Handspring Raises $12M to Transform Youth Mental Health Through Virtual Therapy

Handspring, a mental health provider specializing in high-quality virtual therapy for youth, young adults, and their families, has secured $12M in Series A funding led by Cobalt Ventures. The round included participation from NextView Ventures, nvp capital, 25madison, Arkitekt Ventures, VamosVentures, Hyde Park Angels (HPA), Cornucopian Capital, and two health plans.

The financing will accelerate Handspring's mission to redefine youth mental health care by addressing the national shortage of qualified pediatric mental health providers through its fully employed, expertly trained therapist workforce. Unlike many platforms that rely on loosely overseen gig-based networks, Handspring invests deeply in its clinicians through structured onboarding, weekly individual and group consultations, and ongoing training in evidence-based care.

The company's comprehensive approach includes a variety of skills-based therapies such as Cognitive Behavioral Therapy (CBT), Dialectical Behavior Therapy (DBT), and exposure therapy, alongside parent coaching. A standout feature is its first-of-its-kind Complex Care program, designed to support high-risk youth who are often underserved, turned away from traditional outpatient services, and may otherwise face unnecessary referrals to higher levels of care like emergency departments or intensive outpatient programs.

"Handspring is meeting the needs of children, teens, and young adults with complex challenges that many providers can't or won't treat," said Kwasi Kyei, President and co-founder. He added, "And it doesn't stop there — we take a whole family approach by working with parents so they can support their children outside of therapy sessions".

Supporting this care delivery model is a fully integrated technology platform that includes custom-built patient and provider portals, a homegrown AI-powered clinical scribe, and a therapist matching engine. These tools streamline operations, minimize operational overhead, and create a more seamless experience for both families and providers. The new funding will enhance this proprietary technology platform, including further development of AI tools focused on automating operations and improving care outcomes.

Handspring's dedication to quality is reflected in its clinical outcomes: 96% of families report improvement in their daily life upon discharge, the company maintains a Net Promoter Score of 82, and 84% of patients treated for anxiety and 79% of patients treated for depression showed clinical improvement, as measured by validated clinical scales at the completion of their care.

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