Global funding for mental health tech startups reached a record $5.5 billion in 2021, up 139 percent from the year before, according to a report released Feb. 24 by CB Insights.
Four takeaways from the report:
- Global funding for mental health tech startups was $1.7 billion in the fourth quarter of 2021.
- During the fourth quarter of 2021, U.S. deals made up 59 percent of all mental health tech startup funding. Deals in Europe made up 22 percent, deals in Asia made up 16 percent, deals in Canada made up 2 percent, and deals in Latin America made up 1 percent.
- The two mental health tech startups that secured the most funding in the fourth quarter of 2021 are BetterUp and Cerebral, which both raised $300 million.
- The average deal size was $20 million in 2021, up by 67 percent from $12 million 2020.