On February 11, 2021,  Modern Health, the mental health and wellness platform supporting over 220 enterprises globally, announced that less than four months after closing a $51 million Series C financing, the company has secured an additional $74 million in a Series D financing round led by Founders Fund. Lachy Groom also invested in the round. Wilson Sonsini Goodrich & Rosati represented Modern Health in the transaction.

This latest investment brings the company’s total funding to over $170 million in less than two years and raises its valuation to $1.17 billion, making Modern Health the fastest entirely women-founded company in the U.S. to reach unicorn status.

Modern Health saw continued growth in demand for its mental health platform and has doubled its revenue since the company’s recent Series C funding financing, led by Battery Ventures in October. The investment from Founders Fund will help the company to continue its impressive upward momentum, supporting additional enterprises and offering a variety of accessible, innovative, and customized mental health management options to workforces worldwide.

The need for direct access to mental health support at work has been amplified by a wave of new stressors created by the global COVID-19 pandemic. Modern Health’s comprehensive, science-backed platform allows employers to support the dynamic needs of their workforce. Leveraging traditional mental health assessments, therapists, coaches, and digital content, Modern Health’s solution creates a customized plan for each employee to proactively manage their mental health needs.

The Wilson Sonsini team that advised Modern Health on the transaction includes Damien Weiss, Jordan McDonnel, Travis Scheft, and Abi Riddle.

For more information, please see Modern Health's press release. Additional coverage can be found on Bloomberg.