VIPC’s Virginia Venture Partners invests in Canopie to provide mental health resources to new… | Nation/World

Richmond, Virginia, July 06 12, 2022 (GLOBE NEWSWIRE) — Virginia Venture Partners, the equity investment program of Virginia Innovation Partnership Corporation ( VIPC ), today announced an investment in Canopie. Canopie, based in Falls Church, Va., is an app that uses clinically validated techniques and automated, personalized coaching to prevent and treat depression and anxiety in new mothers and pregnant women. Canopie will use this investment to secure early customers in healthcare delivery to validate product readiness for scale.

One of the major complications of pregnancy and childbirth is mental health, and current treatment is expensive and inconvenient. Often, the severity of poor mental health after childbirth leads to inflated costs for payers and poor outcomes for patients in hospitals and clinics.

Canopie is a mobile app designed to improve mental health care outcomes by addressing key barriers to treatment including scheduling, time, stigma and cost. After downloading the Canopie application, users answer a series of questions that allow them to create a personalized program adapted to each person’s needs. Users can then access their personalized program on the app at a time and place that suits them best, at a fraction of the cost of other treatment options.

“Mental health care should be as routine as taking a prenatal vitamin and every mother deserves to have accessible tools to help manage the inevitable ups and downs that come with motherhood,” said CEO Anne Wanlund. . “The Canopie app is built on evidence-based techniques and offers a way to bridge the huge care gap and help parents navigate the challenges that come with becoming a new parent. We thank VIPC’s Virginia Venture Partners for their investment in helping us continue to grow and provide care for new and expectant mothers.

Through different features of the Canopie app, women have access to 12-day programs with audio sessions of less than 12 minutes per day featuring real stories from other women to help reduce stigma around healthcare mental and mood monitoring to track their progress. And this program works, because a 2021 Canopie study found that 79% of program users with symptoms of depression experienced a clinically significant change in their mood.

Canopie’s primary customers are health plans, integrated delivery networks and self-insured employers. There are two product lines, a prevention/treatment program for expectant mothers and one for new mothers. Within these product lines, several services are available:

1. HIPAA Compliant Depression Screenings That Can Be Reimbursed Through Existing CMS Codes

2. Cost-effective, personalized treatment offered at a fraction of the cost of face-to-face therapy

3. Referral pathways for mothers who need additional support from mental health providers

“Canopie, which is led by a team of compassionate healthcare professionals, is dedicated to breaking down barriers to treatment and creating a platform for affordable maternal mental health care,” says Tom Weithman, Chief Investment Officer of VIPC and Managing Director of Virginia Corporate Partners. “Canopie relies on unique research and public health expertise to develop this one-of-a-kind solution. We are delighted to contribute to their success and strengthen the impact they have on maternal mental health.

About Canopy

Canopie is committed to spreading the word, changing the public narrative and informing mental health policy. Canopie’s mission is to remove common barriers to mental health care and provide support to all pregnant women and new mothers to prevent and treat common mental health issues. Canopie’s proven program combines evidence-based approaches tailored to the experiences of new moms and delivered through a convenient digital platform. The Canopie program is based on randomized controlled trials, as well as interpersonal therapeutic techniques developed by clinical psychologists and physicians.

About Virginia Venture Partners

Virginia Venture Partners, formerly CIT GAP Funds, is VIPC’s equity investment program that makes seed equity investments in Virginia-based companies in technology, clean energy and life sciences. life, with strong potential for rapid growth and generation of significant economic return. for entrepreneurs, co-investors and the Commonwealth of Virginia. Since its inception in 2005, Virginia Venture Partners has deployed $32.4 million of capital in more than 250 portfolio companies, including 17 companies in designated Opportunity Zones. Virginia Venture Partners’ investment decisions are guided by the Virginia Venture Partners Investment Advisory Board (IAB). This independent third-party panel drew on the expertise of leading regional entrepreneurs, angel and strategic investors, and venture capital firms such as New Enterprise Associates, Grotech Ventures, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Health Systems, Johnson & Johnson, General Electric and Alpha Natural Resources. For more information, please visit www.virginiaipc.org/vvp.

About Virginia Innovation Partnership Corporation (VIPC)

Connecting Innovators to Opportunities. The not-for-profit operations arm of the Virginia Innovation Partnership Authority (VIPA), VIPC is the economic development engine for commercialization and seeding in the Commonwealth that directs funding, infrastructure, and policy initiatives to support Virginia’s innovators, entrepreneurs, startups, and market development strategies. VIPC works with local, regional, state and federal partners to support the expansion and diversification of Virginia’s economy.

Programs include: Virginia Venture Partners (VVP) | Virginia Founders Fund (VFF) | Commonwealth Marketing Fund (CCF) | Smart Communities | Unmanned Systems | Entrepreneurial ecosystems | Regional Innovation Fund (RIF) | Federal Funding Assistance Program (FFAP) for SBIR & STTR | University partnerships | Mentoring and engagement of start-up companies. For more information, please visit www.VirginiaIPC.org. Follow VIPC on Twitter, LinkedIn and Facebook.

Attachments

Angela Costello, Vice President of Communications and Marketing Virginia Innovation Partnership Corporation (VIPC) 7578706848 [email protected]