Today, we are excited to share our investment in Seven Starling, a leading virtual provider of women’s behavioral health services, as part of their $10.9 million oversubscribed Series A round. Zeal Capital Partners joins existing investors Pear VC, RH Capital, Magnify Ventures, Emerson Collective, and Expa, and other new investors including the March of Dimes, Ulu Ventures, Fiore Ventures, Rogue Venture Partners, Graham & Walker, and Wisdom Ventures. We are thrilled to partner with co-founders Tina Beilinson Keshani, Sophia Richter, and Julia Cole. This all-star team brings highly relevant industry and lived experiences to tackle women’s mental and behavioral health.
Seven Starling’s initial focus is on maternal mental health. Maternal mental health conditions affect 1 in 5 mothers every year in the U.S, and suicide and overdose are the leading causes of death in the first year postpartum. Sadly, 75% of women experiencing maternal mental health conditions are left untreated and undiagnosed. This is often due to access and affordability barriers including: a shortage of therapists, limited ability to pay and lack of insurance coverage, and high stigma around these conditions.
The Company has developed a comprehensive tech-enabled clinical model which has helped 90% of their patients see a clinically significant improvement in their symptoms upon completing the program. This includes:
- Specialized Individual & Group Therapy: Offering both individual and group therapy sessions led by specialized mental health providers who understand the unique challenges faced by women.
- Medication Management: Providing evidence-based psychiatric evaluation and medication management to support those who can benefit from medication as part of their treatment.
- Care Coordination: Pairing each patient with a Patient Advocate who supports their seamless onboarding process and ensures they get the most out of their experience.
- In-App Content & Exercises: Engaging patients in-between appointments with tailored content such as CBT (cognitive behavioral therapy)-inspired exercises, journaling prompts, and guided meditations.
We invested in Seven Starling for several reasons:
- Health Equity Alignment: The comprehensive women’s mental health platform addresses every pillar of Zeal’s health equity mandate, which we articulated in our health equity thesis earlier this year, including access and affordability of care, women’s health, mental health and wellness, and social determinants of health:
- Many women struggle to find time for mental healthcare amidst work and taking care of children. The ability to schedule an appointment quickly that is covered by insurance is essential to expanding access to care. Through our diligence, OBGYNs we spoke with mentioned that the average wait time for a typical therapist appointment in-network was 6 weeks, compared to only a few days for a Seven Starling. Additionally, the platform’s comprehensive insurance coverage makes care affordable.
- Cultural affirming care is a critical component of Seven Starling’s model. Over 50% of Seven Starling’s providers are BIPOC to better reflect the diverse population of women the platform serves.
- Partnership with OBGYNs: As mentioned in our health equity thesis, we believe that OBGYNs are the quarterback of care for women, especially for moms. In order to scale, it’s critical that innovative tech platforms in women’s health partner with OBGYNs to meet women at the point of care. Seven Starling has done exactly that through serving as a trusted resource for over 1,000 OBGYNs at private practices and hospitals across the country, with 90% of Seven Starling patients referred by their doctor.
- Partnership with Health Plans: The other challenge to scaling a digital mental health company is reimbursement – many therapists still operate predominantly cash-pay. Seven Starling has been able to partner with most major commercial health plans, including Anthem, Aetna, Cigna, United Healthcare, Kaiser Permanente, and Blue Cross Blue Shield. Over 85% of Seven Starling patients use in-network insurance to pay for their services. The Company is now expanding into Medicaid as well.
- Exceptional Management Team: Seven Starling’s all-female founding team brings highly relevant experience to scaling a women’s mental health business. CEO Tina Beilinson Keshani spent a decade working at high-growth consumer startups including Warby Parker, where she led the launch of Warby Parker’s optometric telemedicine services and national in-network partnership with UnitedHealthcare. COO Sophia Richter was formerly a consultant at BCG and economic development lead for the City of New York. Chief People Officer Julia Cole previously helped scale KIND Snacks and worked at Deloitte Consulting. Each of them also brings lived experiences and a high degree of empathy in tackling women’s mental health. Tina is a mother herself!
At Zeal Capital Partners, we are committed to partnering with early-stage businesses addressing gaps in healthcare, with a lens towards increasing equity. Women’s mental health is a clear example of this, and Seven Starling is addressing this challenge head-on. Through its holistic clinical model combining specialized therapy, peer support, and medication management, Seven Starling provides a personalized approach to address unique mental health challenges women face during critical periods such as infertility, miscarriage and loss, pregnancy, postpartum, and parenthood.