Talkspace

Talkspace is an online and mobile therapy company based in New York City. It was founded by Oren and Roni Frank in 2012.[1] Talkspace users have access to licensed therapists through the website or mobile app on iOS and Android.[2][3]

Talkspace
Private
IndustryPsychotherapy
Founded2012
FoundersOren Frank
Roni Frank
HeadquartersNew York City, New York, U.S.
Area served
Worldwide
Key people
Oren Frank (CEO)
Dr. Irvin D. Yalom (Advisor)
ServicesOnline therapy
Unlimited Messaging Therapy
Websitewww.talkspace.com

History

Talkspace was founded in 2012 by Roni and Oren Frank.[4] The company was conceived after a transformative experience in couples therapy that saved their marriage.[5] The results of psychotherapy were so meaningful for Roni Frank that, wanting to share it with others, she chose to pursue a master's degree in psychoanalysis and psychotherapy.[6] Prior to cofounding Talkspace, Roni Frank worked as a software developer.[7]

Talkspace began as a group therapy platform, but has evolved to a company offering online psychotherapy from licensed therapists.[8] Talkspace introduced Unlimited Messaging Therapy in 2014, providing users text messaging with a therapist on the Talkspace website or mobile app.[9] Clients and therapists can also send audio and video messages on the platform or schedule live video sessions.[10][11]

In February 2015, the therapy platform was expanded to include couples therapy.[12] As of July 2016, real-time voice and video calls are available during therapy sessions.[13] Talkspace's Live Video programs are powered by Agora.io, a provider of HIPAA compliant video services.[14]

In addition to reporting on a nationwide uptick in demand for psychotherapy, Talkspace saw requests for therapy appointments triple in the wake of the 2016 presidential election, with increases seen across demographic groups, but were particularly high for minorities.[15] According to a study conducted in partnership with HealthMap researchers at Boston Children's Hospital, a quarter of Talkspace users polled reported feeling “very stressed.”[16] In 2018, Talkspace hired Neil Leibowitz, MD, JD, as its Chief Medical Officer.[17]

In January 2020, Talkspace partnered with USA Swimming to provide a new mental health service available at no cost to all National Team athletes, as well as 2016 Olympic swimmers.[18]

Talkspace saw a significant uptick in demand for psychotherapy during the COVID-19 pandemic, attributed to both the increased emotional toll of the pandemic and the restrictions put in place on people's physical movements.[19][20] The company offered a free month of online therapy services to medical workers during the pandemic.[21]

In May 2020, Cigna added Talkspace virtual therapy services to the company's telehealth offerings.[22]

In June 2020, Talkspace announced it would pull out of a six-figure content partnership agreement with Facebook after Facebook decided not to moderate Donald Trump's posts during the George Floyd protests.[23]

Funding

Talkspace has raised a total of $110 million in funding.[24] In May 2015, Talkspace raised $9.5 million from Spark Capital and SoftBank.[25] In June 2016, the company raised $15 million from Norwest Venture Partners.[26] In September 2017, the company raised $31 million from a Series C round led by Qumra Capital.[27] In August 2019, the company raised $50 million Series D funding and entered into a partnership with Optum.[28][29]

Product

Talkspace provides psychotherapy via smartphone, tablet, or desktop where anyone (over the age of 13) can get help from a licensed therapist without traveling to a brick and mortar office for care.[22][30] The app is available on iPhone and Android.[31] Based on initial information provided, clients are paired with a psychotherapist by an intake specialist or can select one from several suggested by a matching algorithm.[32] Therapeutic approaches offered by therapists include Cognitive Behavioral Therapy (CBT) and other evidence-based treatment options.[33] Talkspace has grown to include over 1.5 million clients.[34] The platform includes thousands therapists in all 50 states.[35] The company uses machine learning and artificial intelligence tools to analyze anonymized transcripts of therapy sessions in order to improve services.[36]

The platform works via texting where therapists respond once or twice per day, depending on the plan, and conversations are seamless across devices.[37] The platform uses banking-grade encryption to maintain client confidentiality and protect privacy.[38] The same privacy rules governing clients’ confidentiality and protection exist as in brick and mortar therapy.[39] All therapists are licensed and screening involves background-checks, technical training, and clinical interviews.[40]

Similar to brick and mortar therapy, clients work with their therapist in a structured environment to set goals and work through mental health and life challenges.[41] Goals are continually assessed and clients play an active role in their therapeutic journey by providing feedback to their therapist.[42]

Talkspace is a monthly subscriptions service with several tiered options for therapy and online counseling, all of which are significantly less expensive than equivalent in-person therapy.[19] It has been noted for serving individuals and providing increased access to those with mobility issues as well as those who are non-verbal,[43] and to those with young children.[44]

Talkspace is also HIPAA BAA compliant.[45]

