Backpack Healthcare Raises $14 Million in Series A Funding to Revolutionize Pediatric Mental Health Care
ELKRIDGE, Md., May 7, 2024 /PRNewswire/ -- Backpack Healthcare (formerly Youme Healthcare), an online pediatric mental healthcare provider, announced today that it has raised a $14 million Series A funding round led by PACE Healthcare Capital with participation from ECMC, Techstars, Collab Capital, Bridge Builders Collaborative, Portland Seed Fund, Hopelab, Rethink Education, Genius Guild, and Unlikely Collaborators, along with notable angel investors including Maya Ghosn Bichara and Jeffrey Walker. The pioneering health technology company, led by Founder & CEO Hafeezah Muhammad, is utilizing cutting-edge AI to transform pediatric mental health care and address the escalating youth mental health crisis, with a particular focus on medicaid-enrolled youth.
- The pioneering health technology company, led by Founder & CEO Hafeezah Muhammad, is utilizing cutting-edge AI to transform pediatric mental health care and address the escalating youth mental health crisis, with a particular focus on medicaid-enrolled youth.
- Over 40 million children in the U.S. rely on Medicaid or CHIP for healthcare coverage, yet only 14% of mental health clinicians accept Medicaid as insurance, highlighting the urgent need for accessible solutions.
- In response to this pressing issue, Backpack Healthcare is developing innovative and inclusive solutions with its AI-powered app and teletherapy services to provide indispensable support to all young individuals navigating mental health challenges.
- "The funding we have raised underscores the U.S. healthcare system's need for more inclusive, tech-enabled solutions to tackle the growing pediatric mental health crisis," said Hafeezah Muhammad, Founder & CEO of Backpack Healthcare.