With approximately half of Americans with mental health issues not currently receiving treatment, a number of mental health tech startups have entered the market to serve the void. Their goal is to increase access to mental health professionals and reduce stigma about receiving treatment.
An estimated $500 million poured into the mental health tech start-up space in 2018, a 400% increase in four years, which indicates significant growth to continue over the next five years.
“Each generation is getting progressively more mobile-native,” says John Prendergass, an associate director at Ben Franklin Technology Partners’ healthcare investment group, “so I think we’re going to see people become increasingly more accustomed, or predisposed, to a higher level of comfort in seeking care online.”