The latest from Author Health

Author Health, a Boston, MA-based provider of a platform for care and treatment of patients with serious mental illness and substance use disorders, raised $115M in funding.

With the market under pressure, digital health funding continues to cool down as investors write smaller checks and focus on early-stage startups.

After a wild ride in 2020 and 2021, the digital health funding market is entering a new reality with fewer deals and smaller average check sizes.

Author Health banked $115 million for its new platform offering care and treatment for Medicare Advantage members with serious mental illness and substance use disorders.

Rock Health’s H1 2023 digital health funding report confirmed the writing on the wall, we’re in a new market cycle.

Health care has always been considered a recession-resistant industry. But when there’s a market downturn and employers cut staff, consumers tighten their belts everywhere — including their employer-funded telehealth perks, meditation app subscriptions or, if they’re unemployed, even seeing a doctor.

General Atlantic led a $115M round for Author Health, with Flare Capital Partners also participating. The platform will treat Medicare Advantage recipients with mental illness or substance use disorders. The funding will be used to help Author Health expand into new markets and secure additional partnerships with other insurance and healthcare companies.

Author Health, which provides mental healthcare and counselling for Medicare Advantage recipients, has announced launch of services in Florida’s Fort Lauderdale and Miami, after raising $115 million in funding led by New York-based General Atlantic and Boston’s Flare Capital Partners.

Learn how the companies that raised June’s top funding rounds are investing their fresh capital.