What are the top edge AI startups by total funding raised?

Top startups in the Edge AI market ranked by total funding raised

Here is an updated table that ranks the top startups in the Edge AI market based on the total amount of funding they have raised to date.

The table also includes the total number of funding rounds, the date and size of the latest round, the financing type (e.g. Series A, equity financing), key investors, the startup’s current status (active, IPO, acquired, or shut down), and a confidence score based on the data collected (we excluded startups with very low data confidence, to make sure everything is reliable).

If you need to dig deeper and get more detailed data, please check our report covering the Edge AI market.

Which mental health startups have raised the most money?

Lyra Health currently leads our mental health startup funding ranking with about $890 million raised, although Atai Beckley and Compass Pathways are now remarkably close behind.

Our reconstructed totals put Atai Life Sciences/Atai Beckley at roughly $840 million and Compass Pathways at about $826 million. MindMed follows at approximately $607 million, then Cerebral at $487 million and Spring Health at $467 million.

After that, Cybin, Talkspace and Neuronetics have each raised a little more than $400 million. Grow Therapy and Headway sit almost level at about $328 million and $327 million respectively.

Taken together, the top 20 companies in our dataset have raised approximately $7.9 billion. The first ten account for around $5.7 billion of that amount, so most of the capital at the top of this market sits with a fairly small group.

There is also an important split hidden inside the ranking. Lyra, Spring, Grow and Headway built healthcare platforms and provider networks. Atai Beckley, Compass, MindMed and Cybin are developing drugs. Neuronetics sells medical technology. Talkspace, meanwhile, has now been acquired by Universal Health Services.

Rank	Company	Approx. cumulative equity funding	Current status
1	Lyra Health	$890M	Private
2	Atai Life Sciences / Atai Beckley	$840M	Public
3	Compass Pathways	$826M	Public
4	MindMed	$607M	Public
5	Cerebral	$487M	Private
6	Spring Health	$467M	Private
7	Cybin	$419M	Public
8	Talkspace	$409M	Acquired
9	Neuronetics	$408M	Public
10	Grow Therapy	$328M+	Private

How concentrated is mental health startup funding?

Mental health startup funding is highly concentrated: the five largest companies in our ranking account for roughly 46% of all the money raised by the top 20.

Those five companies - Lyra Health, Atai Beckley, Compass Pathways, MindMed and Cerebral - represent about $3.65 billion between them. Expand the group to the top ten and the figure reaches approximately $5.68 billion, around 72% of the top-20 total.

The same pattern is showing up across digital health. Rock Health counted $14.2 billion invested in U.S. digital health startups during 2025, up 35% from the previous year, even though the number of deals fell from 509 to 482. The average deal consequently jumped from $20.7 million to $29.3 million.

Large rounds drove much of that increase. Financings above $100 million represented 42% of all digital-health funding in 2025, the highest proportion since 2021.

The concentration has continued lately. Rock Health counted another $4 billion across 110 deals in the first quarter of 2026 and found that only 12 companies captured an unusually large portion of that capital.

Mental health fits the broader market: plenty of money is available, but much of it is going to a relatively short list of companies.

Is Lyra Health still the most funded mental health startup?

Yes. Lyra Health remains the most funded mental health company in our ranking at roughly $890 million, although its lead has become much smaller.

Lyra's last giant financing came back in 2022, when Dragoneer led a $235 million round joined by Salesforce Ventures and existing investor Coatue. Lyra said the money would help fund international expansion, and it announced the acquisition of employee-assistance provider ICAS alongside the financing.

What is unusual today is that Lyra can still lead the ranking despite several years without another huge round.

Atai Beckley is now only around $50 million behind, while Compass Pathways is roughly $64 million behind. Both can continue adding substantial amounts through public-market transactions, something Lyra cannot do while remaining private.

Lyra still holds first place, but the gap no longer looks comfortable. Another major public financing from one of the biotech companies near the top could change the ranking quickly.

