Announcing Our Investment in Rappore
Over the past decade, technological advancements combined with a decreased stigma surrounding mental health have allowed for the rise of the “telemental health” space. The market for digital mental health solutions is projected to grow to $747 million in the US in 2021, 3x more than what it was in 2016.
Now, as COVID-19 continues to spread and in-person therapy is not an option for many, the shift to telemedicine is being accelerated. MedStar Health, a health system in the Baltimore/Washington area, saw daily telehealth visits go from 2 to 4,150 in just two months. Along with increased patient adoption, we have seen both private and public insurers expand their coverage to include a vast array of telehealth services in the last couple of months.
“You never want a serious crisis to go to waste.”
The pandemic has exposed a clear unmet need for high-quality digital health solutions. While this has attracted many healthcare innovators, it has also attracted “bad actors” looking to exploit the situation for a quick profit.
Many mental health care providers are aggregating clinicians that are no match for their complex and unique patients. There is little to no variation in the treatment provided to different patients that suffer from vastly different issues. To make matters worse, many therapists prematurely prescribe drugs to patients that could otherwise receive help through alternative avenues. Some online providers are so bad that they have been dubbed the name “pill mills” in reference to how easy it is to obtain drugs from them. Even Talkspace, the therapy-by-text company that sits near the forefront of the online therapy space, has come under fire for faking positive reviews. This came after the CEO of AffordADoc pleaded guilty in a 2019 $424 million telemedicine fraud scheme in which patients were prescribed treatments without any sort of medical evaluation.
The bad actors approaching the opportunity the wrong way have only emphasized the need for a high-quality digital therapy solution.
It is with this in mind that we are excited to announce A-Level’s investment into Rappore’s seed round — but more importantly, the launch of the company.
Rappore is pioneering the right way to approach telemental health. By prioritizing empathy and focusing on the bond between the therapist and the patient, Rappore delivers sustainable, outcome-based treatment to patients. Plus, while traditional providers struggle with the rapid shift to digital solutions, Rappore is pioneering a seamless “one-stop” online mental health offering that optimizes convenience and accessibility for patients by combining clinical excellence with coordinated specialty care.
More so than many other industries, success in the mental health space is heavily dependent on the quality of the people. Rappore was founded by Brian Kinsella, who previously worked as an analyst at Goldman Sachs and a captain for the US Army. Brian is also the founder of Stop Soldier Suicide, an organization leading the battle against veteran suicides. Through working closely with hundreds of troubled veterans, Brian has developed a deep sense of empathy for others struggling with mental health. It is the same framework of empathy that he uses to fuel the exceptional care provided to Rappore patients.
Brian is joined by co-founders Fred and Betty Jeanne Kass, two healthcare experts with 80 years of combined experience in the mental health space. Fred served as Clinical Vice-Chair at Columbia University and has worked closely with people from all walks of life, from mentally ill homeless people to CEOs of some of the nation’s largest companies. Betty Jeanne founded and directed the Columbia University Day Program, a program that has improved the lives of thousands of patients that have struggled to cope with severe life crises.
In their work, the trio has developed a strong sense of passion and empathy for their patients. They have also realized that patients cannot be reduced down to a diagnosis; patients have complex needs that require complex treatment. Brian, Fred, and Betty’s collective knowledge of the space paired with operational expertise has made this investment particularly exciting and meaningful.
The rest of the clinical team is rounded out with seasoned professionals with expertise in specific mental health subsectors, including addiction, eating disorders, learning disabilities, and much more. The team at Rappore understands that each patient has complex and unique issues; that is why Brian has put together a superstar team of doctors and therapists that have a wide range of specialties.
Although conceived before the pandemic, Rappore’s services are now more critical than ever. Stay-at-home orders have disrupted the livelihood of millions of Americans, evident by the 23% rise in US adults showing symptoms of anxiety or depressive disorder. It seems as though we are standing at a pandemic-fueled nexus of two megatrends in healthcare: the rise of telemedicine and mental health services. It is becoming increasingly essential to lean on resources such as Rappore throughout these troubling times.
At A-Level, we feel incredibly fortunate to be able to invest in such an impactful company and cannot wait to invest in more life-changing startups like Rappore.
Written by Isaac Scoville & Arman Koul.
