As tech transforms healthcare, the world of mental health is quickly catching up, with startups like Quartet and Talkspace raising millions in funding. Today, Alma Health joins their ranks with the announcement of $8 million in new funding and expansion plans on the horizon.
Alma was founded in 2018 by CEO Harry Ritter as a coworking space for therapists. The company launched with its first (and, to date, only) physical location in Midtown Manhattan, which follows the model of other popular coworking spaces with its minimalistic design, array of potted plants and communal kitchen area.
The main difference here is that Alma’s clients are all certified mental health professionals.
For $165 per month plus additional booking fees, NYC therapists can join Alma’s network, providing them with not only space to meet with their clients, but a host of services such as billing, scheduling, patient referrals and more.
Those who choose to meet with their clients in the Alma space will find that all of its private rooms have been decorated in precisely the same manner, ensuring consistency for both patient and practitioner.
Alma Health CEO Ritter announced the company’s latest funding in a recent interview with CNN. According to the report, Alma raised $8 million in new funds, led by Tusk Venture Partners. To date, the company has pooled $12.5 million in total funding.
Ritter said that a portion of this new funding will be used to fuel a community-oriented expansion of Alma. The company will soon be introducing a $135 monthly membership option, which gets therapists access to Alma’s professional services and network, without access to private meeting spaces.
The move is designed to help foster a greater sense of community within the world of mental healthcare providers, ultimately improving provider performance and quality of life.
With therapist burnout being a very real, yet often unrecognized issue, companies like Alma help ensure the wellbeing of the entire healthcare ecosystem.