Why have Atai Beckley, Compass Pathways and MindMed raised so much money?

Atai Beckley, Compass Pathways and MindMed have raised such enormous amounts because developing psychiatric drugs through late-stage clinical trials requires far more capital than building a typical mental health software company.

Together, the three companies account for roughly $2.27 billion of cumulative financing in our ranking.

Compass gives us a good idea of how quickly these totals can grow. The company received about $200 million from warrant exercises in early 2026, shortly after completing another public offering that generated roughly $141 million in net proceeds. Compass said the money would fund its Phase 3 COMP360 program, PTSD development work and preparations for a possible commercial launch.

MindMed raised another $225 million through a public offering in late 2025.

Atai also became a much larger organization after completing its combination with Beckley Psytech. The resulting company, Atai Beckley, now owns a broader pipeline of experimental psychiatric treatments.

These companies can burn through hundreds of millions before commercial sales even begin. Clinical trials, manufacturing, regulatory work and launch preparation make psychiatric biotech one of the most capital-intensive parts of the mental health market.

Does including public companies make this mental health funding ranking misleading?

Including public companies changes the meaning of the mental health funding ranking quite a lot, although those public financings are still real equity capital raised by the companies.

Atai Beckley, Compass Pathways, MindMed, Cybin, Neuronetics and Bright Minds Biosciences all sit within our top 20. Together, those six represent roughly $3.3 billion of cumulative financing.

A listed biotech can repeatedly issue new shares, exercise warrants or complete registered direct offerings. A private company such as Headway or Grow Therapy generally adds to its total only when it completes another venture or growth-equity round.

Cybin, for example, raised about $175 million through a registered direct offering in late 2025. MindMed raised $225 million through a public offering. Bright Minds Biosciences added another $175 million in early 2026.

Someone searching for the "most funded mental health startups" will probably want those companies included. But comparing their totals directly with private venture-backed platforms requires some care: the fundraising mechanisms and capital needs are very different.

Which private mental health companies have raised the most funding?

Among private mental healthcare companies, Lyra Health is still far ahead on cumulative funding, followed by Cerebral and Spring Health.

Lyra has raised roughly $890 million, almost twice Spring Health's approximately $467 million. Cerebral sits between them at about $487 million.

The next group is getting more interesting. Grow Therapy has reached approximately $328 million after its latest round, while Headway has raised around $327 million. Cortica is above $255 million, and Brightline has accumulated roughly $212 million.

Historical totals do not tell us who is raising fastest right now. Lyra's last $235 million round happened in 2022. Grow Therapy, by contrast, added $150 million in 2026. Spring and Headway each completed $100 million rounds in 2024.

That gap between cumulative size and recent fundraising momentum is becoming important near the top of the private-company ranking.

Company	Approx. cumulative funding	Latest major disclosed round
Lyra Health	$890M	$235M
Cerebral	$487M	$25M
Spring Health	$467M	$100M
Grow Therapy	$328M+	$150M
Headway	$327M	$100M
Cortica	$255M+	$80M
Brightline	$212M	$10M extension
SonderMind	$183M	$150M

Is Grow Therapy becoming one of the biggest mental health startups?

Yes. Grow Therapy has moved firmly into the top tier of private mental health startups after raising a $150 million Series D.

The round was led by TCV and Growth Equity at Goldman Sachs Alternatives, with BCI and Menlo Ventures joining existing investors including Sequoia, SignalFire and Transformation Capital.

That financing takes Grow's cumulative funding to roughly $328 million in our reconstruction, almost exactly level with Headway.

Grow is also becoming broader than the therapist marketplace it started as. The company now describes its platform around partnerships with health insurers, employers and health systems, with the aim of connecting those organizations to a large network of mental health providers.

The size of the Series D is notable in the current funding environment. Grow secured a nine-figure private round at a time when capital across digital health is becoming increasingly concentrated among a smaller number of companies.

