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Classified in: Health, Business, Covid-19 virus
Subject: VEN

Nirvana, a Mental Healthcare Payments Platform, raises $7.5M from Inspired Capital to Make Mental Health Care Accessible to All

NEW YORK, Nov. 17, 2021 /PRNewswire/ -- Nirvana,  a mental healthcare payments platform, has raised $7.5M from Inspired Capital with participation from existing investors Eniac Ventures, RTP Seed, and Arc Ventures to meet demand for its innovative technology. Since launching in 2020, Nirvana Health has empowered clinicians across the country to seamlessly manage their back-office. The company streamlines complex insurance workflows for enterprise and solo practices by offering easy integrations into top mental healthcare insurers. Nirvana's software unifies financial management for practices and allows them to build seamless experiences for their end-patients.  

With a surge in demand for mental health care, long-brewing in the US healthcare system and exacerbated by COVID-19, tremendous capital and resources have gone into aggregating the demand side (patients). Nirvana Health, by contrast, is starting with the supply side (clinicians), which faces a profound shortage. Nirvana Health's platform extends clinicians' ability to serve 30% more patients and through the company's insurance expertise, more than 50% of Nirvana Health's clinicians have extended their operations to national scale.

"We started Nirvana Health to build a best-in-class experience for mental health providers," says Akshay Venkitasubramanian, co-founder and CEO of Nirvana. "Opening up capacity is a critical component of mental health accessibility; clinicians want to serve more clients, but they are facing burnout. We navigate the complexities of financial and insurance management on their behalf, allowing them to meaningfully expand their practices?be it growing their business locally or integrating new sources of patient demand into their workflow."

Nirvana's primary focus is managing clinician pain points. In today's market, clinicians are working with multiple digital mental health platforms who serve patients across state lines, and Nirvana's offering can also partner directly with leading digital mental health platforms, like on-demand mental health company Ginger.  

"Nirvana has deep knowledge and experience in mental health billing and claims processing. They helped us integrate with health plans with a white-glove customer experience," says Alex Boisvert, CTO at Ginger, a Headspace Health Company.

"Right now, pressure on the system has accelerated the use of technology in the delivery of mental healthcare," adds Lucy Deland, Partner at Inspired Capital. "Nirvana's founding team?Akshay, Kelvin, and Urvish?have both the healthcare and tech experience to solve the sharpest pain points on the provider side. We're most excited by their approach to transforming the payment infrastructure of mental health, making it easy for providers to scale their businesses, work with insurers, and get compensated for their time."

With this funding round, Nirvana is focused on expanding its engineering, customer success, and sales teams and bringing its technology to more therapists and enterprises across the country.  

About Nirvana 
Nirvana is on a mission to make consistent mental health care accessible to everyone. The company offers the leading practice management platform for mental health professionals, helping therapists and clients get paid reliably so that nothing gets in the way of best-in-class care. Headquartered in New York, Nirvana has raised nearly $12M in funding to date. Learn more at www.meetnirvana.com.

Media Contact: press@meetnirvana.com 

SOURCE Nirvana

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