Little Otter Raises $22M for Pediatric Mental Health Platform

Little Otter Secures $22 Million in Series A Funding

Little Otter, a company focused on digital mental health solutions for children and families, has successfully completed a $22 million Series A funding round. This financing was significantly oversubscribed and spearheaded by CRV, with contributions from Torch Capital, Vast Ventures, Hinsdale, Boxgroup, Able, Carrie Penner Walton, G9, Springbank Collective, and various angel investors.

This recent investment increases Little Otter’s total funding to $26.75 million, bolstering its capacity for expansion and development.

Founding Principles and Growth

Established in May 2020 by Rebecca Egger and Dr. Helen Egger, Little Otter operates on the premise that addressing the children’s mental health crisis necessitates a holistic approach – one that encompasses the entire family unit. Their strategy leverages accessible and scalable precision technology.

Since its inception, the company has experienced a substantial growth rate, reporting a 45% increase in users month-over-month.

Personalized Care Approach

Upon enrollment, families complete a concise questionnaire designed to assess their specific requirements. This information is then used to generate a customized report.

Families are subsequently connected with a dedicated care lead who collaboratively reviews the assessment results to understand the family’s unique circumstances. The care lead then outlines subsequent steps and constructs a tailored care plan.

Each family initiates their mental health journey by establishing clear goals and measurable milestones.

Expansion Plans and Investment Allocation

The newly acquired funding will primarily be directed towards accelerating growth and broadening the platform’s availability across additional states. Currently, Little Otter’s services are accessible in California, Colorado, North Carolina, and Florida.

The company anticipates nationwide availability of its platform by the year 2023.

Technological Advancement and Insurance Coverage

“We will be investing heavily in building our state-of-the-art tech and data platform,” stated Rebecca Egger, CEO of Little Otter, in correspondence with TechCrunch.

“We are bringing on Jim Inoue as our chief technology officer to oversee Little Otter’s technical growth and scale. He will play a pivotal role as we build a new way of identifying and treating early childhood mental health, incorporating data, proprietary assessment methods, and data visualization in the platform.”

Little Otter is also actively pursuing in-network benefit coverage with insurance providers and employers, aiming for universal accessibility across all 50 states by 2023.

Comprehensive Mental Healthcare Services

Little Otter’s platform is grounded in the clinical expertise of co-founder Dr. Helen Egger and delivers virtual, on-demand, and integrated care.

Services include access to parenting specialists, therapists specializing in early childhood, couples therapists, and pediatric psychiatrists.

The company is dedicated to dismantling existing barriers to mental healthcare and ensuring access for all families.

Clinical improvements have been observed in 85% of families utilizing Little Otter’s care plans within a timeframe of just six sessions.

Vision for the Future

Rebecca Egger envisions Little Otter becoming the primary personalized mental health resource for every family.

“There is a massive amount of need for mental health resources in this country but a one-size-fits-all solution will not work,” she explained.

“We are building Little Otter to be the go-to resource for all families and the long-term partner that helps families meet their mental health goals and thrive.”