Grow Therapy Raises $150M at $3B Valuation in Series D
Grow Therapy has raised $150 million in Series D financing, bringing its valuation to $3 billion, reinforcing investor confidence in the company’s rapid growth and expanding footprint across the mental health ecosystem.
The round was led by existing investors TCV and Growth Equity at Goldman Sachs Alternatives. New investors Menlo Ventures and BCI joined existing backers Sequoia Capital, SignalFire, and Transformation Capital.
Founded in 2020, Grow operates a platform connecting patients with licensed therapists and psychiatric providers covered by insurance, while managing credentialing, billing, and administrative workflows. Its vetted network includes approximately 26,000 providers nationwide.
Jake Cooper, CEO and Co-founder of Grow, said:
“Grow has built alliances and capabilities that deliver win-win-win results for clients, providers, and all of our other partners with a stake in mental health care. This Series D reflects investor confidence in Grow’s ability to execute a high-impact strategy and continue making mental health care more accessible, effective and connected.”
Jay Hoag, Founding General Partner at TCV and board member, added:
“TCV loves backing great entrepreneurs targeting very large market opportunities. We are excited to continue to partner with Grow on the journey to provide access to, and improvement of, quality mental health care.”
Strategic Expansion
Grow continues expanding partnerships with employers and health systems, integrating clinically guided AI tools that reduce provider documentation time by nearly 70%. The company has also broadened insurance coverage from 75 to over 125 insurers, including Medicare and Medicaid, with an average client cost of $21 per visit, and one in three clients paying $0.
As competition intensifies with well-funded startups such as Headway and Alma, alongside category expansion from companies like Sword Health, Grow aims to deepen integrations across health plans, employers, and health systems to ensure seamless access to care regardless of where a patient’s journey begins.
