Jim Stoneham

Unveiling the playbook for a business-in-a-box startup that’s raised $178 million from @SignalFire, @sequoia, @transformcptl, and others. We talked with Jake Cooper, the CEO of @GrowTherapy_, which provides turnkey solutions to more than 12,000 therapists. Independent therapists who want to focus on helping patients use Grow Therapy to set up just about everything else to run their business, including marketing, billing, in-network payer relationships, and more. 💡 The idea During the pandemic, Jake couldn’t find an in-network therapist, and his co-founder wanted to run an independent practice, but faced endless logistical hurdles. There had to be a better way. ❓ Is this a business? The number of Americans experiencing depression and anxiety tripled during the pandemic, but only 10% could afford out-of-network therapists, and finding a covered practitioner was a challenge. To test whether therapists wanted Grow’s services, they posted job ads and got 50 replies in the first day. They’d struck a nerve and quit their full-time jobs to start Grow. 💨 Execution After the successful ad, the founders quit their jobs and focused first on therapists—not patients or insurance companies—keeping their scope narrow. They included only behavioral health therapists, not specialists. They serviced only independent therapists, not group practices. They only operated in Florida at launch. Focused execution taking one step at a time. 🙌 Setting the foundation Jake said one of the best decisions they made was investing in technology to create their own electronic health record system, which made their services stand out and grow more easily. They created an AI-powered matching system to connect patients and therapists to solve the problem of how hard it can be to find a therapist in-network. 🚀 Want to build your own business-in-a-box startup? There’s an incredible opportunity to build and scale business-in-a-box platforms across other specialties! If you’re interested in learning more, check out this recording of the founder event I hosted with @waynejwhu and join our next Moxie event to hear more about Dan Friedman’s approach for powering medspas. Links in comments below 👇

Can't believe we're already halfway through 2024! It's been an exciting H1 for @SignalFire's #HealthTech portfolio as we announced our investments in @GrowTherapy_ & Praia Health alongside some of our favorite co-investors at @sequoia, @transformcptl, @TCVTech, Frist Cressey Ventures, and @providence with many more in stealth😉 In response to the overwhelming interest, @waynejwhu and I are excited to host Jake Cooper to unpack @GrowTherapy_'s MSO playbook on May 29 (Wed), 1pm PT 🚀 We'll unpack the following topics and many other questions submitted by aspiring #MSO founders: ​❓What are best practices for building business-in-a-box infrastructure in the healthcare industry? ❓Why is it an exciting time to be building MSO models? ​❓What are lessons learned from Grow Therapy's hyper scaling journey? Last call to register to join us virtually in the link below👇