What Monument does

Monument is a private, direct-to-consumer telehealth platform headquartered in New York that delivers virtual mental health therapy, medical doctor visits, and specialized alcohol use disorder treatment through licensed providers across seven US states (NY, CA, NJ, FL, PA, CT, CO). The platform is built on synchronous and asynchronous telehealth infrastructure with a shared electronic medical record (EMR) enabling real-time collaboration across therapists, doctors, and medication management workflows. Patients self-sign up via web/mobile, verify insurance eligibility instantly, schedule appointments, and receive prescriptions at their preferred pharmacy. The company has delivered over 90,000 appointments with a 4.8/5 average rating and, following the May 2022 acquisition of Tempest, serves a combined community of over 300,000 users focused on alcohol recovery.

Monument generates revenue primarily through appointment fees, charging insured patients $25 per video visit (with insurance reimbursement covering the balance) and self-pay patients $100 per session. The company is in-network with 20+ major commercial and Medicare insurance plans including Carelon, UHC/Optum, Cigna/Evernorth, Aetna, Blue Cross Blue Shield, Anthem, Empire BCBS, and Medicare. Distribution occurs through three channels: direct-to-consumer web/app sign-up, employer benefits programs (Monument for Employers) at $25 per visit with no setup fees or PEPM charges, and health plan network partnerships (Monument for Health Plans). Founded in 2019, the company has raised approximately $23.6M across multiple rounds led by Collaborative Fund (Series 1) and VMG Partners (Series 2), with participation from Alpaca VC, Corigin Ventures, Data Point Capital, Lerer Hippeau, NextView Ventures, Red Sea Ventures, Eastward Capital Partners, Gaingels, Hatzimemos/Libby, Interplay, and Rosecliff Ventures. Mike Russell serves as co-founder and CEO; Abe Malkin serves as medical director overseeing clinical operations across the provider network.

Name

Monument

Legal name

Monument, Inc.

Website

https://joinmonument.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Monument is a private telehealth platform offering virtual mental health therapy, medical doctor visits, and alcohol use disorder treatment at $25 per visit with insurance, serving individual consumers, employers, and health plans across seven US states.

Ownership category

akta.pro rank

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Telehealth Appointment Fees: Monument generates revenue through appointment fees for virtual therapy and medical doctor visits. With insurance, patients pay $25 per video appointment. Self-pay rate is $100 per session for uninsured or ineligible insurance holders.
2. Insurance Billing: Monument is in-network with major commercial and Medicare insurance plans including Carelon, UHC/Optum, Cigna/Evernorth, Aetna, and various state-specific plans. The company handles all insurance credentialing and billing.
3. B2B Employer and Health Plan Partnerships: Monument partners with employers and health plans to provide employee mental and medical health benefits, generating revenue through negotiated per-visit or per-employee arrangements.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Monument operates an online telehealth platform that connects patients with licensed therapists and medical doctors for virtual video appointments covering mental health, medical health, and alcohol use disorder treatment. Appointments are priced at a flat $25 per visit with insurance (or $100 self-pay), and patients can build ongoing relationships with the same provider, receive prescriptions routed to their preferred pharmacy, and access specialized alcohol recovery support through the acquired Tempest program.

Product overview

Monument is a unified telehealth platform offering virtual mental health therapy and medical doctor visits, along with specialized alcohol use disorder treatment. The platform consists of a core Monument Platform serving patients directly, with integrated provider platforms for Therapists and Doctors to deliver care. The company expanded its alcohol recovery offerings through the acquisition of Tempest. Monument also offers employer wellness and health plan partnership programs as distribution channels. All services connect patients with licensed providers for synchronous video appointments at $25 per visit with insurance.

Differentiator

Problem solved

Functional benefit

Products and services

• Mental Health Services Virtual therapy appointments with licensed Monument therapists covering depression, anxiety, PTSD, stress and burnout, grief and loss, relationship and family challenges, alcohol, gambling, and smoking cessation, life transitions, and self-esteem issues. Patients can choose the same therapist or switch anytime, with appointments cancellable up to 24 hours in advance for a full refund.
• Medical Health Services Virtual medical doctor visits for chronic condition management (hypertension, diabetes), acute care, allergies, skin conditions, and prescription services. Doctors can send prescriptions to the patient's preferred pharmacy and patients can schedule recurring or one-time visits.
• Tempest (Alcohol Recovery Program) Digital alcohol recovery program offering community-based support and resources for individuals seeking sobriety. Acquired by Monument to expand its alcohol use disorder treatment capabilities and reach over 300,000 users.
• Monument for Employers Employee wellness benefit offering that combines mental and medical health services on one platform at a flat $25 per visit, with no setup fees and no PEPM charges, designed to replace or supplement traditional EAPs.
• Monument for Health Plans Partnership program for health insurance plans and digital health platforms to integrate Monument's virtual care services into their provider networks, offering seamless coordination across therapy, doctors, and medication management.

Quantifiable outcome

• 4.8/5 patient satisfaction rating from 87,000+ appointments
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration20 records

Feature3 records

Partnerships

One partnership is on record.

• TempestcoreStrategic or Co-development Partner · 11 May 2022Monument acquired Tempest, a digital alcohol recovery program, to enhance its virtual treatment offerings. The acquisition aimed to expand Monument's community and resources, reaching over 300,000 users and creating a comprehensive treatment platform combining therapy, medical care, and alcohol recovery support.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Talkspace: Public telehealth therapy platform offering virtual mental-health sessions with licensed therapists via subscription. Highly comparable as a direct-to-consumer and B2B virtual therapy provider overlapping Monument's core mental-health offering.
• BetterHelp: Largest direct-to-consumer online therapy platform, owned by Teladoc. Closest competitor in the virtual licensed-therapist category and competes head-on with Monument for D2C mental-health demand.
• Cerebral: Telehealth platform focused on mental health combined with prescription medication management. Direct overlap with Monument's integrated therapy + medication model, particularly for anxiety, depression, and ADHD.
• Lyra Health: B2B mental-health benefit platform serving employers with therapy, coaching, and medication management. Comparable to Monument's employer-channel motion and integrated mental+medical value proposition.
• Spring Health: Enterprise mental-health benefit provider combining therapy, coaching, and medication management for employees. Competes directly with Monument for employer contracts and shares the integrated-care positioning.

Broad incumbents

• Headspace Health (Ginger): Combined Headspace and Ginger entity offering mental-health coaching, therapy, and self-care content to consumers and enterprises. Overlaps Monument on therapy and B2B distribution, but offers a broader self-care + wellness portfolio.
• Teladoc Health: Largest publicly traded telehealth company offering virtual medical and mental-health visits across a broad set of conditions. Competes broadly with Monument on integrated virtual care and B2B distribution via health plans.

Emerging players

• Ria Health: Telehealth platform specializing in alcohol use disorder treatment, combining medication-assisted treatment with coaching. Most direct competitor to Monument's AUD-specific focus and Tempest-acquired community offering.
• Workit Health: Virtual substance use disorder treatment provider offering therapy and medication for opioid and alcohol use disorders. Competes with Monument in the virtual SUD treatment category with similar integrated care model.
• Pelago: Digital substance use management platform (formerly QuitGenius) serving employers and health plans for tobacco, alcohol, and opioid use. Direct overlap with Monument's employer-channel SUD offering.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/joinmonument

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds6 records

Investors13 records

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

M&A1 record

Investments

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

Frequently asked questions about Monument