Little Otter, a digital mental health company that aims to provide tools and treatment for both children and their families, has raised $22 million in Series A funding. The round was led by CRV and had participation from Torch Capital, Vast Venture, Boxgroup, Able, Carrie Penner Walton, G9 and angel investors. This latest investment brings the total funding to $26.75 million.
The company was founded in May 2020 by mother-daughter duo Rebecca and Dr. Helen Egger. The company has seen 45% month-over-month growth.
Once a family signs up, they are given a quick questionnaire to understand their needs. The family gets a personalized report and is matched with a personal care lead who will review the assessment answers together to discuss the family's unique needs. The care lead will create a care plan for the family. Setting goals and milestones is what every family does to start their mental health journey.
The new funding will allow Little Otter to offer its platform in more states and fuel growth. Currently, Little Otter is available in California, Colorado, North Carolina and Florida, with plans for the platform to be available nationally by the year 2023.
The image is of Little Otter.
Little Otter CEO Rebecca Egger told TechCrunch in an email that they will be investing heavily in building their tech and data platform. Jim Inoue will be the chief technology officer and will be in charge of Little Otter's technical growth and scale. He will play a key role in the development of a new way of identifying and treating early childhood mental health. We are working to become an in-network benefit for insurance plans and employers in all 50 states by 2023.
Little Otter has a platform that provides on-demand and integrated care with parenting specialists, early childhood-trained therapists, couples therapists and psychiatrists. The company wants to break down existing barriers to services and bring expert mental healthcare to all. 85% of families have reached clinical improvements within six sessions with Little Otter's care plans.
The company wants Little Otter to be the mental health companion for every family.
There is a lot of need for mental health resources in this country but a one-size-fits-all solution will not work. Little Otter is being built to be the go-to resource for all families and the long-term partner that helps families meet their mental health goals and thrive.
