Coa Raises $3M to launch the world’s first “gym for mental health”
According to the CDC, more than 50% of Americans will be diagnosed with a mental illness or disorder at some point in their lifetime, with 1 in 5 experiencing a mental illness in a given year. Unfortunately, many are blocked from receiving the support they need due to cost, accessibility, and the stigma associated with care.
Enter Coa
Alexa Meyer and Dr. Emily Anhalt teamed up to tackle this generation-defining problem head-on through launching Coa, an online emotional fitness studio for live classes and 1-on-1 therapy.
We are proud to announce our investment in their $3M seed round, alongside Crosslink Ventures, RedSea Ventures, Casper co-founder Neil Parikh, Glossier Head of Comms Ashley Mayer, and NBA player and mental health advocate Kevin Love.
The Pitch
We have all witnessed the physical fitness revolution over the past decade, and the myriad of solutions (and incredible businesses) for every type and budget: traditional gyms, boutique fitness, connected hardware, digital classes, etc.
We believe Coa can jumpstart the wave in mental health with their Emotional Fitness Studio, which offers live therapist-led online classes and interactive group work. And just like a personal trainer at a gym, Coa also offers one-on-one support through therapist matchmaking and private sessions with licensed therapists. The obvious comparison being starting at the gym or a SoulCycle class, then working deeper with a personal trainer.
In this environment, employers are demanding for Coa’s emotionally fit leadership and workplace curriculum, which grew 900% since March 2020 and the beginning of the pandemic. To date, more than 3,500 people have joined Coa’s waitlist for the studio launch.
The “It” Factor
From the moment we met Alexa and Dr. Anhalt, it was clear they were the right duo to tackle mental health. Alexa brought startup and business chops with her previous experience as VP of Revenue at Sequoia-backed Keen IO, and Emily is a clinical Psychologist who helps shape the programming as well as innately understands the therapist side of the equation. In fact, Coa classes are rooted in a proprietary curriculum and framework developed by Dr. Anhalt titled “the 7 traits of emotional fitness”.
Putting it all together, the investment memo basically wrote itself. An enormous market, still at the early stage of adoption, with mission-driven cofounders uniquely positioned to execute.
We also brought some of our portfolio founders together to participate in a ‘workout’ session, and the feedback was overwhelmingly positive.
Read more about Coa’s raise and launch in TechCrunch.
Extra Credits
- Coa is hiring! Look at open roles here.
- Explore their offering for yourself or your company here.
- Keep tabs on them through social: Instagram, Twitter, LinkedIn
