Grow Therapy

What Grow Therapy does

Grow Therapy is a New York-based, venture-backed mental health platform founded in 2020 by Jake Cooper, Manoj Kanagaraj, and Alan Ni. It operates a nationwide marketplace connecting individuals with a network of more than 26,000 licensed therapists and psychiatrists for insurance-covered talk therapy and psychiatric medication management across all 50 states. The platform accepts most major insurance plans, with an average client out-of-pocket cost of approximately $21 per session, and reports that over 90% of clients find a matched provider and 80% show measurable symptom improvement within 30 days.

The underlying technology combines an integrated EHR/practice management and insurance billing system with three differentiated AI capabilities: AI Scribe for automated clinical documentation (reducing documentation time by ~70% since its February 2025 launch), AI Coach for clinician-supervised conversational support between sessions grounded in CBT/DBT/ACT frameworks, and Between-Session Reflections, an AI-powered journaling feature that generates themes for therapist review. Two acquisitions (Neosync in September 2025 and Tenor Therapy in February 2026) have consolidated AI clinical-support capability in-house. The company holds HIPAA compliance across multiple state-level professional entities (Grow Healthcare Group P.A., Grow Healthcare Group PC, and state-specific professional corporations).

Grow Therapy operates a multi-channel revenue model anchored by transaction-fee revenue from insurance reimbursements and supplemented by recurring B2B2C revenue from 125+ health plan partnerships covering 220 million lives, enterprise EAP contracts (notably Amazon covering 1M+ employees with a redesigned no-cliff EAP), and health system integrations such as Circle Medical in 24 states. Direct-to-consumer acquisition runs through a self-serve marketplace and iOS app, while enterprise partnerships drive predictable volume. The company reached unicorn status in 2024, claims profitability since 2023, and most recently closed a $150M Series D in March 2026 at a $3 billion valuation led by TCV and Goldman Sachs Alternatives, bringing total disclosed equity funding to $328 million.

Name

Grow Therapy

Legal name

Grow Care, Inc.

Website

https://growtherapy.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Grow Therapy is a US mental health platform operating in all 50 states that connects clients with 26,000+ licensed therapists and psychiatrists through an insurance-covered marketplace, AI-powered documentation and coaching tools, and B2B partnerships with 125+ health insurers, employers (including Amazon), and health systems.

Ownership category

akta.pro rank

Product category

Behavioral Health Services

NAICS

Outpatient Mental Health and Substance Abuse Centers (621420), Offices of Mental Health Practitioners (except Physicians) (621330), Offices of Physicians, Mental Health Specialists (621112)

SIC

Services-Health Services (8000), Services-Offices & Clinics Of Doctors Of Medicine (8011)

akta.pro primary industry

Mental Health Therapist Marketplaces (HLALALAJ)

akta.pro secondary industries

General Mental Health Therapy Platforms (Talk Therapy) (HLALAEAA), Psychiatry & Medication Management Platforms (HLALAEAB)

Keywords

• Mental health marketplace
• Telehealth platform
• Behavioral health network
• Insurance-based therapy
• Provider credentialing

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Insurance Reimbursement (Fee-for-Service): Grow Therapy generates revenue by facilitating therapy and psychiatric care appointments billed through insurance. Providers on the platform are credentialed with health plans, and Grow handles billing and claims processing. The company takes a share of reimbursements for platform and administrative services. Sessions cost approximately $21 on average with insurance.
2. Health Plan Partnerships (B2B2C): Grow Therapy partners with health insurers (125+ partners covering 220 million people) who pay the company to provide in-network mental health access to their members. Revenue comes from negotiated per-member-per-month fees or value-based arrangements. Flagship partnerships with major insurers including Guidewell and Lucet.
3. Employer EAP Contracts: Grow Therapy provides Employee Assistance Program services to employers, redesigning the traditional EAP to eliminate the 'EAP cliff' that forces employees to switch therapists after exhausting free sessions. The partnership with Amazon provides no-cost care for the first six therapy sessions to over one million employees.
4. Health System Integrations: Grow Therapy extends its platform to health systems including partnerships with primary care providers like Circle Medical, enabling mental health services within primary care workflows.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Grow Therapy operates a mental health marketplace platform that connects clients with a national network of 26,000+ licensed therapists and psychiatrists for in-person and online therapy and psychiatric medication management. The platform accepts most major insurance plans, automates credentialing, billing, and claims processing for providers, and pairs the consumer marketplace with AI-powered clinical tools (documentation, journaling, between-session coaching) for both clients and clinicians. It distributes services through direct-to-consumer self-serve search, 125+ health plan partnerships covering 220 million lives, employer EAP contracts, and health system integrations.

