Overview

Marigold Health provides mental health support through anonymous, text-based peer support groups, specifically targeting individuals with substance use disorders, especially opioid use disorders. Users can join moderated group chats facilitated by certified peer support specialists who have personal recovery experience and are trained to offer guidance. This peer support model is based on research highlighting the importance of community in long-term recovery. Marigold Health partners with healthcare providers and insurance companies to integrate its services into healthcare plans, offering 24/7 access to support, which helps reduce the need for costly inpatient care. The company stands out by focusing on proactive interventions that retain patients and improve outcomes, making it a cost-effective solution for both individuals in recovery and healthcare providers.

Simplify's Take

What believers are saying

• Marigold Health secured $11M in Series A funding for expansion.
• Partnerships with providers like Wood River Health Services enhance service integration.
• Growing mental health app market supports demand for Marigold's platform.

What critics are saying

• Competition from well-funded companies like Lyra Health threatens market share.
• Scaling operations with recent funding may lead to inefficiencies.
• Dependence on Medicaid market poses risks if healthcare policies change.

What makes Marigold Health unique

• Marigold Health uses AI-augmented chat support for behavioral health needs.
• The platform offers anonymous, text-based peer support groups for substance use disorders.
• Certified peer support specialists facilitate groups, enhancing community support for recovery.

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Funding

Total Funding

$21.4M

Above

Industry Average

Funded Over

4 Rounds

$11,000,000

Series A

Jun 2024

Series A funding typically happens when a startup has a product and some customers, and now needs funding to scale. This money is usually used to grow the team, expand marketing, and improve the product. Venture capital firms are frequently the main investors here.

Series A Funding Comparison

Below Average

Industry standards

Ind Avg. $15M

$3.7M

$5M

$8.2M

$11M

$15M

$30M

View all funding stages