MINNEAPOLIS--(BUSINESS WIRE)--Learn to Live, a leading national mental health company, today announced a substantial financing round led by Concord Health Partners. This latest round of investment will enable Learn to Live to meet the demands of its 11x member growth over this past year, as the company expands past its current reach of over 33 million individuals nationally.
Learn to Live offers comprehensive, self-directed cognitive behavioral therapy (CBT) programs for depression, anxiety, stress, social anxiety, insomnia, and substance use, 24/7 live clinician coaching, and clinically based therapy protocols to improve mental health and well-being. The tools are available anytime, anywhere, directly to consumers and through Learn to Live’s partnerships with health plans, employers, and higher education institutions.
Learn to Live collaborates with hundreds of organizations such as Health Care Service Corporation, Prime Therapeutics, Blue Cross Blue Shield of Massachusetts, Sleep Number, and the University of Minnesota.
By removing traditional barriers to mental health solutions through immediate access to 24/7 services, Learn to Live improves access to high-quality care, drives market-leading user engagement and achieves excellent clinical outcomes at significantly lower delivery costs.
“The pandemic has brought even greater awareness to the tremendous need for mental health services, and we are excited to invest in the Learn to Live mission to expand access to proven mental healthcare through innovative digital solutions,” said Taylor Whitman, Partner at Concord. “What we found in Learn to Live is an exceptional leadership team, paired with the best research and outcomes, scalable technologies, and high engagement strategies. Together, Learn to Live provides a truly powerful tool that can help meaningfully address one of the most important healthcare issues we currently face.”
While demand for mental health support has always been high, the global pandemic has shined a spotlight on the continued need for clinically grounded services which can scale quickly and efficiently. Uncertainty has increased rates of anxiety and depression, while social distancing has made it more difficult to access mental healthcare services. Even before the pandemic, the Learn to Live approach has shown excellent results:
- 50% of members report a drop in depression and anxiety measures
- 95% of members report achieving their goals
- 48% of members show continued engagement at 6 months
- 5:1 ROI is reported by companies in first year alone
To meet demand, Learn to Live has introduced Spanish to its platform, launched both a client portal and a clinician care portal, launched mental health programs tailored to COVID-19 concerns, nearly doubled its employee base, and expanded its client success team, behavioral health clinician coaches, technology engineers and operational leaders.
“For us, it’s all about how our members want and need access to immediate, real-time solutions that really address their struggles and meet them where they are—24/7. And our approach has generated some astonishing results—outperforming other treatment models in our space, including both face-to-face therapy and teletherapy in some cases,” said Dale Cook, CEO of Learn to Live. “If there’s one thing this past year has taught us, it’s that investors, organizations and especially individuals are ready to consider new approaches that show results in dealing with the global mental health crisis.”
To support accelerated growth, Learn to Live also recently announced the appointments of Sarah Thorstad as Chief Operating Officer and Eric Daniels as Chief Growth Officer. Thorstad provides leadership for the product and member experience, as well as for the clinical, technology, human resources, and general operations teams to ensure delivery on their mission of helping members live their best life. She joins the company with 15 years of experience in healthcare. Daniels leads the sales, client success and marketing teams at Learn to Live, with overall responsibility for health plans, employers, and higher-education institutions. He has been tasked with increasing health care access, driving affordability, and improving health and wellbeing for everyone served—including a push into the provider space.
The new funding will enable Learn to Live to continue addressing the growing need for value-driven mental healthcare and to position the company for further growth in this sector. This growth includes the launch of innovative new programs delivering additional evidence-based solutions and a continued push to scale beyond its current member base.
As part of this funding, Learn to Live has added Concord’s Taylor Whitman as an observer to its Board of Directors.
To learn more about how you can offer Learn to Live through your organization, please reach out to Learn to Live at partnerships@learntolive.com.
About Learn to Live
Learn to Live is a leader in tackling mental health challenges through customizable and scalable consumer-centered technology — via both web and mobile delivery. Their cognitive behavioral therapy (“CBT”) programs are self-directed, complemented by 24/7 live clinician coaching services. The programs are designed to help individuals with stress, general anxiety, depression, social anxiety, insomnia, and substance use. The company’s platform provides tools that reduce stigma, alleviate access barriers, and limit financial concerns for those seeking help. Learn to Live has helped tens of thousands of individual consumers, and collaborates with organizational clients in the health plan, employment, and higher education sectors. For more information visit www.learntolive.com or find us on Twitter at @LearnToLiveCBT.
About Concord
Concord Health Partners (“Concord”) is a private healthcare investment firm with a strategic model that aligns interests between investors and portfolio companies. Concord invests in innovative healthcare companies that enhance the value of care through products, services, technologies, and solutions that lower costs, improve quality, and expand access to care. To learn more about Concord, please visit: www.concordhp.com
