Octave Health Group, a San Francisco-based mental healthcare provider, has recently raised $52 million in new capital. The round follows Octave’s $20 million Series B from May 2021.
Founded in 2018, Octave provides services including workshops and therapy for couples, individuals and families. Its platform aims to treat a wide range of behavioral health conditions such as depression, ADHD, bipolar disorder and substance use disorders. Patients can access services in-person or virtually, and Octave works with major insurers including Aetna, Anthem and Health Net.
The company currently operates six physical clinics across New York and California, and it recently expanded its in-network services into Connecticut, Florida, New Jersey, Texas and Washington, D.C.
Octave has continued to receive growth funding as the need for behavioral health services accelerated due to the effects of Covid-19. The company’s existing investors include Greycroft, Obvious Ventures and Felicis Ventures. This latest Series C round was led by Cigna Ventures, Novo Holdings, and Avidity Partners, and joined by all its existing institutional investors.