Product overview

Grow Therapy operates as a unified mental health platform combining a marketplace/consumer app with provider-facing technology tools. The core platform connects clients with over 26,000 licensed therapists and psychiatrists for insurance-covered therapy and psychiatric care across all 50 states. This core is augmented by AI-powered features including AI Coach (conversational support between sessions), Between-Session Reflections (AI journaling with theme generation), and AI Scribe (automated clinical documentation). The company also provides supplementary services including interpreter access through Cyracom and crisis resources, while expanding into employer benefits through redesigned EAP offerings. The platform is accessible via web and iOS mobile app.

Differentiator

Problem solved

Functional benefit

Products and services

• Grow Therapy Marketplace Platform
• Therapy and Psychiatric Services
• Provider Platform
• Employer Benefits / EAP Program

Quantifiable outcome

• 80% of clients see measurable symptom improvement within 30 days
• +4 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability8 records

Feature5 records

Partnerships

Five partnerships are on record, tiered flagship and major.

• AmazonflagshipGTM or Marketing Partner · 23 April 2026Enterprise partnership to provide mental health benefits through Amazon's Employee Assistance Program, covering over one million Amazon employees. The redesigned EAP includes no-cost care for the first six therapy sessions, nationwide coverage, and appointments within 2-3 days.
• GuidewellflagshipStrategic or Co-development Partner · 3 March 2026Flagship partnership with major health insurer to improve clinical outcomes and expand member access to mental health services through Grow Therapy's network.
• LucetflagshipStrategic or Co-development Partner · 3 March 2026Care navigation partnership with Guidewell to expand mental health access through insurance channels. Lucet serves as Guidewell's care navigation partner.
• Circle MedicalmajorStrategic or Co-development Partner · 3 March 2026Health system partnership integrating mental health services with primary care. Circle Medical operates in 24 states and will offer Grow Therapy's services to their primary care patients.
• WellHivemajorStrategic or Co-development Partner · 6 February 2025Partnership to improve access to mental healthcare for veterans, providing services to veterans through WellHive's platform.

Scale indicators12 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Headway: Headway operates a mental health provider marketplace with insurance billing and credentialing services, very similar in business model to Grow Therapy. Both target the same payer and provider ecosystem and compete directly for therapists, health plan partnerships, and employer contracts.
• Lyra Health: Lyra Health is a mental health benefits platform focused on employers and health plans, offering therapy, coaching, and psychiatry. It is one of Grow's primary competitors in the employer EAP and payer channel and pursues a similar in-network, high-quality provider model.
• Talkspace: Talkspace is a publicly traded online therapy and psychiatry platform serving consumers, employers, and health plans. It overlaps with Grow across both B2B payer/employer channels and D2C therapy delivery, and serves as a useful benchmark for public-market valuation.
• Alma: Alma is a mental health provider platform offering credentialing, billing, and a therapist directory for in-network care. It targets similar provider and payer segments as Grow and represents one of the closest direct competitors in the insurance-based therapy marketplace.
• Spring Health: Spring Health is a comprehensive mental health benefits provider sold primarily to employers and health plans, combining therapy, coaching, and medication management. It competes directly with Grow's employer EAP and integrated care offerings.

Broad incumbents

• BetterHelp: BetterHelp, owned by Teladoc Health, is the largest direct-to-consumer online therapy platform. While primarily subscription/DTC rather than insurance-led like Grow, it competes for the same therapist supply and end consumers in the broader teletherapy category.
• Teladoc Health: Teladoc Health is a publicly traded telehealth incumbent offering general medical, mental health (via BetterHelp), and chronic care. As a broad incumbent with significant capital and an existing mental health portfolio, it competes indirectly with Grow across payer and employer channels.
• Included Health: Included Health (formerly Doctor On Demand + Grand Rounds) is a virtual care and navigation platform sold to employers and health plans that includes mental health services. It competes with Grow's employer EAP and integrated care strategy at the enterprise level.

Emerging players

• Cerebral: Cerebral focuses on online psychiatry and medication management for anxiety, depression, and ADHD. While narrower in scope than Grow (medication-led rather than therapy-led), it overlaps with Grow's psychiatric services and competes for similar prescriber supply.
• Two Chairs: Two Chairs is a hybrid in-person and virtual therapy provider operating its own clinics while also serving insurance networks. It overlaps with Grow's in-person therapy delivery and competes for both clients and licensed therapists in shared markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/growtherapy_
• Facebookfacebook.com/joingrowtherapy
• LinkedInlinkedin.com/company/grow-therapy
• Instagraminstagram.com/growtherapy__

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds7 records

Investors15 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Grow Therapy