BREAKING: Two Berkeley CS students build a mental health company $42.6M raised across Seed, Series B & Series C Series C led by Sequoia Heritage Care across ~25 states at its peak Therapy · Psychiatry · ADHD testing · IOP · TMS Mission: improve access to high-quality mental health care BREAKING: Two Berkeley CS students build a mental health company $42.6M raised across Seed, Series B & Series C Series C led by Sequoia Heritage Care across ~25 states at its peak Therapy · Psychiatry · ADHD testing · IOP · TMS Mission: improve access to high-quality mental health care
Company Profile · Behavioral Health

Foresight Mental Health

The clinic that thinks like a software company - and treats like a doctor's office.

Berkeley, California Founded 2018 Outpatient + Telehealth Insurance Accepted

Above: the green wordmark, photographed under fluorescent waiting-room light, where most mental health stories actually begin.

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Who They Are Now

A waiting room with a data team.

Somewhere in California, a patient opens a laptop, fills out a short survey about how the week went, and waits for a face to appear.

On the other end is a real clinician - a therapist or a psychiatric prescriber, not a chatbot. But behind that clinician sits something most therapy practices never had: a software platform, a stream of symptom data, and the quiet ambition of two people who learned to code before they learned to bill insurance. That is Foresight Mental Health. It is, depending on which day you catch it, a network of outpatient clinics, a telehealth service, and a stubborn argument that the most human service on earth could stand to be a little more measured.

Foresight offers therapy, psychiatry, medication management, child and adolescent care, ADHD testing, intensive outpatient programs and - in Georgia - TMS. It accepts insurance, which in this corner of healthcare is closer to a personality trait than a footnote. And it does all of this while insisting that care should be tracked, not just delivered.

Most therapy practices remember you by your file. Foresight wanted to remember you by your data - and then, ideally, do something useful with it.

- The Foresight premise
The Problem They Saw

Care you can't get isn't care.

The American mental health system has a cruel design flaw: the moment you most need help is the moment it is hardest to find. Waitlists run for months. The good clinicians don't take insurance. The ones who do take insurance are booked. And when you finally get an appointment, nobody is really measuring whether the treatment is working - they're measuring whether you showed up.

Foresight named the five barriers plainly: access, affordability, experience, quality of care, and stigma. None of them are new. Every mental health startup since the dawn of the App Store has promised to fix them. The difference Foresight bet on was the boring part - actually building the clinics, hiring the clinicians, and taking the insurance, instead of just shipping an app and hoping.

5
BARRIERS NAMED
6
STATED VALUES
~25
STATES AT PEAK
~450
EMPLOYEES (EST.)

A therapy app is easy to build. A clinic that takes your insurance and still answers the phone is the hard part. Foresight chose the hard part.

- On the company's contrarian bet
The Founders' Bet

Two coders walk into psychiatry.

Doug Hapeman and Matt Milford met at UC Berkeley, in a computer-science class - which is to say, nowhere near a psychiatry rotation. Their first idea wasn't a clinic at all. It was a personalized-medicine platform meant to give psychiatrists access to research and patient-outcome data, the sort of tool that assumes the doctors already exist and just need better instruments.

Then they noticed the more inconvenient truth: in much of the country, the doctors didn't exist, or couldn't be reached, or wouldn't take insurance. So the software founders did the least software thing imaginable. They started opening clinics and hiring clinicians, building the supply they had originally hoped to merely optimize. The data platform became the nervous system; the clinics became the body.

Doug Hapeman
CO-FOUNDER & CO-CEO
Matt Milford
CO-FOUNDER & CO-CEO

They came to fix psychiatry's tools and discovered psychiatry needed more psychiatrists. So they built those too.

- On the pivot from platform to provider
The Product

One roof, a full menu.

Plenty of mental health companies do one thing. Foresight tried to do the whole arc of outpatient care - the kind of range that usually requires three separate referrals and a great deal of luck. Symptom surveys and wearables feed data back into treatment, the idea being that a mood, like a blood-pressure reading, is something you can watch change over time.

