SALT LAKE CITY, May 19, 2020 (GLOBE NEWSWIRE) -- Tava Health, a convenient and accessible mental telehealth platform for employers, today announced the close of a $3 million seed round led by Peterson Ventures. These funds will help Tava Health expand its offering into additional geographic markets and continue its commitment to making mental health resources more accessible for Americans nationwide.

“Mental health issues are among the most pressing problems of our generation, affecting nearly all of us to some degree,” said Dallen Allred, CEO of Tava Health. “The unfortunate reality is that meeting regularly with a therapist is just as expensive and difficult today as it was decades ago. By partnering with employers and removing barriers to care through technology, we’re paving the way for their people to get excellent professional care with unprecedented ease. The modern workforce is beginning to expect a quality mental health benefit as a hallmark of any great employer, and we’re proud to be on the forefront of making this possible.”

The funding comes at a time when demand for remote healthcare services, particularly mental health, is surging as feelings of isolation, stress, and anxiety hit an all-time high. As a result, Tava Health has approximately doubled its number of patients served each week for nearly two months, demonstrating an acute and immediate need for behavioral telehealth services nationwide.

“Even prior to the outbreak of COVID-19, nine out of ten employees wished their employers would do more to support their mental health, recognizing that it leads to greater work productivity and higher job satisfaction,” said Randall Lloyd, partner at Peterson Ventures. “These trends are only accelerating with millennial and Gen Z employees, and are unfortunately made more acute by the unique health crisis we face today. Robust mental health assistance will be a critical differentiator for modern employers who want to attract, retain, and get the most out of their employees.”

Since launching in August 2019, Tava Health has driven 10 times more utilization of mental health resources among employees than traditional mental health benefits, largely due to the convenience and accessibility of its service. While most employers the company partners with have impressive utilization rates of 12 to 15 percent among employees, some, including Chatbooks, have experienced more than twice that amount.

“The physical and mental health of our employees has always been top-of-mind for Chatbooks. It’s something we’ve spoken about openly as a company for several years, so when we first discovered Tava Health, we knew immediately that it was something we wanted to provide for our employees,” said Nate Quigley, CEO of Chatbooks. “The convenience of being able to speak with a licensed professional without taking time off work or driving across town is really appealing, and means everyone can access the resources they need, when they need it. Since introducing this benefit, we’ve received multiple messages from employees about how helpful it’s been, and we’re delighted to see so many of our employees already taking advantage of this great resource.”

Chatbooks began offering Tava Health’s services to its employees in January 2020. By March, nearly 50 percent of the company had signed up and 25 percent had already spoken with a professional. 

“Caring for one’s mental health is a matter of hygiene as important as maintaining one’s physical or dental health.” Allred said. “We’re grateful to our investors and the employers working with us so far for their help in making these resources available and look forward to providing regular, ongoing emotional health support to even more people moving forward.”

For more information on Tava Health and its services, visit tavahealth.com.

About Tava Health
Founded in 2019, Tava Health is an online mental health company that partners with employers to provide convenient, accessible mental health resources to employees and their families by reducing costs, improving quality, and increasing access to therapy. Tava Health’s mission is to improve emotional health through frictionless, technology-enabled care, and break down the barriers of therapy by making mental health checkups as routine as other healthcare practices. For more information, visit www.tavahealth.com.

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