Hybrid behavioural health provider Two Chairs scores $72M

California-based hybrid behavioural health company Two Chairs announced the closure of a $72 million Series C financing round, led by Amplo Financing, with participation from Fifth Down Capital and other investors, and debt financing provided by Bridge Bank. This round brings the company's total raise to $103 million. 

Two Chairs facilitates patient-therapist matches through a 45-minute interview process with licensed experts, offering therapy across over 90 areas of expertise, both in-person and virtually. They operate in California, Washington, and Florida, serving as an in-network provider with Aetna and Kaiser Permanente in select states. 

The funding will support expansion efforts, technology development, and enhancing patient-therapist matching and care delivery. With mental illness affecting over one in five adults in the US, virtual mental health remains a top-funded clinical indication for startups, with Two Chairs expanding its offerings to include virtual group therapy and services for Spanish-speaking patients. Established in 2017, the company previously secured $21 million in Series B funding in 2019. Other players in the virtual behavioural healthcare sector include Blackbird, Talkspace, oVRcome, Little Otter, and NeuroFlow.

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