The company that made therapy something your insurance card actually covers.
Grow Therapy's mark, photographed in its natural habitat: an app icon, a billing portal, and roughly 220 million insured lives behind it.
It is 9 p.m. on a Tuesday. Someone opens an app, types in their insurance, and forty seconds later is looking at a list of licensed therapists who will see them this week - for a copay that averages twenty-one dollars. No spreadsheet of out-of-network superbills. No three-week wait. No call to a clinic that stopped taking new patients in 2019.
That ordinary moment is the entire point of Grow Therapy. The company runs a national behavioral health network and the software that makes it run: a marketplace where patients find in-network care, and a back office that lets independent therapists actually accept insurance without drowning in paperwork. In 2025 it carried seven million therapy and psychiatry visits. In March 2026 it raised a $150 million Series D and crossed a $3 billion valuation with roughly a billion dollars in revenue behind it.
Here is the quiet absurdity at the center of mental healthcare: the country is short on care, and yet a large share of therapists won't bill your insurer. Not because they're greedy - because the alternative is worse. Credentialing with a single health plan can take months. Claims get denied for reasons no human can explain. Billing is a second unpaid job. So clinicians go cash-only, charge $150 to $300 a session, and the people who most need help get a polite referral list and a closed door.
The result is a market that fails both sides at once. Patients can't afford care. Providers can't afford to make it affordable. Everyone agrees the system is broken; nobody wants to do the unglamorous plumbing required to fix it.
This was not an abstraction for the founders. CEO Jake Cooper grew up managing ADHD, seeing a psychiatrist his parents paid $300 a session to access because they couldn't find anyone in-network. The bill was the lesson.
Jake Cooper, Manoj Kanagaraj, and Alan Ni met at Duke. Cooper graduated Summa Cum Laude and went off to private equity at Blackstone and Apollo; Ni did product at Stripe and Google. The fashionable thing to build in 2020 was a slick direct-to-consumer therapy app with a calming logo. They built the opposite.
Their bet: the bottleneck in mental health isn't a shortage of good apps - it's the administrative wall between therapists and insurance. Tear down credentialing, billing, and claims, and you don't need to manufacture supply. You unlock the therapists who are already out there but priced into cash-only corners. Make a solo practitioner operate like a hospital billing department, minus the hospital, and the whole equation flips.
Co-Founder & CEO. Ex-Blackstone, ex-Apollo. The childhood ADHD bill that started it all.
Co-Founder & CTO. Built the engine that turns insurance complexity into a button.
Co-Founder. Former product manager at Stripe and Google.
Three people who looked at the least glamorous problem in healthcare and said: that one.
A platform to help therapists launch in-network private practices.
SignalFire backs the credentialing-and-billing thesis.
Led by TCV, co-led by Transformation Capital. The platform scales nationally.
Sequoia leads; the PLUS Capital athlete-and-artist collective joins. Outcomes get measured, not assumed.
TCV and Goldman Sachs Alternatives lead; Menlo Ventures and BCI join. Flagship deals with Guidewell and Lucet.
For patients, Grow is a matchmaker: filter by insurance, specialty, availability, and cultural fit, and book someone who takes your plan. For providers, it's the entire back office - credentialing with 125+ health plans, claims, scheduling, EHR, and client management - bundled so a clinician can run an in-network practice without hiring a billing team.
Then there's the part that gives time back. Grow's AI clinical notetaking trims documentation by about 70 percent, handing therapists back the hour insurance paperwork used to steal. The companion app holds a 4.9-star rating and keeps care going between sessions. And measurement-informed care means the company can say what most of healthcare only hopes: that the treatment is working.
Find an in-network therapist or psychiatrist in minutes - by plan, specialty, and fit.
Credentialing, billing, claims, scheduling, EHR. The unsexy stuff, automated.
~70% less documentation time. The paperwork tax, refunded.
Validated outcome tracking. Proof instead of vibes.
Skepticism is fair - healthtech is a graveyard of good intentions. So here is the receipt: over two million people served, ten million lifetime visits, and a network spanning 220 million insured lives across Medicaid, Medicare, and 125+ commercial plans. Eighty percent of clients show measurable symptom improvement within thirty days. The Net Promoter Score is 85, a figure most healthcare brands would frame and hang on a wall.
A chart that mostly explains why anyone agreed to be in-network in the first place.
The cap table is a tell. Sequoia, TCV, Goldman Sachs Alternatives, Menlo Ventures, SignalFire, and Transformation Capital are in. So are Anna Kendrick, Lily Collins, Dak Prescott, and Joe Burrow, via the PLUS Capital collective. Flagship payer partnerships with Guidewell and Lucet, plus care coordination with Circle Medical, extend the network's reach. When New York's governor announced a Grow expansion creating nearly 200 jobs, it was a sign the plumbing had become infrastructure.
"Grow has consistently exceeded lofty expectations through world-class execution."
- Matt Murphy, Menlo Ventures"TCV loves backing great entrepreneurs targeting very large market opportunities."
- Jay Hoag, TCVGrow describes its job as breaking down the barriers - cost, insurance complexity, provider scarcity - that keep people from care that works. It's a modest-sounding mission for a company now valued at three billion dollars, which is rather the point. The ambition isn't to be the therapy. It's to be the reason therapy is reachable: mental healthcare that works for each and every person seeking it, delivered by independent providers who are paid fairly and supported fully.
Demand for mental healthcare isn't slowing, and the administrative wall isn't falling on its own. As Grow pushes into employer plans and deeper payer partnerships, the question stops being whether insurance-covered therapy can scale and becomes how far. The measurement layer matters here too: a company that can prove outcomes can be paid for outcomes, which is where healthcare keeps insisting it wants to go.
Plenty can still go wrong - reimbursement politics shift, competitors crowd in, and growth at this speed strains any network. But the structural bet looks sound: remove the paperwork, and the supply was there all along.
Back to that Tuesday night. The person on the couch books a therapist who takes their plan, pays a copay smaller than dinner, and shows up next week. Five years ago that sequence was a small miracle. Grow Therapy's quiet ambition is to make it the most boring thing in the world.