Grow Therapy Secures $150 Million Series D to Scale Integrated Mental Health Platform

New updates have been reported about Grow Therapy.

Grow Therapy has raised $150 million in Series D funding to accelerate the expansion of its technology-enabled mental health platform and deepen its role as an infrastructure partner for payers, employers, and health systems. The round, led by existing investors TCV and Growth Equity at Goldman Sachs Alternatives with participation from BCI, Menlo Ventures, Sequoia, SignalFire, and Transformation Capital, lifts total capital raised to $328 million and signals strong investor conviction in the company’s ability to scale profitably in a large, demand-heavy market.

The company reports rapid growth in utilization, facilitating seven million visits in 2025 and 10 million lifetime appointments across therapy and medication management, supported by a vetted network of 26,000 providers and coverage for approximately 220 million insured Americans. Internal metrics show high client satisfaction, with roughly 90% of users likely to recommend the service and an 85 Net Promoter Score, while outcome tracking suggests 80% of clients experience measurable symptom improvement within 30 days.

Since its April 2024 Series C, Grow Therapy has invested heavily in its core platform, upgrading scheduling, billing, and EHR tools and rolling out AI-assisted clinical documentation that has cut provider note-taking time by about 70% while improving accuracy versus manual notes. The company has also launched a consumer mobile app that offers clinically guided AI tools between sessions, allowing clients to share selected insights with clinicians and keep synchronous visits more focused and productive.

On the payer side, Grow Therapy has expanded its insurer relationships from about 75 to more than 125 partners, including Medicare and Medicaid, positioning the company as a scaled in-network option at an average client copay of $21 per visit, with one-third of visits at zero out-of-pocket cost. Management highlights flagship arrangements with major insurers and care navigation partners aimed at improving clinical outcomes, lowering total cost of care, and enhancing member experience through coordinated, measurement-based mental health services.

A key next phase of the strategy is to integrate more deeply with employer benefits, addressing fragmentation between traditional employee assistance programs and health-plan coverage that often forces patients to switch providers or pay out of pocket after EAP sessions end. Beginning in 2026, Grow Therapy plans to offer employers a single, connected experience that preserves provider continuity as employees transition from EAP to health insurance benefits, while charging only for care actually delivered rather than per-employee subscription fees.

For health systems, Grow Therapy is extending its platform to support embedded behavioral health pathways, enabling medical teams to coordinate referrals, share clinical context, and streamline the transition from screening to treatment. Executives frame this as an opportunity to reduce leakage and friction in follow-up mental health care, making Grow a preferred partner for systems seeking scalable, outcomes-focused behavioral health capacity.

CEO Jake Cooper positions the company’s strategy as building “win-win-win” alliances for patients, providers, and partners, underpinned by clinically guided AI, outcomes measurement, and tight integration with existing coverage channels rather than competing point solutions. Investor commentary from TCV and Menlo Ventures underscores a view that Grow Therapy is emerging as a category-defining platform in mental health infrastructure, with the Series D proceeds earmarked for deeper payer and employer integrations, continued AI and data investments, and broader national reach.

Looking ahead, Grow Therapy plans to focus capital on expanding its interoperable technology stack and strengthening measurement-based care across all access points, from health plans to workplaces and health systems. For stakeholders, the funding round both de-risks Grow Therapy’s near- to medium-term capital needs and reinforces the company’s strategic positioning as a scaled, tech-enabled intermediary that can deliver measurable outcomes, cost control, and network quality in a fragmented U.S. mental health market.