Happify Health raises funding for healthcare platform expansion

18 March 2021 (Last Updated March 18th, 2021 13:54)

Happify Health has raised $73m in series D funding to advance and expand its digital healthcare platform with focus on digital therapeutics and patient care delivery.

Happify Health raises funding for healthcare platform expansion
Happify Health raises $73m in series D funding to advance and expand digital health platform. Credit: Niek Verlaan from Pixabay.

Happify Health has raised $73m in series D funding to advance and expand its digital healthcare platform with focus on digital therapeutics and patient care delivery.

Deerfield Management Company led the investments that also include participation from Omega Capital Partners, ION Crossover Partners, and other existing investors.

Happify Health, which is a global software-enabled healthcare platform, will use the funding to expand the Digital Therapeutics and Care Delivery solutions and pursue global business development opportunities.

The capital funding will further help to drive relationships with pharmaceutical companies through configurable digital therapeutics solutions and specialised solutions for enterprise and health plan customers.

Happify Health co-founder and CEO Tomer Ben-Kiki said: “Our ability to add a well-rounded group of seasoned investors, led by Deerfield, will further prepare us to execute against the tremendous opportunity ahead of us.

“Today, our platform covers more than 20 million lives with more than 5 million individuals having received care through our platform.

“We are also working with five leading pharmaceutical partners on digital therapeutic solutions and four out of the five national payors to help support their members’ mental health and chronic illness needs. We look forward to reaching an even bigger audience with the support of our new partners.”

The funding will also support additional investment in developing advances in Artificial Intelligence and Machine Learning-based models that power Anna.

Anna is a software-based coach which is designed to support and engage individuals for various chronic conditions, most particularly mental health.