Woebot Health announced it has closed a $90 million Series B funding round, bringing total investment in the company to $114 million. The round was co-led by existing investor JAZZ Venture Partners and Temasek with participation from funds and accounts managed by BlackRock Private Equity Partners and Owl Ventures. Additional participants include Mirae Asset Capital, Kicker Ventures, Alumni Ventures and Gaingels as well as existing investors NEA and AI Fund. Woebot Health will use the proceeds to accelerate further development of its relational platform and technologies, advance its lead digital therapeutic candidates, and expand its team and go-to-market activities to meet surging global demand for mental health care.
We’re at a moment when mental health issues are front and center in a global conversation, and there’s incredible momentum to apply cutting-edge approaches to help solve real human problems, said Woebot Health Chief Executive Officer Michael Evers. It’s gratifying that some of the world’s leading investment groups see the same potential for relational technologies to deeply engage people in their mental health at scale, and to transform care. We’re thrilled they are aligned on our core vision and energized by their commitment to advance the next frontier of technology-enabled mental health care.