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Modern Health
Healthtech
Modern Health is a San Francisco-based mental health benefits platform that gives employees access to therapy, coaching, and self-guided digital content through an employer-sponsored benefit.
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Modern Health was founded in 2017 by Alyson Watson, based on the observation that traditional employer-sponsored mental health benefits, most commonly delivered through employee assistance programs (EAPs), have historically suffered from very low utilization rates despite mental health needs being widespread across virtually any workforce, often because traditional EAPs offered limited session counts, difficulty finding an available and appropriate therapist match, and stigma or inconvenience barriers that discouraged many employees from actually using the benefit even when they might benefit from mental health support. Modern Health's platform provides employees with a tiered range of mental health support options, including one-on-one therapy with licensed clinicians for those needing clinical mental health treatment, coaching for employees seeking more general emotional wellbeing support and skill-building without necessarily needing clinical therapy, and self-guided digital content and exercises for employees who prefer to engage with mental health and wellbeing resources independently at their own pace, a stepped-care model designed to match the intensity of support to what a given employee actually needs and prefers rather than offering only a single one-size-fits-all mental health support option. The company has emphasized broader, more proactive positioning around mental health and wellbeing generally, rather than positioning its benefit only as a resource for employees already experiencing significant mental health crises, aiming to reduce stigma and encourage broader utilization among employees who might benefit from some level of mental health or wellbeing support even without an acute crisis prompting them to seek help. Modern Health's customers are primarily large employers purchasing the platform as an employee benefit, competing for benefits budget and adoption against other mental health benefit providers including Lyra Health and Spring Health, all pursuing a similar broader vision of making employer-sponsored mental health support more accessible, destigmatized, and better utilized than traditional, lower-utilization EAP models. The company has raised substantial venture funding from investors including Kleiner Perkins, Founders Fund, and Battery Ventures, reaching unicorn status.
FOR QUALIFIED INSTITUTIONAL AND ACCREDITED INVESTORS ONLY: Under federal securities laws, private market investments on this platform are available exclusively to Institutional and Accredited Investors. Verification of status required before investing. Private investments involve significant risks including illiquidity, potential loss of principal, and limited disclosure requirements. "Augment" refers to Augment Markets, Inc. and its affiliates. Augment Markets, Inc. is a technology company offering software and data services, not a bank or financial institution. Cash Accounts are provided by Modern Treasury Corp. financial institution partners and through Augment's technology. Augment does not act as a money services business, provide money transmission, or serve as a custodian of funds. Funds held in your Cash Account are not FDIC insured unless expressly disclosed. Full terms available in the Augment Cash Account Agreement. Brokerage services are offered through Augment Capital, LLC, an affiliated broker-dealer and member FINRA/SIPC. "Investment accounts" are not brokerage accounts and do not hold customer funds or securities. Investment advisory services are offered through Augment Advisors, LLC, an SEC-registered investment adviser. Registration with the SEC does not imply a certain level of skill or training. Neither Augment Advisors, LLC nor Augment Capital, LLC provide legal or tax advice; consult your attorney or tax professional regarding your specific situation. For additional information, please refer to Augment Advisors, LLC's Form ADV Part 2A (Firm Brochure) and FINRA BrokerCheck.
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