The company was founded by Sarah Adler, PsyD, a professor of psychiatry at Stanford (Calif.) University. Wave Life will use the financing to expand further into the employer space, according to a March 7 news release.
Sante Ventures led the investment round.
“We understand that the major challenges Gen Z faces when it comes to mental health are the lack of access to high-quality licensed therapists and a lack of interest in traditional therapy. Many young adults, especially those who come from underrepresented backgrounds are disengaged and disappointed with their healthcare options and are seeking alternative solutions that are more relatable and convenient. But they don’t want to sacrifice science-backed care,” Dr. Adler said. “We designed Wave Life to bridge this gap, providing a platform for personalized plans and on-demand coaching sessions accessible on the phone.”
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