Notable local investors include Blue Cross Blue Shield of Minnesota, Matchstick Ventures, and more
Minneapolis-based online behavioral health startup Learn to Live just announced a $1 million fundraising haul from several high-profile investors, including Blue Cross Blue Shield of Minnesota, Minneapolis health startup incubator TreeHouse Health, Minneapolis venture fund Matchstick Ventures, and angel investor Daren Cotter, founder and CEO of Mendota Heights-based InboxDollars. Learn to Live is a TreeHouse Health portfolio company and uses workspace in TreeHouse’s Loring Park suite.
According to Learn to Live’s release, the company plans to invest the funds in its nascent technology platform and acquire new users for its “revolutionary, low-cost and highly effective self-help programs.”
Blue Cross Blue Shield led the fundraising effort and made the largest single contribution. “Blue Cross believes the work of the Learn to Live team closely aligns with our own mission of making a healthy difference in people's lives,” said vice president of business development John Uribe. “The self-directed nature of Learn to Live's technology platform offers a new approach for helping people address depression, social anxiety and like conditions.”
Founded in 2013 by Dale Cook and Dr. Russ Morfitt, Learn to Live first delivered content and services directly to individuals. The company expanded into institutional markets in early 2015, and now counts Minnesota universities, healthcare organizations and private employers as clients.
According to data provided by Learn to Live, individuals engage with the company’s content and services at six times the rate of comparable behavioral health providers. The industry’s engagement rates are frustratingly low, often below 5%. Learn to Live’s core value proposition, based on more than a decade of clinical research is that “Internet-delivered Cognitive Behavioral Therapy…is as effective as face-to-face therapy.”