TARA Mind, a mental health company that enables safe and affordable access to psychedelic-assisted therapy (PAT), has received $3 million in pre-seed funding from Red Cell Partners, an incubation firm that builds and invests in technology-led companies that bring revolutionary advancements to healthcare and national security.
TARA Mind has emerged from the shadows as more than 70 million Americans struggle with mental health issues and suicide is the top cause of death in the United States. Despite this, despite more than $280 billion spent on mental health services in 2020, more than half of those with mental illnesses did not receive any treatment last year.
The issue is huge and complex, exacerbated by skewed incentives, a global epidemic, and a long-standing stigma around psychedelics and other alternative medicines.
The capital infusion will support the company’s objective to address systemic concerns such as accessibility and affordability, as well as increasing care quality and treatment efficacy challenges.
To accomplish this, it is establishing an industry-leading network of vetted PAT providers in the United States and overseas, as well as developing patented digital measurement-based care tools meant to assure safety, maximize outcomes, and trigger early interventions when needed.
These technologies will be provided only to its global provider network and will serve as the foundation for the data-driven measuring framework that facilitates value-based reimbursement for PAT by employers and payors alike.
Red Cell Partners is an incubation organization that creates fast scalable technology-led firms that bring transformational advances in healthcare and national security to market. Red Cell is building powerful tools and solutions to address our nation’s most critical problems, united by a common sense of duty and a deep confidence in the power of creativity.