New York-based Quartet Health, a clinically-guided technology startup integrating behavioral and physical healthcare, has raised $40 million in a Series B funding round led by GV (formerly Google Ventures), with participation from existing investors Oak HC/FT Partners, F-Prime Capital Partners, and Polaris Partners.
The company raised $7 million in a Series A round in January 2015 led by Oak HC/FT.
Quartet was founded in 2014 by CEO Arun Gupta and chairman Steve Shulman, who previously served as the CEO of Magellan Health, one of the nation’s leading behavioral health managed care companies.
“Treating behavioral health is haphazard for both patients and providers. Quartet is one of the most promising companies to emerge in the behavioral health sector in recent years,” said Krishna Yeshwant, general partner at GV, who will join Quartet’s board of directors.
“We are delivering really exciting improvements in the way everyday Americans receive care and have the opportunity in front of us to scale that to millions of patients,” says CEO Arun Gupta.
Individuals with behavioral health conditions account for over half of healthcare utilization in the United States. The majority of these individuals have concomitant physical health illnesses and receive fragmented, sporadic, and often inaccessible mental health care.
Quartet partners with payers and provider systems to make accessible behavioral care more convenient, effective, and integrated. The company creates care pathways between primary care providers and a curated network of behavioral health providers and makes a host of convenient access options available to patients, including telepsychiatry, online cognitive behavioral therapy (CBT), and appointments with Quartet’s network of providers. The platform is powered by advanced data science algorithms that identify patients and physicians in need and monitors the efficacy of the treatments initiated.