MCLEAN, Va.--(BUSINESS WIRE)--TARA Mind, a public benefit corporation focused on creating access to safe and effective ketamine-assisted therapy (KAT) as a covered benefit for employees, announced today that the Company has raised $8 million, led by Satori Neuro. Additional investors participating in the oversubscribed round were Echo Investment Capital, Crumpton Ventures, Empath Ventures, and Blake Mykoskie: Founder of TOMS.
Founded in 2022 by Marcus Capone, a Veteran Navy SEAL turned Entrepreneur after experiencing the life-changing benefits of psychedelic-assisted therapy, TARA Mind is advancing its mission to provide safe, effective, and affordable access to life-changing mental health therapies through its collaborative care platform and structured real world evidence dataset. The Company has developed a first of its kind mental health collaborative care platform, recognized for being clinician-guided, data-driven and evidence-based, to help the millions of individuals struggling with mental health disorders that have not been clinically responsive to traditional mental health therapies. Many of these individuals represent the highest risk/highest cost segment of the workforce.
Through its provider collaborative care platform, TARA Mind is able to administer highly effective, clinician-guided personalized mental health treatments and incorporate them into today’s employer funded benefit plans. Self-funded employers who offer TARA Mind’s benefit can expect to realize favorable ROI results within the first year. Employer savings are derived from reduced medical costs, reduced absenteeism, and improved workforce productivity.
Marcus Capone, CEO of TARA Mind, stated, “As a Navy SEAL, I was fortunate to not face affordability or access challenges to available treatments for my deteriorating mental health. My personal challenge was that the current traditional treatment protocols were simply not helping. I had to independently seek alternative treatments, which ultimately saved my life and family. At TARA Mind, our mission is to offer a solution that eliminates the existing barriers to life changing therapeutics that millions of American families struggling with depression face daily. We are dedicated to paying forward the lessons learned and fostering a culture of support and well-being. Our first mover advantage in the employer benefit space, coupled with our collaborative care platform and structured dataset, provides us with a unique opportunity to play a key role in advancing affordable access to life-changing therapies for millions of individuals struggling with treatment resistant depression.”
“We are proud to partner with TARA Mind, not only through our strategic investment, but also through our shared dedication to creating a meaningful impact in the area of mental health,” said Dr. Amy Kruse, Chief Investment Officer for Satori Neuro. “TARA Mind's mission to expand access to groundbreaking mental health therapeutics aligns closely with our purpose: to create, fund, and inspire businesses that elevate humanity.” Dr. Amy Kruse will be joining the TARA Mind Board of Directors who, together with the Scientific Advisory Board, are collectively dedicated to helping raise the standard of mental healthcare nationwide.
About TARA Mind
TARA Mind was founded in 2022 by investment and incubation firm Red Cell Partners led by Grant Verstandig (TARA Mind Co-founder) and Dr. Yisroel Brumer. TARA Mind is a Public Benefit Corporation founded in 2022 to expand safe, affordable, and effective access to emerging mental health therapies. Learn more at www.taramind.com and follow us on social media (LinkedIn, Instagram, Twitter).
