Alma takes in $130m Series D

Thoma Bravo led the round.

  • Other backers include Cigna Ventures, Insight Partners, Optum Ventures, Tusk Venture Partners, Primary Venture Partners and Sound Ventures
  • Dr. Elisabeth Morray has joined Alma’s leadership team as the vice president of clinical operations
  • Thoma Bravo has more than $114 billion in assets under management as of March 31, 2022

Alma, a membership-based network that helps independent mental health care providers accept insurance and build thriving private practices, has secured $130 million in Series D funding. Thoma Bravo led the round with participation from Cigna Ventures, Insight Partners, Optum Ventures, Tusk Venture Partners, Primary Venture Partners and Sound Ventures.

This fundraising raies the total tally to over $220 million.

“Alma’s unique provider-first approach to mental health care allows providers to deliver high quality patient care while also making it as easy as possible for them to start and grow their practices,” said Ross Devor, a partner at Thoma Bravo, in a statement. “Alma is providing tremendous value to key ecosystem participants: increased access for patients, insurance and billing support for providers, and valuable, diverse networks for payers. We look forward to leveraging our significant software and healthcare sector expertise to support the company’s continued growth.”

Dr. Elisabeth Morray, a licensed psychologist and the former director of telehealth at LifeStance Health, joined Alma’s leadership team as the vice president of clinical operations. In her role, Morray will serve as an advocate for Alma’s providers and continue to see clients on Alma’s platform. Alma also welcomed Erik Lumer, the former chief product officer at Maven Clinic, as chief product officer to lead the company’s next phase of product development, and Chiddy Onyia, Esq., the former general counsel and chief compliance officer at Quartet Health, as general counsel to help the company and our providers navigate the ever evolving regulatory landscape.

Alma’s investors include Thoma Bravo, Cigna Ventures, Insight Partners, Optum Ventures, Tusk Venture Partners, First Round Capital, Primary Venture Partners, Sound Ventures, BoxGroup, Rainfall Ventures, and Able Partners.

Thoma Bravo has more than $114 billion in assets under management as of March 31, 2022. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Over the past 20 years, the firm has acquired or invested in more than 380 companies representing over $190 billion in enterprise value. The firm has offices in Chicago, Miami and San Francisco.