For now, Grow belongs in the same funding conversation as Headway rather than in the group of smaller therapy marketplaces below them.

Is Spring Health catching Lyra Health?

Spring Health is still far behind Lyra Health in cumulative funding, but funding alone increasingly understates how close the two companies have become strategically.

Lyra has raised approximately $890 million against Spring's roughly $467 million. That is a huge gap.

Spring's recent development has come from a different direction. Its $100 million Series E valued the company at $3.3 billion, up from a reported $2.5 billion valuation in the previous round. At the time of the Series E, Spring said it covered more than 10 million lives.

By early 2026, Spring was reporting more than 50 million covered lives through employers and health plans. It then bought Alma, giving the company access to a much larger network of independent clinicians and payer relationships.

Once that combination closed, Spring said its broader ecosystem could reach more than 170 million lives.

Lyra remains much more heavily funded. Spring, however, has recently been using distribution and acquisitions to close parts of the competitive gap without needing to match Lyra dollar for dollar in fundraising.

Is Headway still one of the best-funded mental health platforms?

Yes. Headway remains one of the best-funded independent mental health platforms, with roughly $327 million raised and a $2.3 billion valuation at its latest round.

Headway raised $100 million in its Series D in 2024. The company said that valuation was 130% higher than in its previous financing.

The model helps explain why investors have been willing to fund it so aggressively. Headway makes it easier for independent mental health clinicians to accept insurance, manage administrative work and reach insured patients.

That puts the company in a particularly valuable part of the market. Therapists already exist, patients already want care and health insurers already spend money on mental health. Headway is trying to remove the administrative friction between those groups.

Alma pursued a similar strategy and eventually became attractive enough for Spring Health to acquire it.

With Alma no longer independent, Headway is currently one of the clearest standalone bets on insurance infrastructure for mental health providers.

Is Cerebral still one of the most funded mental health startups?

Yes. Cerebral remains one of the five most heavily funded mental health companies in our dataset, although most of that money belongs to an earlier fundraising era.

We reconstruct about $487 million of cumulative equity financing for Cerebral.

Its most recent identified financing was approximately $25 million in 2025, dramatically smaller than the rounds that pushed Cerebral to a multibillion-dollar valuation during the telehealth boom.

Cerebral is a good example of why cumulative rankings need context. A company can remain near the top for years because it raised enormous sums during an earlier market cycle, even while newer companies are raising larger rounds today.

Grow Therapy's latest $150 million financing was six times the size of Cerebral's recent $25 million round. Yet Cerebral still has roughly $159 million more cumulative funding.

Cerebral belongs near the top of a historical funding ranking, while its current fundraising pace tells a more modest story.

What are the biggest recent funding rounds in mental health?

The biggest recent mental health financings are now split between public neuropsychiatry companies raising huge amounts for clinical development and a smaller group of private healthcare platforms raising nine-figure growth rounds.

MindMed raised $225 million through an underwritten public offering. Compass Pathways received around $200 million through warrant exercises after another large public offering. Cybin completed a $175 million registered direct financing, while Bright Minds Biosciences raised $175 million through a public offering.

Among private companies, Grow Therapy's $150 million Series D stands out. Cognito Therapeutics raised another $105 million in a Series C to advance its Alzheimer's neurotechnology platform toward pivotal data and a possible regulatory submission.

Those numbers show where large checks are going these days. Investors are still willing to finance mental health aggressively, but nine-figure rounds tend to involve either substantial clinical-development risk or platforms that have already reached serious healthcare scale.

Company	Recent financing	Approx. amount	Business
MindMed	Public offering	$225M	Neuropsychiatric drugs
Compass Pathways	Warrant exercises	~$200M	Psilocybin therapeutics
Cybin	Registered direct offering	$175M	Neuropsychiatric drugs
Bright Minds Biosciences	Public offering	$175M	Brain-health biotech
Grow Therapy	Series D	$150M	Mental healthcare platform
Cognito Therapeutics	Series C	$105M	Neurotechnology
Spring Health	Series E	$100M	Mental health benefits
Headway	Series D	$100M	Provider/insurance platform

Are $100 million mental health funding rounds coming back?

