Mental health technology funding soared last year, with companies bringing in $5.5 billion globally across 324 deals, according to CBInsights’ State of Mental Health Tech 2021 Report.
That amounts to a 139% climb from 2020, when startups scooped up $2.3 billion across 258 deals, reports Mobi Health News.
“As the pandemic continued to exacerbate mental health issues (such as anxiety and depression), there was growth in demand and investor interest in digital tools that enhanced mental healthcare delivery,” the report’s authors wrote.
U.S. mental health companies continued to outpace other regions, bringing in $4.5 billion in funding last year. European startups raised $651 million, while Asian companies scored $289 million.
But the report notes there’s still room for growth: Some 68% of last year’s deals were early-stage. Read more.
