What is Monument?
Monument operates at the intersection of medical and mental health services, offering a streamlined platform for video appointments with therapists and doctors. By providing care at an affordable rate of $25 per session and integrating seamlessly with health insurance plans, the company addresses critical barriers to entry in the behavioral health sector. The platform facilitates long-term patient-provider relationships, enabling users to manage prescriptions and recurring care plans with ease. This integrated approach to digital health allows Monument to capture significant market share by prioritizing patient outcomes and operational efficiency in a rapidly digitizing healthcare environment.
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 Red Sea Ventures, Collaborative Fund, NextView Ventures, Corigin Ventures, Lerer Hippeau, and DP Cap Acquisition Corp I
Series A (2021): $10.3M led by VMG Catalyst
Key Investors in Monument
Red Sea Ventures
A New York City-based venture capital firm that invests in early-stage technology companies, focusing on consumer health and next-generation commerce.
Collaborative Fund
A prominent investment firm managing over $500 million, dedicated to supporting entrepreneurs who are building companies that push the world forward.
Lerer Hippeau
A venture capital firm specializing in early-stage investments, leveraging the expertise of former operators to support founders in redefining industry categories.
What's next for Monument?
With the infusion of capital from its recent Series A round, Monument is poised to deepen its technological infrastructure and expand its provider network. The strategic focus will likely shift toward enhancing user retention through personalized care pathways and scaling its B2C and B2B service offerings. As the company matures, it will leverage its existing partnerships with venture capital firms to navigate the complexities of the healthcare regulatory environment while maintaining its commitment to affordable, high-quality virtual care. Future growth will be defined by the company's ability to maintain its competitive pricing model while achieving the operational scale necessary to lead the telehealth industry.
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