Seattle startup Heard raises $10M to ease administrative burden on healthcare providers

Heard co-founders Andrew Riesen (left) and Victoria Li. (Heard Photos)

Seattle startup Heard, which helps mental health professionals manage accounting, payroll and related services, has raised $10 million in Series A funding.

The funding builds on $1.3 million the startup raised last year as demand for mental health grew during the pandemic. Heard’s software helps to remove some of the administrative burden from private therapists.

“Every hour a therapist spends arguing about finances is an hour they’re not making money or doing work that satisfies and energizes them,” CEO Andrew Riesen said in a post announcing the funding Thursday.

Riesen, who previously worked at an internal incubator within PwC, co-founded the company in 2019 with Victoria Li, formerly an engineer at Fitbit, Lantern and Wefunder.

Individual therapists can sign up with Heard for $149 per month and group practices for $249. Annual subscriptions are discounted.

The startup is part of an ecosystem of mental health startups in the Pacific Northwest, including Eugene, Oregon-based Ksana Health, which is developing a “mental health Fitbit,” and Seattle-based WeConnect, which is developing an app and provides peer support for people recovering from addiction.

Other companies are developing health practice support platforms, with different focus areas. New York City-based Capable Health provides patient onboarding, messaging and video chats, and Portland, Oregon-based Owl helps automate patient screening, monitoring and decision support.

The new Series A funding round was led by Footwork and included Founders’ Co-Op, Act One Ventures and individual backers including Akins Van Horne, Cat Lee, Charley Ma, Cindy Bi, D’Arcy Coolican, Matthew Goldman, Nikhil Dixit and Nitya Subramanian.

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