US-based digital mental health platform SilverCloud Health has raised $16m in a series B round led by MemorialCare Innovation Fund, the investment vehicle for medical care provider MemorialCare Health System.
Two other care providers, UnityPoint Health and OSF HealthCare, also took part, through corporate venturing units UnityPoint Health Ventures and OSF Ventures, alongside LRVHealth, B Capital Group and Act Venture Capital.
SilverCloud has created a mobile platform that provides access to more than 30 clinically validated digital treatments for mental health conditions such as depression and substance addiction. It was spun out of Trinity College Dublin.
The product is available through more than 300 organisations, including MemorialCare, UnityPoint, OSF and certain health systems that are among venture capital investment platform LRVHealth’s backers.
The round increased SilverCloud’s total funding to more than $30m, it said. B Capital Group led its $8.1m series A round in 2017, investing with AIB Seed Capital Fund, ACT Venture Capital and Investec Ventures.
Ulster Bank Diageo Venture Fund, a partnership between beverage producer Diageo and financial services firm Ulster Bank that is managed by Investec, had led the company’s $2m seed round, which included AIB Seed Capital Fund and Enterprise Ireland, in 2013.
The original version of this article appeared on our sister site, Global University Venturing.