July 15, 2024

Stream Health Care

It Looks Good On You

Backpack Healthcare Secures $14M to Address Youth Mental Health Crisis

2 min read

Hafeezah Muhammad, founder and CEO of health technology company Backpack Healthcare, has secured $14 million in Series A funding to revolutionize pediatric mental healthcare with a focus on Medicaid-enrolled youth.

Announced in May 2024, this investment fuels Backpack Healthcare’s mission to address the escalating youth mental health crisis in the United States.

Backpack Healthcare tackles a critical gap in mental healthcare access. Over 40 million children rely on Medicaid or CHIP for coverage, yet only 14% of mental health professionals accept Medicaid. With its AI-powered app and teletherapy services, Backpack Healthcare offers a solution.

Their inclusive approach ensures all young people facing mental health challenges receive the support they need, regardless of socioeconomic background. The company strategically partners with Medicaid-accepting insurance providers, effectively bridging the gap between limited provider availability and those seeking care.

“The funding underscores the need for more inclusive, tech-enabled solutions in the U.S. healthcare system to address the growing pediatric mental health crisis,” said Muhammad. “This milestone allows us to break down barriers and deliver equitable access to mental health support for all children.”

Backpack Healthcare’s AI-powered app goes beyond functionality. It utilizes advanced algorithms to monitor user emotions and match them with specialized therapists for tailored treatment plans. The app creates an engaging experience with interactive tools and activities, making therapy enjoyable and encouraging participation.

The company’s offerings extend beyond the app. Backpack Healthcare provides individual pediatric and family therapy, medication management through telemedicine, and even live parent training sessions on relevant topics like cyberbullying and substance abuse. This comprehensive approach ensures children receive support both within therapy sessions and at home.

The funding will be used to enhance Backpack Healthcare’s technology platform, expand its reach to serve more communities, and further develop its teletherapy services. Currently operating in Maryland and Virginia, with national expansion planned, Backpack Healthcare is committed to making its innovative solutions accessible to a wider audience.

Additionally, they plan to continue research and development efforts to stay at the forefront of AI innovation, while forging partnerships with healthcare companies, government agencies, and schools to deliver high-quality care to those in need.

by Tony O. Lawson

Are you interested in investing in Black founders? If so, please complete this brief form.

Advertise with us

 


link

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © All rights reserved. | Newsphere by AF themes.