Therapy

Individual psychotherapy including CBT, DBT and other evidence-based approaches, virtual or in person.

Psychiatry & Meds

Assessment, diagnosis and ongoing medication management for depression, anxiety, ADHD and more.

Child & Adolescent

Care tailored to kids and teens, including behavioral and developmental concerns.

ADHD / IVA-2 Testing

Computerized continuous-performance testing to support an ADHD diagnosis.

Intensive Outpatient (IOP)

Structured, higher-acuity treatment for moderate to complex needs - in person and virtual.

TMS (Georgia)

Non-invasive brain stimulation for treatment-resistant depression.

Therapy, psychiatry, ADHD testing, IOP, TMS, maternal mental health - under one roof. Most clinics give you a referral. Foresight gave you a menu.

- On the breadth of services
Milestones

The short, eventful life of a mission.

2018

The clinic begins

Founded in Berkeley, California, after a Berkeley computer-science friendship turns into a mental health company.

2019

First backers

Early funding arrives, with support from Alchemist Accelerator and What If Ventures.

2021

Scaling up

A reported ~$25M Series B fuels rapid expansion of clinics, clinicians and telehealth across states.

Feb 2022

The value-based pitch

Foresight details plans to bring tech-driven, value-based outpatient mental health care nationwide, using wearables and data.

Jul 2022

The reckoning

A cash crunch forces layoffs of roughly 200 staff and a leadership change to chart a turnaround.

Sep 2022

Series C lifeline

A Series C round led by Sequoia Heritage helps stabilize operations and keep the mission alive.

The Proof

Money tells a story too.

Roughly $42.6M flowed into Foresight across three rounds. The shape of that money - a small start, a big middle, a survival round - reads like the company's whole arc in one chart.

Funding by round

RELATIVE SCALE · SOME AMOUNTS UNDISCLOSED · TOTAL ~$42.6M
Seed (2019)
undisclosed
Series B (2021)
~$25M reported
Series C (2022)
Sequoia Heritage

Bars show approximate relative scale, not audited figures. The Series C is the bar that kept the lights on.

The investors weren't betting on an app. They were betting that someone could finally make outpatient mental health both human and measurable - and get paid for the outcome.

- On why the money came
The Mission

Get paid for getting people better.

Foresight's stated mission is almost stubbornly simple: improve access to high-quality mental health care. The interesting part is the financial machinery underneath it. The company has pushed toward value-based care - arrangements where payers reward outcomes rather than visit counts. It is a tidy idea and a brutally hard one, because measuring mental health outcomes is roughly as easy as measuring weather a month out.

That is exactly why the data matters. The symptom surveys, the wearables, the patient-specific profiles - they aren't gadgetry for its own sake. They are the evidence a clinic needs to walk into a payer's office and say: here is proof our patients got better. Six values guide the work - clarity, excellence, inclusivity, integrity, stewardship and transformation - and the last one, transformation, is the whole bet in a single word.

Anyone can deliver therapy. Proving it worked - well enough that an insurer pays for the result - is the part nobody had solved. That was the point.

- On value-based mental health care
Why It Matters Tomorrow

The waiting room, revisited.

Foresight's road has not been smooth. The same expansion that proved demand also nearly burned the company down in 2022, and the turnaround was real, painful, and public. Building clinics is expensive. Taking insurance is slow. Measuring the mind is humbling. None of that has changed.

But return to that opening scene - the patient, the laptop, the short survey, the real face appearing on screen. Before companies like Foresight, that patient might have waited months, paid out of pocket, or simply given up. Now the appointment exists, the insurance is accepted, and the survey they filled out before the visit isn't busywork - it's the start of a record that follows their progress instead of just their attendance.

That is the modest, durable thing Foresight changed about the waiting room. Not magic. Not a cure. Just a clinic that bothered to keep track. In mental health care, that turns out to be a surprisingly radical act.

The future of mental health care won't be an app that replaces your therapist. It'll be a clinic that remembers what worked. Foresight made an early, costly bet on that.

- Closing argument