Today, nearly one in four Americans receive healthcare benefits through Medicaid. For this quarter of the population – which includes some of our nation’s most vulnerable – timely access to mental health services can be astonishingly and appallingly limited. And while demand for mental healthcare continues to increase year after year, the supply of mental health providers who accept Medicaid is dwindling.
Our mission at Brave is to create 100% access parity for mental health for the millions of Americans tragically underserved. We focus on outcomes that move the needle, with the goal of making high-quality care engaging and accessible. Since our launch in 2019, we’ve expanded our reach to 65+ million covered lives across over 200 plan contracts in 18 states. Our team–made up of hundreds of people dedicating their lives to community health across the country–has worked tirelessly to improve mental health outcomes and, subsequently, enable much more impact for each dollar of resources invested in healthcare. And our data-driven tech platform lets us continue to reach more people, faster and more effectively.
We believe that treating someone starts with reaching someone, and we can’t operate in a vacuum. We work every day with forward thinking health plans who share our vision, from the case manager working with a member with serious mental illness, to the plan president motivated to reimagine how precious resources can be best allocated across a state.
Responding to the level of need we’re seeing today requires shifting from the transactional approach reinforced by the fee-for-service payment system. This shift is happening: in recent months, we’ve signed our first three value-based contracts with health plan partners, bringing the total number of potential Medicaid members under Brave Health’s care in a value-based arrangement to more than one million.
This week’s announcement of our Series C funding round led by Town Hall Ventures is just one of many steps on the journey to build Brave into the company we know it will become. I’m so grateful to our advisors, investors, friends, allies, and teammates who have helped us get to this point. And I welcome the many more who are eager to join us in our vision of a healthier future for all.
Thank you to the fantastic teams at Town Hall Ventures, Union Square Ventures, City Light Capital, and to our health plan partners and countless other investors and champions who have helped us get here today. And thank you, most of all, to our team members who, from the northwest corner of Washington state to the tip of the Florida Keys, bring their deep commitment to serving our patients to work every single day.
Together, we can strengthen Medicaid’s safety net, expand upon the way we deliver and pay for mental health services, and build a future where access and outcomes continue to evolve meaningfully. It is an honor to have this opportunity, and a privilege to work alongside people whose faith in what is possible for our patients inspires us to keep building, and keep believing.