Yes, nine-figure healthcare funding rounds are happening regularly again, although the money is flowing to fewer companies than during the 2021 boom.

The broader digital-health numbers make that fairly clear. According to Rock Health, 26 U.S. digital-health rounds exceeded $100 million in 2025, compared with 18 the previous year.

Those mega-rounds represented 42% of total funding, almost twice their share in 2024.

Mental health has produced its own examples. Grow Therapy raised $150 million. Cognito raised $105 million. Public companies including MindMed, Compass, Cybin and Bright Minds have recently secured even larger amounts.

The market has plenty of capacity for very large rounds.

What has disappeared is the idea that simply being a fast-growing digital-health company automatically gives a startup access to that capital. Investors are concentrating bigger checks around businesses they believe have already separated themselves from the rest of the field.

What types of mental health startups attract the most funding?

The largest pools of mental health capital currently go to three broad areas: regulated treatments, insurance-connected care platforms and businesses targeting expensive specialist populations.

Drug developers dominate several of the highest positions. Atai Beckley, Compass, MindMed and Cybin collectively represent roughly $2.7 billion in our dataset.

Provider and payer infrastructure is another major category. Lyra, Spring Health, Grow Therapy, Headway and Alma have collectively raised well over $2 billion.

Specialist clinical models are also becoming large funding targets. Cortica has raised more than $255 million around autism and neurodevelopmental care, while Cognito has reached approximately $233 million developing a device-based Alzheimer's treatment.

Simple online therapy access no longer explains where most of the biggest checks are going. Investors appear much more comfortable funding companies that control a harder part of healthcare: reimbursement, provider supply, clinical evidence, regulated intellectual property or specialist delivery infrastructure.

Who are the biggest investors in mental health startups?

Mental health startup funding comes from a surprisingly broad mix of venture firms, growth investors, healthcare specialists, pharmaceutical companies and strategic healthcare investors.

Dragoneer led Lyra Health's $235 million round, joined by Salesforce Ventures and Coatue. Generation Investment Management led Spring Health's $100 million Series E. TCV and Growth Equity at Goldman Sachs Alternatives led Grow Therapy's $150 million round.

Headway's investor group has included Spark Capital, Andreessen Horowitz and Accel. Thoma Bravo led Alma's $130 million Series D, with Cigna Ventures participating.

Biotech brings in another set of names. Cybin's $175 million registered direct offering included Venrock, OrbiMed, Deep Track Capital, Point72 and several other healthcare-focused investors.

Strategic healthcare money also appears repeatedly. Morgan Health co-led Cortica's $80 million round, while Boehringer Ingelheim made a $50 million strategic Series D investment in Click Therapeutics.

There is no single dominant mental health investor. The category has become broad enough to attract several completely different classes of capital.

Investor	Example company	Relevant financing
Dragoneer	Lyra Health	$235M
Generation Investment Management	Spring Health	$100M
TCV	Grow Therapy	$150M
Goldman Sachs Alternatives	Grow Therapy	$150M
Spark Capital	Headway	$100M
Thoma Bravo	Alma	$130M
Morgan Health	Cortica	$80M
Boehringer Ingelheim	Click Therapeutics	$50M

Why are investors putting so much money into mental health insurance networks?

Insurance-connected mental health platforms are attracting huge amounts of money because getting clinicians paid reliably has become nearly as important as finding the clinicians themselves.

Headway has raised about $327 million. Alma raised more than $220 million before Spring Health bought it. Grow Therapy has reached roughly $328 million.

All three help providers work with insurance in some form.

