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Modern Health Acquires Mental Health Startup Kip

Written by Customer Service on . Posted in Mergers And Acquisitions.

SAN FRANCISCO, Feb. 01, 2021 (GLOBE NEWSWIRE) — Modern Health, the mental health and wellness platform supporting 200+ enterprises globally, today announced the acquisition of San Francisco-based mental health startup Kip. Co-founder and CEO, Ti Zhao, will join Modern Health’s product development team to further expand the company’s suite of mental health solutions and analytics.
Founded in 2015, Kip connects users with qualified therapists and arms them with the tools to track observations, feedback, and outcomes about their mental health journey. By combining therapy with a mobile app that allows patients to engage with resources and maintain commitments, Kip has created a unique shared infrastructure to help therapists and patients track mental health progress over time and create more personalized mental health experiences.The acquisition comes in the wake of Modern Health’s recent $51 million Series C investment round, led by Battery Ventures, and a massive year of growth as COVID-19 continues to accelerate demand for mental health services. As an employer-focused solution offering a fully integrated mental health platform, Modern Health’s evidence-based approach provides employees access to mental health care for all levels of need, utilizing therapists, coaches, and digital content to deliver support via one comprehensive, consumer-friendly app.The addition of Kip’s comprehensive and evidence-based communication, assessment, and analytics tools will allow Modern Health to better track and analyze outcomes and feedback over time, create more meaningful, personalized care plans, and further strengthen relationships between Modern Health’s therapists and coaches and the members they serve.“Ti’s expertise building high-caliber evidence-based products that strengthen the provider-client relationship will be instrumental to our team as we continue to build innovative products to support customers along every step of their mental health journey,” said Jinen Kamdar, Modern Health’s Chief Product Officer.“Tracking mental health outcomes is a longstanding challenge. We know that, in order to improve the mental health experience, we need to put the right systems in place to collect and analyze progress over time,” said Alyson Watson, Modern Health founder and CEO. “We are thrilled to join forces with a team that shares our same passion for expanding access to data-driven, outcomes-based mental health care, and customizing the mental health experience to meet each individual’s needs. We are delighted to welcome Ti to our team as we continue providing new, innovative solutions to support healthy workforces around the world.”Modern Health and Kip are both San-Francisco-based companies led by strong female leadership teams, helmed by Alyson Watson, CEO and founder of Modern Health, and Ti Zhao, CEO and co-founder of Kip. Like Modern Health, Kip participated in the renowned accelerator program, Y Combinator (W16). Kip is funded by leading investors like Slow Ventures, which has backed seed rounds of companies like Slack and Postmates, as well as Refractor Capital, Jumpstart, and Great Oaks Venture Capital.“The missions of Kip and Modern Health are closely aligned: bring high-quality, data-driven mental health care to as many people as possible,” said Ti Zhao, Kip co-founder and CEO. “We are excited to let Kip’s legacy live on through Modern Health as we make our shared vision a reality for employers across the world.”For more information about Modern Health, visit modernhealth.com.About Modern Health
Modern Health is the comprehensive mental wellness platform that combines well-being assessments, self-service wellness kits, a global network of certified coaches, and licensed therapists available in 35 languages all available in a single app. Modern Health empowers employers to lead the charge in acknowledging that mental health is just as important as physical health, destigmatizing the conversation, and increasing accessibility of mental health services for all.Founded in 2017, Modern Health incorporates evidence-based psychology principles and seamless technology to serve the needs of companies globally. Headquartered in San Francisco, Modern Health has raised more than $95 million from Battery Ventures, Felicis Ventures, Founders Fund, Kleiner Perkins, Afore Capital, Frederic Kerrest (co-founder of Okta), and 01 Advisors.About Kip
Kip is a full-stack mental health service combining evidence-based therapy and smart software tools to provide mental health care that’s personalized, seamless, and effective. Offering individual services as well as workplace benefits, Kip’s network of carefully vetted therapists are trained and certified in science-backed, evidence-based practices. Founded in 2015, Kip’s mission is to make mental health care more affordable, accessible, data-driven, and effective.Contact
modernhealth@launchsquad.com

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