Talkiatry Rakes In $210M to Scale Virtual Psychiatry Group
•February 12, 2026
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Why It Matters
Talkiatry’s sizable financing underscores growing investor confidence in scalable, outcomes‑focused telepsychiatry, a segment poised to alleviate mental‑health provider shortages and meet payer demand for measurable results.
Key Takeaways
- •$210M Series D led by Perceptive Advisors.
- •Over 800 psychiatrists, 300 therapists serve 3M visits.
- •87% anxiety, 86% depression patients improve after two visits.
- •In‑network with 100+ payers, 50+ health system referrals.
- •No IPO plans; focus on scaling outcomes-driven model.
Pulse Analysis
The telehealth boom has accelerated beyond primary care, with mental‑health services emerging as a high‑growth niche. In 2024 alone, several digital health firms secured megafunding rounds, signaling investor appetite for scalable solutions to chronic provider gaps. Talkiatry’s $210 million Series D, the latest of these sizable deals, positions the company as the largest private employer of psychiatrists in the United States. Backed by heavyweight investors such as Perceptive Advisors and Andreessen Horowitz, the capital infusion is earmarked for national expansion, technology upgrades, and deeper integration with health‑system referral networks.
Talkiatry differentiates itself through a full‑stack model that combines proprietary matchmaking software, a salaried clinician workforce, and a hybrid reimbursement strategy blending fee‑for‑service with value‑based contracts. The platform’s intake survey quickly aligns patients with psychiatrists or therapists, reducing administrative friction and improving access. Clinical data released by the company show that 87 % of anxiety patients and 86 % of depression patients report symptom improvement after just two virtual visits, while more than 60 % achieve remission. These outcomes, coupled with therapeutic alliance scores 22 % above industry averages, reinforce its claim of quality at scale.
From a business perspective, the new funding enables Talkiatry to deepen its payer relationships—currently in‑network with over 100 insurers—and to scale its outcome‑based contracts, a model increasingly favored by value‑based care initiatives. Although the CEO has ruled out an imminent IPO, the capital base gives the firm flexibility to pursue strategic acquisitions or to build a broader behavioral‑health suite. As mental‑health demand continues to outpace supply, Talkiatry’s growth trajectory could reshape provider economics, prompting competitors to adopt similar full‑stack, outcomes‑driven approaches.
Talkiatry Rakes In $210M to Scale Virtual Psychiatry Group
Talkiatry Announces $210 Million Series D Financing Round
The healthcare startup sector has already seen a handful of investment megarounds this year, including OpenEvidence’s $250 million Series D and Midi Health’s $100 million Series D. The latest one came Thursday, when telepsychiatry provider Talkiatry announced the close of its own Series D financing round.
The $210 million round, led by Perceptive Advisors, brings the startup’s overall fundraising total to more than $400 million. Other investors that participated in the round include Andreessen Horowitz, blisce, Sofina and Left Lane Capital.
Talkiatry, founded in 2019, aims to help address the provider shortage and care‑access crisis that continues to plague the mental‑health space by expanding access to virtual psychiatry and therapy nationally.
“Patients struggle to find the right clinician, get in quickly and stay engaged in care long enough to improve. At the same time, payers and health systems need partners who can deliver strong, measurable outcomes over time at scale,” explained Talkiatry CEO Robert Krayn.
The company employs more than 800 psychiatrists and 300 therapists and has delivered 3 million patient visits to date. It is in‑network with more than 100 payers nationwide.
Patients who use Talkiatry’s platform begin with a brief intake survey and are then matched with a clinician based on their needs and availability, with virtual visits following. Krayn said that the startup built the process to reduce friction for patients, including options like “insurance discovery” so they don’t have to hunt for an insurance card to move forward.
“We’re also investing in new engagement models between visits because a lot happens during the time between appointments, and that context can improve care when it’s captured safely and appropriately,” he stated.
Patients often access the platform after being referred by their traditional provider — Krayn noted that Talkiatry has partnered with more than 50 health systems to take referrals.
The startup’s user data demonstrates that its model can boost patient outcomes, with 87 % of its anxiety patients and 86 % of its depression patients reporting symptom improvement after just two visits — and 67 % and 62 %, respectively, reporting no longer having clinically significant symptoms after two visits, Krayn shared.
He said the company makes its money via a mix of traditional reimbursement and value‑based arrangements tied to performance and outcomes — and highlighted the fact that it doesn’t have any subscription‑based payment models or pharmacy affiliations.
With a Series D round of this size, questions naturally emerge surrounding a potential market exit, but Krayn declared that Talkiatry has no imminent plans for an IPO. Instead, he and his team are focused on “doing the work needed to responsibly run a large‑scale enterprise.”
That enterprise exists alongside a seemingly endless slew of behavioral‑health and telehealth options — but Krayn maintains that Talkiatry is the only one with a focus on psychiatry and is the largest private employer of psychiatrists in the U.S.
In his eyes, Talkiatry also stands out because it is a full‑stack provider group that builds its own technology and employs its own clinicians — which helps ensure clinical quality at scale.
“We also lead with outcomes, including therapeutic alliance ratings that are 22 % higher than industry peers with 92 % of patients building a strong rapport with their clinicians,” Krayn added.
In a crowded and evolving behavioral‑health landscape, Talkiatry’s claims will ultimately be tested over time.
Photo: Luis Alvarez, Getty Images
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