The startup is making it easier for new mothers to access mental health care by integrating support directly into Obstetric practices
Boston, MA, Feb. 27, 2024 (GLOBE NEWSWIRE) — FamilyWell Health has secured $4.3 million in seed financing to solve the maternal mental health crisis. This milestone marks the company’s first round of institutional capital and is led by .406 Ventures, with participation from GreyMatter Capital and Mother Ventures. FamilyWell will continue to scale throughout New England and the funding will enable the company to expand nationally.
“Given our team’s deep experience backing innovative behavioral health and women’s health companies, we had been looking at this intersection for quite some time,” said Payal Divakaran, partner at .406 Ventures. “FamilyWell offers an elegant solution that is a win-win for all stakeholders, including obstetric practices. Dr. Gaulton and her team have built an incredible, mission-driven company poised to address a critical need in women’s mental health.”
New mothers face dire maternal mental health challenges, with a staggering 1 in 5 U.S. women suffering from postpartum depression. Individuals who seek treatment typically wait for months to be seen by a mental health provider and instead turn to their obstetricians, who are often hesitant to screen for mental health conditions knowing there is a shortage of therapists and psychiatrists.
“I had difficulty finding support when I experienced postpartum depression and have cared for countless new moms struggling to access mental health care during one of the most vulnerable periods of their lives,” said Dr. Jessica Gaulton, Founder and CEO of FamilyWell. “My experience, both as a survivor and as a practicing neonatologist, inspired me to start FamilyWell to provide equitable, affordable, and accessible mental healthcare for new mothers.”
FamilyWell is tackling these issues by integrating comprehensive mental health services directly into OB practices, providing pregnant and postpartum patients specialized support for depression, anxiety, and other perinatal mental health concerns. The FamilyWell approach combines a best-in-class clinical model with the deep understanding that comes from personal experiences, as the company was built from the ground up by mothers who have overcome their own mental health struggles during and after pregnancy.
By partnering with OB providers, FamilyWell increases access to mental health support for pregnant and postpartum individuals where and when they need it. FamilyWell patients typically access insurance-covered coaching and therapy in less than one week, avoiding the 6-12 month wait times.
“When you’re pregnant or caring for a newborn, you can’t afford to wait months for help,” said Dr. Melissa Sherman, Medical Director and Obstetrician at Essex OB/GYN Associates, a FamilyWell customer. “With FamilyWell, patients get help within days and have ongoing support through one of the biggest transitions of their lives.”
About .406 Ventures .406 Ventures is a Boston-based venture capital firm with over $1.4B under management and nearly two decades of experience leading or co-leading early-stage investments in pioneering healthcare, data + AI, and cybersecurity companies founded by visionary entrepreneurs. Notable lead investments include AbleTo (acquired by Optum), Carbon Black (acquired by VMWare), Cloud Health (acquired by VMware), Corvus (acquired by Travelers), Health Dialog (acquired by BUPA), Iora Health (acquired by One Medical/Amazon), Mineral Tree (acquired by Global Payments), and Veracode (acquired by CA Technologies). Learn more at .406ventures.com and follow us on LinkedIn and X.
About Grey Matter Capital GreyMatter is a venture capital firm dedicated to supporting bold founders building the future of mental health and emotional wellness. Their team has extensive experience in investing, building, and advising companies at the nexus of mental health and technology, and they’ve cultivated a robust network of advisors, including many of the most successful behavioral health company founders, distinguished clinicians, researchers, technologists, policy advocates, and healthcare executives. Their platform serves all stakeholders in the innovation space including builders, payors, and funders. Learn more at greymattercapital.com and follow us on LinkedIn.
About Mother Ventures Mother Ventures channels the financial and social capital of mothers to power the next generation of companies built for moms and families. 85M U.S. Mothers control 85% of household purchases and have a spending power of $2.4 Trillion+. Mother Ventures, founded in 2024, is the first venture capital firm to focus specifically on the mother as consumer. They invest in companies making life easier, healthier, more rewarding, and stress-free for moms, parents, and children. Learn more at mother-ventures.com.
About FamilyWell Health FamilyWell Health is a tech-enabled behavioral health company that integrates specialized mental health services including coaching, therapy, and psychiatry into OB/GYN practices. Its comprehensive program includes in-person and virtual care and an on-demand text support line with live peer coaches for accessible emotional support. For more information, visit familywellhealth.com. Follow us on LinkedIn and IG.
CONTACT: FamilyWell, Inc. Danielle Reynolds-Flatt Director of Digital Marketing danielle@familywellhealth.com
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