Ginger announced a $100 million Series E round of funding, bringing its total raised to $220.7 million. It also reports a valuation of $1.1 billion, making it HR technology’s latest unicorn. Ginger provides on-demand behavioral health coaching, scheduled video therapy and psychiatry sessions, and validated mental health skill-building activities via its app to employees and health plan participants.
Ginger becomes the seventh work tech unicorn that we’ve tracked this year, and the third in the mental health category.
Apps across the total wellbeing space have received significant attention over the last few years. Most are focused on a specific part of wellness: mental wellness, physical wellness, financial wellness, career wellness, etc. The global pandemic has highlighted the importance of mental wellness like no other wellness category and accelerated both the adoption of services and technology and VC investment in the category.
In 2020, $485 million was invested in HR tech focused on wellness. Get the full report on global HR technology investment in 2020 for free here.
Source: Ginger Announces $100 Million Series E Financing from Blackstone to Bring Value-Based Mental Healthcare to Millions of Employees and Health Plan Members | Business Wire