That common thread is more interesting than the differences between their products. Independent therapists often face credentialing, billing and administrative problems when they try to join insurer networks. Patients meanwhile want therapists covered by their health plans rather than paying the full price themselves.

A platform that simplifies those transactions can become useful to clinicians, patients and insurers at the same time.

The large funding totals suggest investors increasingly see this infrastructure as a better moat than simply offering another interface for booking a video therapy session.

Why did Spring Health buy Alma?

Spring Health bought Alma because combining employer distribution with a large insured-provider network gives Spring a much broader place in the mental healthcare system.

Before the acquisition, Alma had built a network centered on helping independent mental health professionals accept insurance and operate their practices. Its $130 million Series D had already taken cumulative funding above $220 million.

Spring approached the market from another direction, selling mental health benefits to employers and health plans.

The combination brings those two sides together. When Spring announced the deal, it said Alma's provider infrastructure and payer relationships would complement Spring's technology and specialty-care capabilities. After closing, Spring reported an ecosystem reaching more than 170 million lives.

Spring could have kept growing its own network internally. Buying Alma gave it years of provider relationships and insurance infrastructure at once.

The acquisition makes more sense as a distribution move than as a simple attempt to buy another therapy company.

What does the Talkspace acquisition say about the mental health market?

Talkspace's $835 million acquisition by Universal Health Services shows that large traditional healthcare companies now see scaled virtual mental health networks as useful infrastructure rather than standalone apps.

UHS completed the acquisition recently after agreeing to pay $5.25 per Talkspace share.

The business UHS acquired had become much broader than consumer online therapy. Talkspace generated approximately $229 million of revenue in 2025, delivered more than 1.6 million therapy and psychiatry sessions and operated a network of roughly 6,000 licensed professionals.

Its services were also available to more than 200 million people through health plans, employers, schools and government organizations.

UHS already operates behavioral health hospitals, acute-care hospitals and outpatient facilities. Adding Talkspace gives the group a virtual channel that can sit alongside those physical services.

The deal says more about healthcare integration than about teletherapy itself. Virtual mental health has become another route into a larger care system.

Did Akili prove that raising lots of money does not mean a mental health startup will win?

Yes. Akili is one of the clearest examples in this ranking of a company raising hundreds of millions of dollars without producing an equally strong commercial outcome.

Our dataset puts Akili's cumulative financing at approximately $270 million.

The company went public through a SPAC and became one of the best-known names in prescription digital therapeutics. Its products were unusual enough to help establish the idea that software and game-like experiences could be regulated as medical treatments.

Commercial adoption proved much harder.

Virtual Therapeutics eventually agreed to acquire Akili for $0.434 per share in 2024, after Akili had begun reviewing strategic alternatives. Akili then became a wholly owned subsidiary of the privately held buyer.

The contrast is hard to miss. Akili attracted a quarter-billion dollars of financing and reached the public market, yet its eventual outcome was much less impressive than its fundraising history suggested.

Funding measures investor conviction at different points in time. It does not measure the return those investors ultimately receive.

Are digital therapeutics still getting funded after Akili's problems?

Yes. Digital therapeutics can still raise serious money, but current investors appear to want stronger clinical evidence and clearer commercial partners.

Click Therapeutics is probably the best example.

Boehringer Ingelheim recently made a $50 million Series D strategic investment in Click while also providing commercial funding connected to CT-155, an investigational prescription digital therapeutic for negative symptoms of schizophrenia.

Click already has experience getting regulated software through the FDA. Its CT-132 migraine product received marketing authorization, while Rejoyn, developed with Otsuka, became the first prescription digital therapeutic authorized as an adjunctive treatment for major depressive disorder symptoms.

That trajectory looks quite different from the earlier digital-therapeutics model in which a startup tried to prove the product, secure reimbursement and build commercialization almost entirely on its own.

The category still has money behind it. These days, however, a credible pharmaceutical partner, regulatory evidence and a clear route into clinical practice carry much more weight.

