Chat Therapy Company Now with $50 million for Improvements

Talkspace has made the news recently with an increase in funding to improve their services. The online therapy app offers clients a variety of packages to suit their needs. The company also works with insurance companies to help offset or reduce the cost for services. The company also works with many employers to offer the service as a benefit to their employees. It’s estimated that over 300,000 people use the app and the company is estimated to have around $110 million in total funding, although no records have been provided by the company to reference a specific amount. 

The CEO of Talkspace, Oren Frank, states that the money will go towards improvements in data science and to improve the platform for everyone involved including the patients and therapists. The company will also be joining with Optum Health in a partnership that’s anticipated to increase exposure of the service to millions. The app was started in 2012 when Frank sought therapy and was discouraged by his experience and felt that the mental healthcare system in the US was damaged. As a result, he provided several new outlets for patients to receive counseling in a real-time, comfortable, and safe setting. In turn, it’s thought that many people that would’ve otherwise not felt therapy was appropriate are now able to get help for their challenges. 

Revolution Growth is the primary contributor in the new funding and Patrick Conroy, a Principal of Revolution Growth will join the Board of Directors of Talkspace as agreed to by the company. Other companies that have been reported to be contributing to the latest round of funding include:

  • Norwest Venture Partners
  • Omura Capital
  • Spark Capital
  • Compound Ventures

More About the Company

Talkspace reviews indicate that the app has an overall reputation for being a great place for therapy. Users are able to chat, voice calls, or make live video calls to a therapist that’s certified and experienced in the area the patient chooses as their focus. The app offers several packages and has free-trial offers on occasion. They utilize approximately 1,500 therapists that are appropriately licensed. As previously stated insurance is accepted and if the insurance plan doesn’t offer coverage for chat therapy or any other services, an FSA can be used to receive the tax benefit. 

Talkspace reviews indicate that many specialty areas are offered through the app including the following specialty areas:

  • Addiction issues
  • Anger
  • Anxiety
  • Bipolar disorder
  • Career help and guidance
  • Impulsivity
  • Conflict and conflict resolution
  • Depression
  • Eating disorders
  • Family issues
  • Grief and grieving and more
  • Health
  • Intimacy and sexual disorders
  • LGBTQ+
  • Transitioning
  • Parenting
  • Relationships
  • Self-Esteem and self-worth
  • Sleeping and sleeping disorders
  • Social behavior and anxiety
  • Stress and stress management
  • Abuse, Trauma, and more

If this sounds like something that would benefit you, check out the Talkspace reviews to see how the app would fit into your lifestyle. With affordable options and trial offers, it’s easy to get connected with a great resource to have at your disposal. More information regarding the service, special promotions, and price points can be found on their website located at finding a therapist doesn’t need to be a stressful event. Download their app to get connected and start enjoying therapy, today. 

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