Home / SmartTech / Two chairs bring $ 7 million for their client-therapist matching app and in-patient clinics – TechCrunch

Two chairs bring $ 7 million for their client-therapist matching app and in-patient clinics – TechCrunch

The future of healthcare is not completely digital. For encounters as close as the dynamics of the client therapist, a personal relationship is still crucial.

For those who can afford technology-based therapy services, Two Chairs, a San Francisco-based psychiatric company, may be of interest. The startup believes in the power of in-person therapy, as opposed to the new variety of affordable digital tools that are supposed to replace, or exist alongside, therapy services. Today, the company announces a $ 7 million Series A funding from Maveron to open additional inpatient clinics and develop its client-therapist-matching app, which uses the technology to provide its customers with one-stop shopping Combining Therapists Best Suited to Their Needs

The Company currently operates four clinics in the Bay Area where patients can access individual or group therapies. Each of these clinics was built with a view to modern, young professionals who created "non-judgmental spaces" using "thoughtful design".

A Two Chairs Clinic emphasizing the "non-judgmental" design.

The mobile app and clinical interior design are the main differences between two chairs and a private practice in the neighborhood, it says. At a price of $ 180 per hour, a session is not very different from a typical session in a private practice in the Bay Area (the company accepts insurance). The startup currently employs 30 therapists who are also available via video chat if a customer is sick or traveling and has a client base of 2,000 customers.

Two Chairs was founded in 2017 by former Palantir employee Alex Katz (pictured). Speaking to TechCrunch, Katz admitted that buying real estate for Two Chairs' inpatient clinics was a costly and difficult undertaking. No wonder venture capitalists favor IT startups without the overheads associated with real estate businesses. Katz hopes that the recent investment, which has raised Two Chairs to a total of $ 8 million, can help sign additional leases outside the US's most expensive city.

The money is also used for matching Two Chairs app. The app asks potential customers for their story, preferences, and goals, and then uses a data library to tailor the client to the most appropriate therapist in their list and create an individualized treatment plan. Katz says they delivered the customer an accurate match 95 percent of the time.

"We know that the client-therapist relationship is the best predictor of a result with care, and although it sounds intuitive, matching is not the case. A concept that has historically existed in the field of mental health "Chats told TechCrunch."

Two Chairs is one of several mental health start-ups that have recently attracted the attention of venture capitalists, a foundation that helps people with anxiety and depression through guided conversations through chat and video was created in the year of Bedrock's $ 3.75 million investment in 2018. Wisdo, a community-based app that connects people looking for help to those who can provide help, brought one in December A $ 11 million investment and Aura raised $ 2.7 million from Cowboy Ventures in October.

These three companies have done one thing What they all have in common is that they are Digital First's aspirations that want to introduce innovations alongside a broken model of psychiatric care. However, Two Chairs' plan to build additional therapy clinics does not feel particularly resourceful. The opening of a chain of therapy offices sounds more like a hard-to-scale, costly business idea.

Regarding the capital increase for mental health, Katz is convinced that Silicon Valley has finally recognized the problem: " I think the Silicon Valley project had a penchant for models that are not bricks and mortar Mortar goes and the use of people is minimized. They prefer software companies, "he said. "The reason we follow this approach is that we know from research that truly well-tuned personal therapy is really effective. Despite the high level of 19659012 it is exciting. There are many people who are innovating how to provide better psychiatric care.

Goldcrest Capital also participated in Two Chairs' Series A.

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