Venture Capital News: Happify Health Lands $9M
NEW YORK, NY, Happify Health, the pioneer in combining evidence-based emotional health interventions with engagement and gaming technology, announced today a $9 million funding round.
The round was led by TT Capital Partners ("TTCP") with participation from existing investors. This investment will allow Happify Health to continue the expansion of its digital platform that provides clinically tested, highly personalized behavior change interventions for use across the emotional health continuum.
Happify Health is the behavior change technology and emotional health services platform for individuals, health plans, employers and care delivery systems, providing solutions that address areas ranging from resilience and stress to depression, anxiety and social isolation that often accompany chronic illness. Happify Health works with its partners and clients to configure solutions for their needs, from stand-alone resilience offerings to highly integrated solutions that engage, screen, deliver interventions and provide ongoing maintenance and support.
"Happify Health's early and continued success is built on a strong foundation serving both individual and enterprise clients," said Dawn Owens, Partner at TTCP. "We look forward to collaborating with the strong management team as Happify Health expands and delivers a compelling solution proving the importance of emotional health in overall health and wellbeing."
Based on decades of scientific research in cognitive behavioral therapy, positive psychology, mindfulness and neuroscience, Happify Health's digital intervention platform provides more than 60 programs and over 2,500 activities that use evidence-based science, unparalleled engagement strategies, software and gamification to improve access, deliver emotional health outcomes and significantly reduce costs. Happify Health's programs were created in conjunction and collaboration with leading scientific experts in each domain of life.
With this investment, Happify will increase infrastructure support for its growing business, continue research in real-world interventions, and continue to enhance and expand the Happify platform.
"As a healthcare industry leader, TTCP's support marks a significant confirmation of Happify Health's platform as the leading solution for digital engagement and behavior change," said Dr. Andrew Sekel, Happify Health Chairman and former CEO of OptumHealth Specialty Networks. "This investment will allow us to continue advancing research and technology development and expanding the company's work within healthcare and enterprise settings."
"After such rapid growth with enterprise clients over the past year, Happify Health is thrilled to expand our business with such a trusted investor with strong ties to the healthcare industry," said Tomer Ben-Kiki, co-founder and CEO at Happify. "Happify Health is pioneering a new paradigm that combines evidence-based, low-cost and effective emotional health interventions with an innovative user experience and exceptional engagement levels. This funding will allow us to expedite the adoption of innovative delivery models by the healthcare industry."
Happify Health currently works with major health insurance providers and Fortune 500 employers to provide its solutions at scale. The company previously announced a partnership with Humana to deliver emotional health support to chronic heart condition patients.
About Happify Health
Happify Health (www.HappifyHealth.com) offers evidence-based emotional health behavioral change technology solutions for employers, health plans and enterprise organizations. Based on decades of scientific research on interventions, Happify Health provides more than 60 programs created by leading experts through its digital intervention platform. Topic areas include resilience and mindfulness, as well as conditions ranging from depression and anxiety to chronic pain and insomnia. Its web and mobile apps give users immediate access to Happify activities any time of day or night. Happify Health was a recipient of a 2017 Employee Benefits News Technology Innovator Award and the MedTech Breakthrough Award for Best Personal Health App.
About TT Capital Partners
TT Capital Partners (TTCP) is a healthcare principal investor, collaborating with healthcare technology and services companies that have the potential to become market leaders. Leveraging the insights garnered from a unique knowledge-based platform, TTCP has invested in some of the most innovative, high-growth businesses in healthcare. TTCP is part of the TripleTree healthcare merchant bank platform. For more, visit www.ttcapitalpartners.com.
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