Nearly 1/5th of US adults are living with mental illness. The pandemic has had a significant impact that has made continuity in mental health care challenging. Like in other aspects of public health, technology has moved to the forefront to make care accessible in the wake of lockdowns, disruptions, and labor shortages. Real is an app-based mental health subscription platform that provides access to high-quality therapists as well as a suite of curated therapist-designed digital offerings. The platform has built a rich offering of on-demand programs and tools that address some of the most common issues and challenges people face when it comes to mental health. Currently, in the US, there are only enough therapists to provide 1:1 treatment to 7% of the population. By leveraging its digital platform, Real is scalable to serve the immediate needs of people before they are in acute crisis at an accessible price point of only $13/mo for unlimited access; in comparison, a single therapy session costs $300. By taking out of the bureaucracy typically associated with the healthcare system, the company is also able to provide tailored care to its members and reach populations that have traditionally been underserved in public health while ensuring adherence and sustained engagement.
AlleyWatch caught up with Real CEO and Founder Ariela Safira to learn more about the business, the company’s strategic plans, latest round of funding, which brings the total funding raised to $53M, and much, much more…
Who were your investors and how much did you raise?
Real, a mental health care company breaking the boundaries around access to care by offering an affordable, innovative, clinician-backed membership model for all, announced their Series B funding round of $37M and their newly appointed Advisor, professional soccer player Megan Rapinoe. Real is thrilled to share this funding announcement as it continues its growth, helping members access clinically-effective tools and resources to make mental health care an accessible, daily, practice. Led by Owl Ventures, the world’s largest venture capital firm dedicated to transformative education companies, Owl Ventures is joined by former Cityblock CEO and Chief Health Officer Iyah Romm and Dr. Slyvia Romm and investors from previous rounds including Lightspeed Venture Partners, Female Founders Fund, Forerunner Ventures, and BBG Ventures.
Tell us about the product or service that Real offers.
Nixing appointments, Real’s unique and effective service provides members with high-quality care at a lower price point (for just $13 a month!) – anytime, any place. Outside the traditional 1:1 therapy model, the monthly membership provides a suite of on-demand, digital programs, and tools for some of the most commonly felt inner struggles. Designed to keep up with any lifestyle, members work through the app’s Pathways,, accessing audio-based and interactive therapist-designed programs for:
- Getting to Know Yourself
- Meeting Your Body Where It’s At
- Working With Your Depression Inside and Out
- Navigating Adult Friendships
- Communicating Like a Damn Good Partner
- WTF Am I Doing With My Career
- What to Do With All This Anxiety
- How to (Really) Feel
What inspired the start of Real?
When a close friend attempted suicide, I was first exposed to the flaws of the mental health care system. My past experiences inspired me to build Real, an affordable app-based solution that offers resources for creating a mental health care routine, led by a culturally-rich team of therapists to better represent a wider demographic of users. I hope Real can guide all users on their mental wellness journeys.
How is Real different?
We’re building an entirely new care model — one that resonates with people today comes at a price point folks can afford, and reaches people before rock bottom. While 1:1 therapy serves a phenomenal purpose for some people, we only have enough therapists to offer 1:1 therapy to 7% of the population — Real is building a platform that can scale to the entire population, track your mental health regularly such that we can intervene and help members before crisis, and offer care that works.
What market does Real target and how big is it?
We’re building a mental health care system that is accessible and approachable for everyone, starting with the Gen-Z and Millennial audiences. Currently, we estimate there are 268 million underserved consumers in the US, given the shortage of therapists. We are excited to expand into other demographics, and reach the entire American population over time.
What’s your business model?
Real is a monthly membership model reaching consumers directly through a suite of on-demand programs and tools that make taking care of your mental health an essential daily practice.
What are your post-COVID office plans??
We are a remote-first company with employees all across the country. We have an office in the Flatiron that NYC-based employees are welcome to work from following proper health and safety guidelines. This quarter, from April through June we’re implementing a four-day workweek pilot. All Real employees have Friday off in an effort to see if a four-day workweek promotes work/life balance and increases well-being. We’re also proud to offer a quarterly mental health break. The entire company shuts down for the last week of the quarter in order to experience collective rest. Real is proud to be building a mentally well workplace in support of building a more mentally well world.
What was the funding process like?
This funding round was exciting as we’re reaching a moment in time where investors are eager for innovative mental health solutions. We’re finally breaking the mold as an industry, and stakeholders on both the operating and investing sides can clearly see the need for innovative healthcare solutions that look completely different from the traditional care model. We’re also seeing a more diverse population of investors fund healthcare, enabling new thought and creativity in the space. I appreciated the opportunity to speak with a wide range of investors and to close our oversubscribed $37 million round on a short timeline.
This funding round was exciting as we’re reaching a moment in time where investors are eager for innovative mental health solutions. We’re finally breaking the mold as an industry, and stakeholders on both the operating and investing sides can clearly see the need for innovative healthcare solutions that look completely different from the traditional care model. We’re also seeing a more diverse population of investors fund healthcare, enabling new thought and creativity in the space. I appreciated the opportunity to speak with a wide range of investors and to close our oversubscribed $37 million round on a short timeline.
What are the biggest challenges that you faced while raising capital?
The biggest challenge is that I had COVID-19 while fundraising, and pitching amidst brain fog was not ideal.
What factors about your business led your investors to write the check?
Investors were most excited about our proven clinical outcomes. Across the board, we heard investors share that they are not actually seeing proven clinical outcomes from Series B-stage companies, and were most keen on Real became of the clinical efficacy we’ve grounded our model in from the jump, and the clinical efficacy we’ve proven since.
What are the milestones you plan to achieve in the next six months?
We’re expanding Real to the masses! We spent 2021 entirely focused on clinical efficacy and product engagement, setting us up to scale a clinically effective, engaging care model to the masses upon Series B. We’re excited to do exactly that, and to continuously improve the member experience.
What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?
Focus on the impact you are delivering to your customers. It’s easy to get distracted by customer growth early on, but that growth will come with a low ceiling if you don’t invest in a product that delivers impact. Always start with first principles: what are you trying to do for people. Build that and when you’ve reached success, grow.
Where do you see the company going now over the near term?
We’re excited to scale access to high-quality mental health care across the country!
What’s your favorite outdoor dining restaurant in NYC?
Song e Napule.
