Talkiatry raises $210 million, eyes opportunity to use AI

Mario Aguilar reports on technology’s evolution in healthcare, focusing on sectors like artificial intelligence, virtual reality, and telehealth and the challenges these innovations face.
Talkiatry, a virtual psychiatry company, secured $210 million in funding to expand its insurance-covered psychiatric services, targeting a critical segment of mental health care.
Unlike other mental health tech companies focusing on wellness and therapy, Talkiatry specializes in psychiatric conditions that necessitate medication management and employs 800 psychiatrists.
The company’s workforce helps it contract with insurers and serve as a referral resource for health systems, making it a significant player in psychiatric care.
The funding round was led by Perceptive Advisors with contributions from Sofina and Andreessen Horowitz, providing Talkiatry with financial stability to sustain its employee base amidst potential revenue fluctuations.
Talkiatry’s CEO and co-founder, Robert Krayn, ensured the company’s clinicians remain paid even during revenue disruptions, although specific valuation or profitability details were not disclosed.
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