Trek Health, the payment and insurance workflow automation platform for mental health provider groups, has closed an oversubscribed $2.7M Seed Round led by Lionheart Ventures.
Trek Health eliminates the lengthy manual tasks required for financial transactions for mental health providers and enables instant reimbursement of insurance claims for provider groups.
Trek Health’s Board of Directors will be joined by Shelby Clark, Venture Partner at Lionheart Ventures and Founder of the world’s largest car sharing marketplace Turo.
Trek Health’s individual and institutional investors include Founder Collective, Jack and Max Altman of Altman Capital, Matt Brezina of Ford Street Ventures, Snapdocs CEO Aaron King, Okta CEO Frederic Kerrest, former Salesforce Chief Strategy Officer Clarence So, former One Medical VP of Operations Rich Menendez, and others.
“Mental health providers choose their profession to help those in need – not to get bogged down on manual tasks that should be automated just to get paid. Trek Health is working to serve healthcare providers and patients by bringing forward innovative fintech solutions and an intelligent auto-coding engine to facilitate better connections between providers and insurers, elevating the patient experience along the way,” said Trek Health CEO and Founder Dilpreet Sahota. “Our goal is to enable mental health providers and facilities to spend all of their time on care delivery, instead of tedious tasks to get paid. We are starting with mental health, and plan on expanding into other healthcare verticals over time.”
“Financial stressors are one of the preeminent barriers to access adequate Mental Health care for millions of patients in the United States,” said Shelby Clark of Lionheart Ventures, and Founder of Turo. “Trek Health is financially empowering Mental Health providers and patients by making working with Insurance easier than ever before, solving the acute problem while creating a unique economic opportunity in the process. Lionheart Ventures is excited to lead this round in pursuit of a better future for the Mental Health care system in the United States.»
Trek Health’s platform integrates with EHR systems and provides a suite of solutions for mental health providers including instant claim reimbursement, automatic claim generation and submissions, and payer enrollments across 900+ insurance networks.
The company has seen an early surge in demand, serving a broad set of customers across the United States including inpatient mental health rehabilitation centers, outpatient psychiatric facilities, outpatient psychotherapy facilities, and venture capital-backed mental health startups.