Meru Health announced closing Series B funding round led by Industry Ventures, raises $38M in debt and equity.

Meru Health, a Helsinki, Finland and San Mateo, USA-based company operating an online platform that connects licensed therapists with patients, announced the completion of $38 million in financing added in the company.

The money, a combination of debt and equity with an undisclosed split, was raised from investors led by Industry Ventures, joined by include early backers Bold Capital Partners, Freestyle VC, FMZ Ventures and Leksell Social Ventures along with financing provided by J.P. Morgan.

The proceeds will be used to accelerate Meru Health’s U.S. nationwide expansion, broaden efforts to partner with healthcare payers and employers, and to expand access to a new coaching solution – intended to help people with early signs of depression, burnout or anxiety keep those symptoms from worsening.

Meru, founded in 2015 as Blooming by Kristian Ranta (CEO), Albert Nazander and Riku Lindholm, provides an online service that connects patients to licensed therapists for a 12 week program. The program includes digital therapeutic treatment provided remotely by clinicians, licensed therapists & psychiatrists. The company works with employers such as Stanford University and several Fortune 100 and 500 companies, EAPs such as Wellspring and healthcare payers such as Cigna, Humana and Moda Health to provide an online mental healthcare program that shows strong and lasting clinical outcomes.

Meru Health previously raised $8.1 million from Foundry Group, Bold Capital and Slack and was part of YC in 2018.