After announcing a additional increase of $10 million in July, raising its total Series C funding to $115 million, pediatric virtual behavioral health startup bright line is laying off 20% of its workforce.
The Brightline layoffs were first reported by behavioral health business. Cuts were made in all areas of the company.
“We identified several areas to realign our strategic priorities and made the difficult decision to lay off talented team members across 20% of our workforce. We approach these decisions by focusing on the capabilities we need to best serve our members today and our future goals.” serving more families in the future,” said Brightline MobiHealthNews in an email.
THE BIGGEST TREND
Brightline’s Series C extension announcement in July was made by New York-based Northwell Health. The strategic investment and partnership was to allow the startup to coordinate partners for specialty care, expand services for teens, add interactive content, and increase benefits for company employees.
In March, Brightline announced that it had received a huge $105 million in financing, raising its valuation to $705 million. He also recently released a virtual training program aimed at parents and caregivers of children at risk or diagnosed with autism spectrum disorder.
That increase came less than a year after Brightline announced it brought $72 million in Series B funding.
