Therapy start-up Talkspace attracts $3.5 mln

Talkspace, which provides anonymous therapy via a mobile device or online, has raised $3.5 million in seed funding. The investors in this round included Metamorphic Ventures, SoftBank and Spark Capital.

PRESS RELEASE

NEW YORK — DECEMBER 16, 2014 — Talkspace, the web and iOS application that connects people with licensed therapists, announced today the launch of its on-demand therapy app on the Google Play Store. The Android release of the Talkspace app is accompanied by a new brand redesign that is now uniform cross-platform and improves on the experience of live-chatting with a therapist.

Talkspace also revealed today the addition of Metamorphic Ventures to its roster of investors, which includes Soft Bank and Spark Capital , and brings its total seed funding to $3.5 million. With the new funding, Talkspace aims to bolster its partnerships with enterprises to make therapy an essential and attainable part of company-wide wellness programs.

Founded in 2012, Talkspace puts therapy within reach anytime, anywhere for $25 per week, paid monthly. With the Talkspace web and mobile apps, anyone can sign up to receive a free consultation with a therapist. After a preliminary assessment, members are paired with a licensed therapist in a chat room where they can communicate frequently, privately and comfortably. Talkspace also allows its users to remain anonymous at all times in an effort to make it easy to start therapy sessions and further reduce the stigma often associated with seeking psychotherapy.

“Accessibility, affordability and user experience are key when it comes to introducing a new way to do things, especially for a profession as antiquated as therapy,” said Roni Frank, co-founder of Talkspace. “We founded Talkspace with a mission to normalize therapy and adapt the experience to our lifestyles today. Being on mobile has many advantages and launching on the world’s biggest smartphone platform was a natural next step in fulfilling our vision of providing therapy for all.”

By eliminating the stigma, fear, anxiety and cost associated with traditional therapy, Talkspace is providing better preventive care, attentiveness and proven clinical results. In the United States alone, Talkspace has amassed 70,000 members with a network of more than 100 experienced therapists who are on-call 24/7. With the new funding, Talkspace aims to bolster its partnerships with enterprises to make therapy an essential and attainable part of company-wide wellness programs.

“Talkspace is a leader in democratizing mental health care and we have already seen the enormous impact that it has had,” said David Hirsch, Managing Partner at Metamorphic Ventures. “Mobile technology and the evolution of communication have brought a host of opportunities for how we interact with healthcare providers. We couldn’t be more pleased to partner with Talkspace to bring quality therapy at the tap of a button.”

Talkspace is available for free on the Google Play Store or at: [LINK]

Screenshots of new Talkspace Android app: screenshots here
Talkspace is available for free on the iTunes App Store or at: https://itunes.apple.com/us/app/talkspace-therapy/id661829386?mt=8

About Talkspace
Talkspace is a transformative new way to experience therapy that brings the dialogue between licensed therapists and their clients into the on-demand digital age. Introducing Unlimited Messaging Therapy (™), a revolutionary new approach to psychotherapy, Talkspace connects millions of people with dedicated practitioners for on-demand, private text-conversations on the web and through Talkspace’s mobile app.

Founded in 2012 with a mission to make therapy more affordable, accessible, and at the convenience of people today, Talkspace offers Unlimited Messaging Therapy for only $25 per week. Poised to disrupt the multi-billion dollar mental health industry, Talkspace has become the preferred method of therapy for over 70,000 people.

For more information, please visit http://www.talkspace.com.

About Metamorphic Ventures
Metamorphic Ventures is a New York City based venture capital firm that invests in start-up and early stage technology companies. We focus on investing in great entrepreneurs building game-changing companies in massive markets, whether that be in categories like marketplaces, e-commerce, payments, web services, the Internet of Things, virtual reality, or even new categories that haven’t been discovered yet.

For more information, please visit http://www.metamorphic.vc/.