Little Otter, a digital mental health company that aims to provide tools and treatment for both children and their families, has raised $22 million in Series A funding. The round was oversubscribed and led by CRV, with participation from Torch Capital, Vast Ventures, Hinsdale, Boxgroup, Able, Carrie Penner Walton, G9, Springbank Collective and angel investors. This latest investment brings Little Otter's total funding to $26.75 million.
The company was founded in May 2020 by mother-daughter duo Rebecca Egger and Dr. Helen Egger based on the idea that the children's mental health crisis can only be addressed by treating the whole family through accessible and scalable precision technology. Since its launch, the company has seen 45% month-over-month growth.
Once a family signs up on the platform, they're given a quick questionnaire that aims to understand their needs. From there, the family receives a personalized report and gets matched with a personal care lead who will review the assessment answers together to discuss the family's unique needs. The care lead will then define the next steps and create a care plan for the family. Every family then starts their mental health journey by setting goals and milestones.
In terms of the new funding, Little Otter says the investment will fuel growth and allow it to offer its platform in more states. Little Otter is currently available in California, Colorado, North Carolina and Florida, with plans for the platform to be available nationally by 2023.
Image Credits: Little Otter
"We will be investing heavily in building our state-of-the-art tech and data platform," Little Otter CEO Rebecca Egger told TechCrunch in an email. "We are bringing on Jim Inoue as our chief technology officer to oversee Little Otter’s technical growth and scale. He will play a pivotal role as we build a new way of identifying and treating early childhood mental health, incorporating data, proprietary assessment methods, and data visualization in the platform. Additionally, we’re working to become an in-network benefit covered by insurance plans and employers and will be in all 50 states by 2023."
Little Otter’s platform is based on co-founder Dr. Helen Egger’s clinical expertise and provides virtual, on-demand and integrated care with parenting specialists, early childhood-trained therapists, couples therapists and pediatric psychiatrists. The company says it aims to break down existing barriers to services and bring expert mental healthcare to all. Little Otter says 85% of families using its care plans have reached clinical improvements within just six sessions.
Regarding the future of the platform, Rebecca Egger says the company wants Little Otter to be the personalized mental health companion for every family.
"There is a massive amount of need for mental health resources in this country but a one-size-fits-all solution will not work," she said. "We are building Little Otter to be the go-to resource for all families and the long-term partner that helps families meet their mental health goals and thrive."