therapist

Enterprise, Venture

“Two Chairs secures $72 million in Series C funding to expand its therapist network through equity and debt capital”

When Alex Katz founded Two Chairs in 2017, he firmly believed that in-person therapy is the most effective for behavioral health. On Tuesday, the company announced a $72 million Series C equity and debt financing led by Amplo and Fifth Down Capital, bringing Two Chairs total funding to $103 million. Amplo also led the company’s $22.5 million Series B in August 2019. Two Chairs is one of the latest therapy startups to raise substantial funding rounds. Last week, Grow Therapy, a three-sided mental health platform for therapists, payers and patients, raised an $88 million Series C round led by Sequoia.

Kira Kim
April 16, 2024

Enterprise

Hinge Health Cuts 10% of Staff as Virtual Physical Therapy Market Shifts

Hinge Health, a nine-year-old company that offers a digital solution to treat chronic musculoskeletal (MSK) conditions, cut approximately 10% of its workforce on Thursday, TechCrunch has exclusively learned. The company said people who were laid off worked across various functions; according to employees posting on LinkedIn, some were engineers. Before the layoffs, Hinge had more than 1,700 employees, according to a LinkedIn estimate. The company has raised a total of $828 million, according to PitchBook data. The company’s main competitor is General Catalyst and Khosla Ventures-backed Sword Health, which was last valued at $2 billion in November 2021.