About Impact Engine
Impact Engine is a venture capital and private equity firm that invests financial and human capital in early-stage companies.
- Chicago, Illinois, United States
- 11-50
- Micro VC, Venture Capital
- Convertible Note, Early Stage Venture, Seed, Venture
- www.theimpactengine.com
About Insight
InSight is the leading national telepsychiatry organization.
- Marlton, New Jersey, United States
- 501-1000
- Private
- insighttelepsychiatry.com/
About Regroup
Regroup provides telemental health and telepsychiatry services to health care entities and their patients.
- Chicago, Illinois, United States
- 11-50
- Series B
- Private
- regrouptelehealth.com
Our Investment in Insight+Regroup
In the United States, 51% of counties do not have a psychiatrist and 37% do not have a psychologist.
Meanwhile, ~20% of the U.S. population suffers from a mental health condition at any single time (Association of American Medical Colleges).
With similar rates of mental health illnesses and substance abuse across urban and rural populations, there is a need for mental health care nationwide.
Introducing Insight + Regroup
As a combined company, Insight+Regroup is the largest and most comprehensive telepsychiatry service provider in the U.S., connecting behavioral health providers to patients and eliminating barriers of geography by providing virtual telehealth services.
Insight+Regroup has the unique capability of providing services both on an on-demand basis for emergency cases or scheduled basis for more chronic issues.
The combined company serves over 250 different facilities across 35 states and employs a provider base with hundreds of clinicians including Psychiatrists, Psychologists, Licensed Clinical Social Workers, and Advance Practice Nurses.
Reason behind investment
In December 2019, we invested in InSight+Regroup at it represents a compelling opportunity to
(i) improve outcomes for patients with mental/behavioral health issues,
(ii) reduce the cost of care for patients with comorbidity (chronic disease + mental or behavioral health condition), and
(iii) decrease the negative effects of mental/behavioral health issues such as homelessness and violence.
Due to its breadth of telepsychiatry solutions, Insight+Regroup is well-positioned to capitalize on a large and growing market ($40bn global market size, with 25% CAGR since 2014) with favorable industry tailwinds due to rising mental health awareness, increasing government support, and advances in communications technology.
Impact
Research from the Association of American Medical Colleges concludes that “The United States is suffering from a dramatic shortage of psychiatrists and other mental health providers.
And the shortfall is particularly dire in rural regions, many urban neighborhoods, and community mental health centers that often treat the most severe mental illnesses”.
Insight+Regroup’s platform helps address the shortage and mental health professionals by offering access regardless of location.
As of 1H 2019, most of the combined company’s billable patient hours took place in provider shortage areas defined as correctional facilities, critical access hospitals, outpatient/behavioral clinics, and Native American organizations.
Conclusion
As Insight+Regroup continues to expand its reach and refine its services, we are optimistic about its potential to set new standards in mental health care provision, ensuring that no individual is denied the essential care they need due to geographic or economic barriers.
This investment aligns with our commitment to supporting innovative solutions that meet urgent healthcare needs and create meaningful, lasting impact.
You can read the rest of “Why we invested in” collection here:
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