SilverCloud Health Raises $16M in Series B Funding

FINSMES — SilverCloud Health, a Boston, MA-based digital mental health platform, raised $16m in Series B funding.

The round, which brought total funding raised to date to more than $30m, was led by MemorialCare Innovation Fund, which included LRVHealth, OSF Ventures and UnityPoint Health Ventures, and existing investors Act Venture Capital and B Capital Group.

The company intends to use the funds to further expand program offerings in North America, enhance the current global portfolio, and conduct additional research and clinical trials.

Led by Ken Cahill, CEO, SilverCloud provides a digital platform that enables access to clinically validated mental health care via healthcare systems and providers, health plans, and employers. The programs are evidence-based and involve clinical experts and users in the design and development of mental and behavioral health interventions.

The company’s mental health programs are currently used globally by more than 300 organizations and by more than 350,000 users.