Inside Charlie Health: From 2020 to Now Into a $73 million business
Startup Type:
Headquarter: Bozeman, USA
Current Status: Active (private; expanding operations across U.S.)
Founders: Carter Barnhart, Madeleine Becker, Erik Albaugh
Founded Year: 2020
Investors: Oak HC/FT, GV, Tiger Global
Funding Raised: $73 million
What Is the business model of Charlie Health?
Teletherapy startup that provides virtual intensive outpatient programs for teens and young adults facing mental health crises, working with insurance to make treatment accessible; revenue from insurance reimbursements for its therapy programs
How Charlie Health got started?
Founded in 2020 and based in Montana, Charlie Health was created to address a shortage of youth mental health resources in rural communities, it delivers group and individual therapy via video sessions and matches clients to tailored treatment cohorts
what growth strategy has Charlie Health followed?
Scaled initially in under-served regions by partnering with hospitals and providers for referrals, and emphasized evidence-based treatment with data tracking, its acceptance by insurance networks helped fuel growth across dozens of states, as the pandemic accelerated adoption of tele-mental health for adolescents
what are the top products/features of Charlie Health
Charlie Health virtual therapy programs, personalized client matching, family therapy and crisis planning services
what was the biggest challenge faced by Charlie Health?
Ensuring quality and consistency of care in a fully virtual setting and demonstrating clinical outcomes to skeptical insurers, as well as scaling up a network of licensed clinicians quickly to meet growing demand during a youth mental health epidemic