- Little Otter, a behavioral health startup for children, raised $ 22 million on Thursday.
- The startup’s tech also provides mental health assessments for families and caregivers.
- It directly employs behavioral health specialists and gave them equity in the recent funding round.
As some investors had predicted, funding for behavioral health startups is still strong in 2022 after a successful year in 2021.
Behavioral health virtual startup Little Otter on Thursday raised $ 22 million in Series A funding in an undisclosed assessment. CRV led the round, which also included investments from Torch Capital, Vast Ventures, Hinsdale, Boxgroup, _Able, Carrie Penner Walton, G9 and Springbank Collective. Since its inception in 2020, Little Otter has raised $ 26.75 million.
Compared to mental health startups, which focus more narrowly on conditions such as
and anxiety, behavioral health companies, on the whole, take a broader, more holistic approach and often offer treatment for additional conditions such as eating disorders and substance abuse.
Digital health has exploded during the COVID-19 pandemic that has lasted for years, and Little Otter is combining several digital health strategies. It offers telemedicine tours through its app or website for parents and children aged newborns to 14 years old for behavioral health issues, treatment, and ongoing assessments. Unlike others
As companies that hire physicians on contract, Little Otter directly employs its psychologists, psychiatrists and specialists.
Rebecca Egger, a former Palantir employee and project manager at the Chan-Zuckerberg Initiative, started Little Otter with her mother, Dr Helen Egger, in 2020. Rebecca Egger had realized that her mother’s work as a that clinical psychologist was largely relegated to the fringes. academia and was not easily accessible to families in need. Particularly for younger patients, Egger saw an opportunity to treat the family unit as a whole for behavioral health issues as a more holistic approach than those popularized by current pediatric behavioral health startups.
âWhen you look at children, young children, you can’t ask them about their mental health the same way you ask adults, how do you feel? What are your dreams? Are you depressed? Egger told Insider. “For young children, it’s about seeing the invisible.”
Little Otter treats a range of conditions in children and caregivers, such as depression, anxiety, and attention disorders.
Little Otter employs its own behavioral health specialists, psychiatrists and therapists to assess, develop treatment plans, and perform ongoing checks with children and their families or primary caregivers. Parents may receive special support as they navigate their child’s behavioral health or seek to self-assess Little Otter’s telemedicine software and offerings. Little Otter also offers treatments for these adults, as long as they have a child or dependent also using Little Otter.
Little Otter provided Insider with the pitch he used to raise $ 22 million in Series A funding from CRV and other investors. It was amended prior to Insider’s review to remove details of its privacy and security practices regarding patient data to avoid confusion, according to a company representative.