Motivo, an Atlanta-based platform that helps mental health professionals on their path to licensure, has raised $2.2 million in a seed round led by Cox Enterprises. Techstars, SEI Ventures, ECMC, Great Oaks VC, The Jump Fund, Emmett Partners and Next Wave Impact Fund participated in the round, along with multiple angel investors.
The startup will use the funding to grow its team, acquire contracts with mental health agencies and clinics and sign channel partnerships with therapist associations and universities. Motivo has already identified 12 credential types in the healthcare industry that require supervised hours --- a $6.5 billion market opportunity, according to a press release.
"While our investors are excited about Motivo's market size and opportunity, they are perhaps equally as excited about the impact we are having on the mental health workforce," Rachel McCrickard, CEO and founder of Motivo, told Atlanta Inno. "Many of our investors have an interest in increasing access to healthcare so they love Motivo's ability to remove bottlenecks in the licensure process for new therapists."
To date, Motivo employs three full time employees, with plans to immediately hire a head of customer success with the new funding, McCrickard said. The company will also hire for positions in sales and product early next year.
"We are proud of how much we've been able to accomplish with a small, gritty team and we are excited to continue growing our team in Atlanta!" she said.
The new round brings Motivo's total funding to $2,325,000, according to McCrickard.
Founded in 2017, Motivo connects recent graduates to a clinical supervisor to fulfill state licensure requirements as a therapist, counselor, social worker or psychologist. Much like a doctor is required to fulfill a residency at a hospital, those working towards professions in the mental health sector are required to complete approximately two years of face-to-face consultation with a licensed therapist following graduate school. Though typically completed in person, the rise in tele-health has pushed for many states to allow supervision hours to be collected through secure video conference.
McCrickard, a licensed therapist who had a weekly two-hour commute to complete her supervision hours, said stigma around attending therapy is lessening.
"More and more people, particularly millennials, are seeking help for depression, anxiety, addiction, relationship conflict and even life changes such as a new career or significant loss," she said. "Along with this, the U.S. Department of Labor has projected a 22% increase in the mental health workforce (5% is the average for most industries) over the next 10 years. Motivo steps in by helping professionals fulfill the last mile of obtaining their credential. We pick up where graduate school leaves off, giving new professionals the tools they need to earn their license, grow their skills and launch their career."
McCrickard's own experience completing her clinical supervision sparked the idea for Motivo. She said she also realized how significant the geographic boundaries are for rural areas in need of mental health professionals. According to the Substance Abuse and Mental Health Services Administration (SAMHSA), 55% of U.S. counties—all rural—have no practicing mental health professionals. Tele-supervision allows therapists to serve these underserved areas
Most recently, the company signed a partnership with the AAMFT, the largest association for marriage and family therapists, after also signing the American Counseling Association earlier this year.
"In 2020, Motivo will focus on acquiring supervision contracts with mental health agencies and clinics, building channel partnerships with therapist associations and universities, and growing both sides of our tele-supervision marketplace," McCrickard said.
Motivo is a 2018 Techstars Atlanta graduate, an Atlanta Inno Coolest Companies winner and McCrickard was named as an Atlanta Inno 50 on Fire winner.
