Behavioral health startup raises $11M, partners with Anthem Blue Cross

Andrea Park -

Octave, a San Francisco-based company providing in-person and virtual therapy services, announced on Oct. 22 a new partnership with Anthem Blue Cross of California designating the startup as an in-network provider.

The company also announced the close of its Series A funding round. The $11 million will fund Octave's expansion plans beyond its current sole location in New York City; two new spaces in San Francisco and New York City are slated to open before the end of the year, with more locations in California and New York planned for 2020.

The partnership with Anthem Blue Cross makes Octave the first behavioral health startup to be an in-network provider for a major payer. Anthem Blue Cross members in California now have in-network coverage of Octave's services, which include in-person and virtual coaching, group therapy and psychiatry, as well as digital educational and assessment tools for between-session support.

"With Octave, I wanted to not only make it easier to find a great therapist, but also create a place that would allow people to focus more deeply on their emotional well-being," Sandeep Acharya, founder and CEO, said in a news release. "I'm excited to bring this concept to more people as we continue to grow and expand our practice into new markets."

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