San Francisco-based behavioral health startup has closed a funding round of $72 million, combining equity and debt financing, empowering the company to extend its footprint in the mental healthcare landscape by building therapeutic alliances to provide measurement-based care.
The round was led by Amplo with Fifth Down Capital, which will assist Two Chairs to enhance its technology investments and fuel its growth trajectory. Bridge Bank facilitated the debt financing component of this funding. The infusion of $72 million brings Two Chairs’ total capital raised to $103 million.
The investment comes witnessing Two Chairs growth. The behavioral health company expanded eightfold over the last 36 months with a team of over 500 clinicians. This funding will be pivotal in further broadening Two Chairs’ reach, with plans to enter new states within the following year.
Two Chairs offers a hybrid care model that blends in-person and virtual therapy with California, Washington, and Florida operational centers. This approach aligns with the company’s commitment to making mental health care accessible and practical.
Revolutionizing Therapeutic Alliances
At the core of Two Chairs’ success is its emphasis on solid alliances between therapists and clients. Utilizing a proprietary 300-variable algorithm, Two Chairs ensures an optimal therapist match for each client, a critical factor identified by studies as key to positive mental health outcomes.
With a unique “matching consult” process, 97 percent of Two Chairs clients affirm the strength of their alliance with their therapists, setting a high standard for effective care delivery.
“Industry-wide, only about a third of patients progress to their fourth therapy session, whereas for Two Chairs, 90 percent of their patients do. We proudly invest in thriving companies where quality is a core advantage. Two Chairs has been growing quickly—in all the right ways and for all the right reasons,” said Sheel Tyle, Founder & CEO of Amplo.
Two Chairs’ innovative approach extends to measurement-based care, which tracks real-time therapeutic progress.
This methodology provides valuable insights into clients’ well-being, enabling therapists to tailor treatment plans, empower clients, and strengthen therapeutic alliances. By investing in a comprehensive clinician experience, Two Chairs ensures that quality mental health care is delivered by supported and satisfied clinicians, further enhancing patient outcomes.
Strategic Healthcare Partnerships
The company’s in-network model includes collaborations with Aetna nationally and Kaiser Permanente in Washington and Northern California. These partnerships enable members to access top-quality care at the cost of a copay or coinsurance, fostering affordability and accessibility in mental health services.
Two Chairs’ latest funding round underscores investor confidence in the company’s mission. It propels it toward innovation and impact in mental health care. With a strong focus on therapeutic alliances, measurement-based care, and strategic partnerships, Two Chairs continues to deliver exceptional mental health care at scale.
“At our core, we are committed to ensuring everyone has access to exceptional mental healthcare. This additional funding will enable us to deepen our investments in technology and accelerate our growth, all in the service of extending our lead in care quality,” said Two Chairs CEO and Founder Alex Katz.
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