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Overview
Company Does Not Provide H1B Sponsorship
Firsthand Cares provides mental health support and resources for people with serious mental illness, with many staff having lived experience to build trust. It offers services like personal guidance, connections to community resources, and mental health advocacy delivered by trained professionals guided by lived experience. The emphasis on shared lived experience sets it apart from traditional providers, as it complements clinical care and community resources rather than relying only on medical treatment. Its goal is to improve mental health outcomes by reducing access barriers and guiding recovery through a compassionate, experience-informed approach.
About Firsthand
Industries
Social Impact
Healthcare
Company Size
51-200
Company Stage
Late Stage VC
Total Funding
$52.9M
Headquarters
New York City, New York
Founded
2021
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Simplify's Take
What believers are saying
- Carelon partnership expands Firsthand's role across behavioral, pharmacy, inpatient, and outpatient costs.
- Firsthand still raised $10 million in July 2026 despite March 2025 layoffs.
- The company keeps recruiting peer recovery specialists with lived SMI experience, preserving its model.
What critics are saying
- UnitedHealthcare contract loss in March 2025 forced majority layoffs across five states.
- A $10 million raise against a planned $32 million round signals fragile recovery.
- If Carelon or another payer exits, Firsthand's value-based model loses its main lifeline.
What makes Firsthand unique
- Firsthand's peer guides use lived SMI experience, reinforcing trust and engagement.
- Carelon partnership ties Firsthand to total-cost-of-care management, not simple referral volume.
- Its control-group outcome measurement with Carelon creates unusually disciplined performance tracking.
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Funding
Total Funding
$52.9M
Above
Industry Average
Funded Over
3 Rounds
Benefits
Health Insurance
Dental Insurance
Vision Insurance
401(k) Company Match
Parental Leave
Flexible Work Hours
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↓ -4%2 year growth
↑ 0%firsthand, a New York-based serious mental illness care provider, has secured $10 million of a planned $32 million funding round, according to public filings. The raise follows significant setbacks for the company, which was forced to cut most of its staff in March 2025 after losing a major Medicaid contract through UnitedHealthcare. Founded in 2021, firsthand uses a peer support model where individuals with lived experience of serious mental illness engage with patients at home. The company previously raised $28.1 million in its Series B from GV in February 2023. The new funding signals renewed growth momentum. firsthand has established a partnership with Carelon focusing on total cost of care for serious mental illness patients. To date, the company has raised approximately $52.9 million across three funding rounds.
FirstHand Health has filed a notice of an exempt offering of securities to raise $29,999,998.00 in New Equity Investment. FirstHand Health has filed a notice of an exempt offering of securities to raise $29,999,998.00 in New Equity Investment.According to filings with the U.S. Securities and Exchange Commission, FirstHand Health is raising $29,999,998.00 in new funding. Sources indicate as part of senior management Chief Executive Officer, Samir Malik played a key role in securing the recent investment and it will aid in aggressively expanding the company, as well as broaden and accelerate product development.About FirstHand HealthAt firsthand we believe firsthand experience with serious mental illness should be valued more. Our founding team of serial entrepreneurs and healthcare executives have intentionally spent careers serving underserved people with Serious Mental Illnesses, in partnership with community-based organizations. We are actively adding like-minded business-builders to fill out our team.To learn more about FirstHand Health, visit http://www.firsthandcares.com/Contact:Samir Malik, Chief Executive Officer314-578-5416https://www.linkedin.com/in/samirmm/SOURCE: http://www.intelligence360.ioCopyright (c) 2023 SI360 Inc
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About Firsthand
Industries
Social Impact
Healthcare
Company Size
51-200
Company Stage
Late Stage VC
Total Funding
$52.9M
Headquarters
New York City, New York
Founded
2021
Firsthand is Hiring for 18 Jobs on Simplify!
Find jobs on Simplify and start your career today