Grouport Raises $1.5 Million Series Seed Round to Provide Online Group Therapy for Chronic Psychological Disorders
NEW YORK, September 9, 2021-- Grouport, an online group therapy service that's making group treatment widely accessible for chronic psychological disorders, today announced a $1.5 million series seed round led by XV Venture Capital, with participation from 380 Cap (a fund started by Drizly co-founder Justin Robinson), and Taub Ventures. Grouport will use the investment to strategically scale its evidence-based and tech-enabled platform, providing a consistent support setting to those with shared experiences. By doing so, Grouport will help more people access best-in-class support and skills development which are needed for therapeutic progress – all at a fraction of the cost of most other options.
"At Grouport, we're building a collaborative approach to mental health care that gives people the ability to confide in others facing similar challenges and helps them get better together," said Grouport founder and CEO Jonathan Spievack. "Many people feel completely alone and can't fathom that there are others like them out there feeling the same way they do. We're here to normalize their experience, destigmatize a lot of what's keeping them stuck, and help them stay motivated to regularly implement difficult behavioral change into their lives."
Founded in 2019, Grouport has seen over 10x growth since launch, and has had thousands of session attendances. Members have expressed a whole host of benefits including reduction in symptoms, better relationships, increased productivity at work, and improved overall quality of life. Through this funding, Grouport will expand its leadership team across key functions including marketing, tech, product, business development, among others, to support its efforts to scale nationwide.
Brian Deutsch, founder and managing director at XV Venture Capital explains, "We are living in a time where the mental health of our population is under constant attack. The pervasiveness of social media and the related self-esteem issues, coupled with the isolation and anxiety induced by the Covid pandemic are deteriorating our mental well-being. Fortunately, our society is becoming more accepting and understanding that mental health is critically important. We believe that Grouport is uniquely positioned to be the go-to digital solution for those with moderate to severe chronic mental illness. XV is thrilled to support Jonathan and Mordechai as they make our world stronger and more resilient."
Lori Gottlieb, Grouport clinical advisor and author of New York Times bestseller "Maybe You Should Talk to Someone" adds, "Grouport provides a much-needed approach to mental health, making group therapy with skilled licensed clinicians accessible and convenient. Tailored to meet the unique needs of today's world, this innovative group-oriented system empowers clients to feel less alone, develop critical relational skills, and gain support and insight they can apply to all areas of their lives."
To learn more about Grouport, visit: GrouportTherapy.com
Established in 2019 and founded by Jonathan Spievack (CEO) and Mordechai Teitz (co-founder and CTO), Grouport is pioneering a virtual group-based treatment model that's tailored to chronic psychological disorders. Through its online therapy groups, patients meet weekly with the same members and therapist for consistent care spanning the full range of mental health challenges. Grouport's mission is to make online group therapy easily accessible at the click of a button, and to provide an affordable care option that doesn't compromise on quality. Utilizing its specialized therapist network, Grouport creates groups structured by diagnosis to give patients a tight knit community that they feel comfortable regularly confiding in.
Learn more at GrouportTherapy.com
About XV Venture Capital
XV Venture Capital is a Chicago based venture capital firm that's sector agnostic and focuses on seed stage investments. The firm was founded in 2016, and typically leads investment rounds in technology companies that are driving transformative change in their industry. XV has a deep background in healthcare and technology and is known to leverage its operational and entrepreneurial expertise to establish high touch partnerships that drive significant value for its portfolio companies. XV's leadership consists of seasoned financial, operational, technical, and marketing executives who have had extensive track records investing in, running, and building successful businesses. XV's portfolio spans consumer and enterprise, and includes investments in companies such as Chefling, Complia, Thyng, STX, Colorcast, and American Paper Bag.
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