Mental health app Ginger achieves unicorn status

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San Francisco-based mental health app Ginger reached unicorn status after closing a $100 million series E funding round March 24.

The company has garnered more than $220 million in investments, and its total valuation is now $1.1 billion. The latest funding round was led by investment firm Blackstone Growth.

More than 10 million people have access to Ginger's online mental health service in more than 40 countries through the company’s partnerships with employers, health plans and other partners.

With the new funding, Ginger plans to continue expanding access to its mental health services by pursuing more partnerships with multinational employers and health plans. It also plans to increase its support of underserved populations through new government payer partnerships and collaborations with nonprofits, as well as acquire more technologies and clinical services to improve its care.

The news comes as several other online mental health startups are gaining big investment dollars, such as Modern Health’s $74M series D funding round in February and Lyra Health’s $187M series E funding round in January.

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