Why are autism and neurodevelopmental mental health startups raising so much money?

Autism and neurodevelopmental care startups are raising large rounds because these companies are tackling expensive, specialist care where families, insurers and providers already face severe capacity problems.

Cortica is the largest example in our ranking, with more than $255 million raised.

Morgan Health and Nexus NeuroTech Ventures co-led Cortica's $80 million financing in 2024. The company combines behavioral treatment with services such as neurology, speech therapy and occupational therapy rather than treating autism care as a single-service problem.

Several smaller companies point in the same direction. Forta raised $55 million for an AI-enabled autism therapy model. AnswersNow has raised about $53 million around virtual ABA therapy. SpectrumAi has raised roughly $29 million to build autism-care data and analytics.

Brightline, with approximately $212 million of funding, extends the same idea into broader pediatric behavioral health.

Specialization can make these businesses operationally difficult, but it also gives investors something more defensible than another general-purpose therapy marketplace.

Are acquisitions becoming as important as funding rounds in mental health?

Yes. Acquisitions are now reshaping the mental health startup landscape almost as much as new funding rounds.

Talkspace is part of Universal Health Services. Alma is part of Spring Health. Akili became a subsidiary of Virtual Therapeutics. Beckley Psytech was absorbed into Atai, creating Atai Beckley.

These transactions happened for very different reasons. Talkspace brought UHS a large virtual-care network. Spring wanted Alma's clinicians and payer infrastructure. Atai combined drug-development pipelines. Akili's sale followed a much tougher commercial journey.

The pattern also fits the broader digital-health market. Rock Health recorded a 61% increase in U.S. digital-health M&A volume during 2025.

As seen above, some companies that remain high in a cumulative funding table are therefore no longer independent competitors.

That distinction matters more as the sector matures. A funding leaderboard preserves the financing history of companies, while the competitive market keeps consolidating around fewer owners.

Does raising more money actually make a mental health startup stronger?

No. Mental health funding totals are useful for measuring how much capital investors have committed, but they tell us surprisingly little about who ultimately builds the strongest company.

Akili raised around $270 million and still ended up being sold after a difficult period as a public company.

Cerebral remains one of the five most funded companies in our dataset even though its recent fundraising has been far smaller than the rounds that created most of that total.

Grow Therapy presents the opposite picture. Its cumulative total remains below Cerebral's, yet its fresh $150 million Series D suggests investors currently have much stronger appetite for its model.

Talkspace offers another useful reference point. The company raised about $409 million according to our reconstruction and eventually built a business generating approximately $229 million in annual revenue before UHS bought it for around $835 million.

Cumulative funding answers one specific question: how much equity capital has entered the company over time. Revenue, margins, clinical progress, market share and exit value answer very different questions.

So what does the mental health startup funding ranking really tell us?

The mental health funding ranking shows a market with plenty of capital today, but that capital is increasingly concentrated around companies that control something difficult to replicate.

The top 20 companies in our dataset have raised roughly $7.9 billion. Around 46% sits with the first five, while approximately 72% sits with the first ten.

Lyra Health remains the cumulative leader. Public drug developers such as Atai Beckley, Compass and MindMed have moved unusually close because clinical development keeps requiring enormous amounts of new equity. Among private healthcare platforms, Grow Therapy and Headway have joined Spring Health in the group capable of attracting very large rounds.

At the same time, the market itself is getting smaller in terms of independent players. Talkspace has been bought by UHS. Spring has absorbed Alma. Akili was acquired. Beckley Psytech now sits inside Atai Beckley.

The direction is fairly clear. Investors are currently putting the largest sums behind psychiatric drugs, insurer-connected provider networks, specialist clinical care and technologies with regulatory or clinical barriers to entry.

Simply putting therapy online is no longer enough to stand out.

The best-funded mental health companies now tend to own at least one scarce asset: a large provider network, payer relationships, employer distribution, clinical evidence, regulated technology or valuable intellectual property.