See Also

References
  1. Furhlinger, Josh. All-You-Can-Text Therapy Services Wall Street Journal. Retrieved 30 March 2015.
  2. Brodwin, Erin. "I spent 7 amazing days with a therapist who only knew me via text message". Business Insider.
  3. Garun, Natt. "Talkspace now lets you send audio and video messages to your e-therapist". The Next Web.
  4. O'Brien, Sara Ashley (2015-05-12). "Text therapy startup raises $9.5 million". CNNMoney. Retrieved 2017-06-13.
  5. "Couples therapy — yeah, there's an app for that too". VentureBeat. 2015-02-12. Retrieved 2017-06-13.
  6. "Texting Your Therapist and Other Anonymous and Easy Ways to Get Help". pastemagazine.com. Retrieved 2017-06-13.
  7. Novellino, Teresa (May 13, 2015). "Talkspace raises $9.5M to let users text their therapists". New York Business Journal.
  8. "Adweek's Digital Hot List: 2017's Buzziest Apps, Gadgets, Startups and More". Retrieved 2017-06-28.
  9. Lawler, Ryan. "Unlimited Messaging Therapy Startup Talkspace Raises $2.5M From Spark Capital And Softbank | TechCrunch". Retrieved 2017-06-28.
  10. Crook, Jordan. "Talkspace Therapy-By-Text Service Launches Asynchronous Audio, Video Messaging | TechCrunch". Retrieved 2017-06-28.
  11. "The Pros and Cons of Using Online Therapy App 'Talkspace'".
  12. "Now You and That Special Someone Can Get Couples' Therapy Straight Through Your iPhone". Retrieved 2017-06-28.
  13. Lim, Jason. "Agora.io Is Poised To Dominate Real-Time Voice And Video Apps". Forbes. Retrieved 2017-06-28.
  14. Talkspace. "Talkspace Launches LiveTalk Online Therapy™, Bringing Real-Time Video And Voice Calls To Its Mobile App". www.prnewswire.com. Retrieved 2017-06-28.
  15. News, Jenny Gold, Kaiser Health. "'Post-election stress disorder' strikes on both sides". CNN. Retrieved 2017-07-25.
  16. "In the Therapist's Office, Trump Becomes a Hot Topic". Bloomberg.com. 2017-02-09. Retrieved 2017-07-25.
  17. Farr, Christina (2018-04-11). "Online therapy start-up Talkspace hires a chief medical officer from UnitedHealth". CNBC. Retrieved 2018-04-11.
  18. "USA SWIMMING INTRODUCES NEW NATIONAL TEAM MENTAL HEALTH PROGRAM IN PARTNERSHIP WITH TALKSPACE". www.usaswimming.org. Retrieved 2020-03-12.
  19. Rebecca Heilweil. "Feeling anxious about coronavirus? There's an app for that". Vox. Retrieved 22 July 2020.
  20. John D. Stoll. "s Tele-Counseling During Coronavirus Booms, a Therapist Seeks Respite". Wall Street Journal. Retrieved 22 July 2020.
  21. Samantha Brodsky. "Free Therapy and Mental Health Services You Can Access During the Coronavirus Outbreak". Pop Sugar. Retrieved 22 July 2020.
  22. Bruce Japsen. "Cigna Expands Mental Health Network With Talkspace's Virtual Therapy". Forbes. Retrieved 22 July 2020.
  23. Christina Farr. "Talkspace CEO says he's pulling out of six-figure deal with Facebook, won't support a platform that incites 'racism, violence and lies'". CNBC. Retrieved 22 July 2020.
  24. Lauren Debter. "Talkspace's Founder On Fighting The Stigma Around Mental Health To Raise $110 Million". Forbes. Retrieved 22 July 2020.
  25. Sara Ashley O'Brien. "Text therapy startup raises $9.5 million". CNN. Retrieved 22 July 2020.
  26. Brian Gormley. "Talkspace Collects $15M for Online Therapy Services". Wall Street Journal. Retrieved 22 July 2020.
  27. "Online therapy co Talkspace raises $31m".
  28. "Online Therapy Company TalkSpace Earns $50M, Enters in a Partnership with Optum". Tricity Daily. 2019-08-29. Retrieved 2019-09-06.
  29. "Talkspace Review". Online Therapy. Retrieved 2019-09-06.
  30. Brooke DiPalma. "How a 'cultural shift' is making way for a therapy tool promoted by Michael Phelps". Yahoo Finance. Retrieved 10 August 2020.
  31. "Android Users Can Now Get On-Demand Therapy With 'Talkspace'". Observer. 2014-12-16. Retrieved 2017-06-19.
  32. Chapin, Angelina (2016-07-09). "Text therapy: once my therapist sent me an emoji, I knew it was game over". The Guardian. ISSN 0261-3077. Retrieved 2017-06-19.
  33. "Dawn of the Text-Message Therapist". Motherboard. Retrieved 2017-06-28.
  34. "The Power Of Purpose: TalkSpace Donates Over One Hundred Years Of Free Therapy To Medical Workers". Retrieved 2020-08-16.
  35. Crook, Jordan. "Talkspace online therapy platform raises $15 million Series B | TechCrunch". Retrieved 2017-06-19.
  36. Cynthia Koons. "Talkspace Wants to Build a Better Therapist With AI Listening In". Bloomberg. Retrieved July 8, 2020.
  37. "I spent 7 amazing days with a therapist who only knew me via text message". Business Insider. Retrieved 2017-07-13.
  38. "Talkspace Showcases e-Therapy App at Flatiron Plaza". The Epoch Times. 2014-11-05. Retrieved 2017-07-13.
  39. "Online Virtual Therapy". DomesticShelters.org. Retrieved 2017-07-13.
  40. "Dawn of the Text-Message Therapist". Motherboard. Retrieved 2017-07-13.
  41. "Can your smartphone update your mental health". Retrieved 2017-07-13.
  42. "TalkSpace Wants to Change How People Seek – and See - Therapy - Healthegy". Healthegy. 2016-10-02. Retrieved 2017-07-13.
  43. Sweeney, Eva (2017-03-28). "Talkspace and Being Non-verbal". Eva Sweeney. Retrieved 2017-06-13.
  44. "12 Parenting Apps You Didn't Know You Needed (But You Do)". Scary Mommy. 2017-04-08. Retrieved 2017-06-13.
  45. "TalkSpace Review | Online Therapy Reviews | E-counseling.com". E-Counseling.com. Retrieved 2017-07-13.
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