Backpack Healthcare Raises $14M in Series A Funding

This article originally appeared on FinSMEs.

Backpack Healthcare (formerly Youme Healthcare), an Elkridge, MD-based online pediatric mental healthcare provider, raised $14M in Series A funding.

The round was led by PACE Healthcare Capital with participation from ECMC, Techstars, Collab Capital, Bridge Builders Collaborative, Portland Seed Fund, Hopelab, Rethink Education, Genius Guild, and Unlikely Collaborators, along with angel investors including Maya Ghosn Bichara and Jeffrey Walker.

In addition to this funding round, Robert Johnson, ESQ, Chief Equity Officer at Bezos Academy, is joining Backpack Healthcare’s Board of advisors, bringing his experience as the former Chief Economic Inclusion Officer and General Counsel for YWCA Metropolitan Chicago, alongside corporate experience at McDonald’s Corporation. His leadership will be instrumental in guiding Backpack Healthcare’s initiatives towards greater inclusivity and equity.

The company intends to use the funds to enhance its technology platform, expand its reach to more communities, and further develop its teletherapy services.

Led by Founder and CEO Hafeezah Muhammad, Backpack Healthcare develops an AI-powered app that uses advanced algorithms to monitor user emotions to match them with specialized therapists for tailored treatment plans. It provides an engaging experience through interactive tools and activities that make therapy enjoyable, encouraging active participation. Additionally, Backpack Healthcare provides individual pediatric and family therapy and medication management through telemedicine, and also offers live parent training sessions on topics such as cyberbullying and substance abuse.

Commenting on the news, Hafeezah Muhammad said: “This milestone will help us deliver on our commitment to breaking down barriers and ensuring equitable access to mental health support for all children, regardless of their socioeconomic status.”