In its second consecutive year on the list, SonderMind was named a new technology unicorn this year, as the rising star in the behavioral health field now has a $1 billion valuation. The $150 million Series C financing round in July increased SonderMind’s total capital raised to date to $183 million. SonderMind’s platform matches clients who are a clinical fit with behavioral health experts while handling payments, insurance reimbursement, clinical assessments and more.
After being named a unicorn earlier this year, has the company’s strategy and timeline around national expansion changed? SonderMind remains committed to making mental health care more accessible and available to clients across the country within the next few years.
What’s been your biggest 2021 accomplishment? 2021 has been an incredibly busy and successful year for the company. The most significant accomplishment has been doubling our footprint to be able to support more providers and serve more clients, ensuring anyone can get the mental health care they need, when they need it.
Are you in the stage of the life cycle you expected to be at this time? The impact of the pandemic over these past two years has been challenging on many fronts — for businesses and people alike. The need for mental health services for multiple reasons and in a variety of settings became a focus of national attention. This need has helped to decrease the stigma that exists around mental health care, and has also driven both the industry and SonderMind’s solution forward much faster than would have been possible.
How would you define your company’s “new normal”? We’ve always run on the mantra that change is our constant. Our new normal carries this mantra through in a big way. We have more resources to impact large changes, but those changes still happen in an environment where we’re looking to redesign how things are done. Effecting that type of impact means the ability to assess and make quick decisions, while at the same time ensuring our providers have the tools they need to care for their clients.
What’s your next big move? SonderMind remains dedicated to redesigning mental and behavioral health through improved access, utilization and outcomes. We recently acquired predictive analytics platform Qntfy, bridging the gap between data science and human behavior. In 2022, we’ll continue down this path in working toward better clinical outcomes through a more personalized journey assisted by data for both providers and clients.
What’s your No. 1 piece of advice for aspiring entrepreneurs? Spend a lot of time speaking with your customers. Stay close to who you’re serving and continue to challenge your own assumptions about what need the company is serving and how to best accomplish addressing that need.
SonderMind
Category: Health Tech
Location: Denver
Top exec: Mark Frank, CEO
