What is Monument?
Monument operates as a comprehensive telehealth platform that bridges the gap between medical care and mental health support. By offering video appointments with licensed therapists and doctors at a flat, affordable rate, the company addresses critical barriers to entry in the healthcare market. The platform is designed to facilitate long-term relationships between patients and providers, allowing for personalized care plans that include prescription management and recurring consultations. By accepting most health insurance plans, Monument effectively lowers the financial threshold for patients seeking consistent, high-quality care, thereby carving out a significant niche in the rapidly evolving digital health ecosystem.
How much funding has Monument raised?
Monument has raised a total of $17.8M across 2 funding rounds:
Angel/Seed
$7.5M
Series A
$10.3M
Angel/Seed (2020): $7.5M with participation from Lerer Hippeau, Red Sea Ventures, NextView Ventures, DP Cap Acquisition Corp I, Corigin Ventures, and Collaborative Fund
Series A (2021): $10.3M led by VMG Catalyst
Key Investors in Monument
Lerer Hippeau
Lerer Hippeau is a venture capital firm focused on investing in innovative startups, particularly in the early stages such as Seed and Pre-Seed rounds. They aim to support founders with great ideas who are willing to tackle challenging problems, fostering long-term success through their expertise as former operators.
Red Sea Ventures
Red Sea Ventures is a New York City-based venture capital fund that invests in early-stage technology-enabled companies aimed at transforming industries and enhancing consumer experiences. The firm focuses on startups in sectors such as next-generation commerce, the future of work, and consumer health.
Collaborative Fund
With over $500 million in assets under management, Collaborative Fund is a leading source of capital and strategic support for entrepreneurs pushing the world forward. They focus on companies that create positive societal impact through innovative business models.
What's next for Monument?
With the recent influx of capital, Monument is well-positioned to enter a new phase of enterprise-level scaling. The strategic focus will likely shift toward expanding its provider network, enhancing the platform's proprietary scheduling and care management software, and deepening its integration with existing health insurance ecosystems. As the demand for virtual care continues to rise, Monument's ability to maintain a high standard of patient outcomes while managing operational efficiency will be paramount. The company is expected to leverage this financial runway to further refine its service offerings, potentially exploring new therapeutic modalities and expanding its reach to underserved populations, thereby reinforcing its status as a leader in the future of integrated healthcare delivery.
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