# SilverCloud Health

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/silvercloud-health

- Industry: Healthcare IT
- Headquarters: Boston, US
- Website: www.silvercloudhealth.com
- Total disclosed funding: $24M
- Latest round: Series B (Mar 31, 2020)
- Investors on record: 9

## About

SilverCloud Health Limited, based in the US, specializes in innovative digital mental health solutions, providing interactive platforms tailored to enhance the mental wellbeing of individuals from various backgrounds.Founded in 2012 and headquartered in Boston, US, SilverCloud Health Limited focuses on delivering digital mental health services. The company has undergone strategic pivots to enhance its offerings and has completed a total of 7 deals. In its latest funding round, the Series B, SilverCloud raised USD 16.00 mn, led by MemorialCare Innovation Fund alongside investors including ACT Venture Capital, B Capital Group, LRVHealth, OSF Ventures, and UnityPoint Health Ventures. The company is helmed by CEO Ken Cahill, while it was founded by Karen Tierney.SilverCloud® by Amwell provides a comprehensive suite of digital mental health solutions designed to improve mental wellbeing across diverse demographics. Its core offerings include clinically validated interactive platforms that address mental health issues such as anxiety, depression, and substance use. The platform is utilized by clients including the NHS, HSE, corporate employers, and educational institutions. Accessible via mobile, tablet, and computer devices, SilverCloud® operates primarily in the UK and Ireland, while extending its services to markets like the United States, Australia, and South Africa.SilverCloud® by Amwell's revenue model is based on partnerships and subscription access to its digital mental health solutions. Clients, including healthcare organizations and corporate employers, enter agreements providing access to its platforms for their members or employees. These agreements typically involve annual licensing fees or subscription arrangements, allowing for scalable access to customized mental health programs, which may include family programs and wellness initiatives, thus ensuring a steady revenue stream.SilverCloud Health Limited is focused on expanding its product offerings and market reach. Plans are underway to develop new features and enhancements within its existing solutions, with the aim of launching additional products by the end of the year. The company is also targeting expansion into regions including Australia and South Africa, with specific plans to establish a more significant presence in these markets. Recent funding from new investor Outcomes Collective will support these initiatives by enhancing product development and marketing efforts.

## Funding rounds

- Series B, Mar 31, 2020, $16M — ACT Venture Capital, LRVHealth, MemorialCare Innovation Fund, B Capital, OSF Ventures, UnityPoint Health Ventures
- Series A, Jan 18, 2017, $8.1M — ACT Venture Capital, Investec Ventures, Enterprise Ireland, NDRC, B Capital

## Investors

- ACT Venture Capital (https://capitalatlas.ai/funds/act-venture-capital) — Series A, Series B
- Investec Ventures (https://capitalatlas.ai/funds/investec-ventures) — Series A
- Enterprise Ireland (https://capitalatlas.ai/funds/enterprise-ireland) — Series A
- NDRC — Series A
- B Capital (https://capitalatlas.ai/funds/b-capital) — Series A, Series B
- LRVHealth (https://capitalatlas.ai/funds/lrvhealth) — Series B
- MemorialCare Innovation Fund (https://capitalatlas.ai/funds/memorialcare-innovation-fund) — Series B
- OSF Ventures (https://capitalatlas.ai/funds/osf-ventures) — Series B
- UnityPoint Health Ventures (https://capitalatlas.ai/funds/unitypoint-health-ventures) — Series B