JUNE 22ND, 2023; SAN FRANCISCO: Pier 88 Ventures Enterprise Software Strategy has led a $3.9mm Series A financing in TPN.health (“TPN”), a leader in the digitization of the behavioral health industry. This marks the first investment made out of the Pier 88 Ventures Enterprise Software strategy. Accomplice and Paterson Partners were also key investor participants in this financing round.
Headquartered in New Orleans and founded in 2019 by CEO Trevor Colhoun and Christopher O’Shea, TPN.health is a nationwide professional engagement platform with a mission to improve behavioral health outcomes by providing a digital infrastructure that connects and serves professionals, creates transparency, drives down costs, optimizes patient referrals, and generates valuable data for everyone in the ecosystem.
TPN recognized that patient outcomes could be significantly improved by utilizing technology to enable better clinically managed matched care. Today, TPN is the fastest growing behavioral health network in the country, linking behavioral health professionals, treatment centers, hospitals, and employee wellness programs. TPN is truly a mission-first company, and every product and service offering is linked back to improving behavioral health outcomes.
Pier 88 Investment Partners (“Pier 88”) sees significant potential growth opportunities at TPN as the company extends its platform to other states and regions and expands relationships with the key insurance players in behavioral health. Pier 88 believes a significant opportunity also exists with hospital networks across the country, the next area of expansion for TPN.
“We are very happy to have Pier 88 as a strong strategic partner,” said Trevor Colhoun, CEO of TPN.health. “Their experience and resources will allow us to capitalize on the rapidly growing adoption of technology and communications in the behavioral health industry, bringing lasting improvements in patient outcomes.”
TPN plans to use the proceeds of the financing round to further enhance and develop the company’s products and expand the company’s go-to-market strategies. Pier 88 is excited to partner with TPN and help the company achieve its goal of improving behavioral health outcomes.
About Pier 88 Investment Partners
Pier 88 Investment Partners, a San Francisco and Silicon Valley based asset manager, was founded in 2013 and invests client capital in both public and private disruptive innovation companies. While opportunistic, Pier 88 Ventures focuses on tech and tech-enabled companies across the enterprise software, cyber security, healthcare, fintech and property tech sectors.
Pier 88 Ventures is led by a management team with over 100 years of collective investing experience and is recognized for its successful track records in both the public and private markets. For more information, please visit www.pier88.com.
The companies identified do not represent all of the companies purchased, sold or recommended for portfolios advised by Pier 88 Investment Partners, LLC. The reader should not assume that investment in any company was or will be profitable. Additional information including a list of all companies is available upon request.