By Samantha Denefrio, PhD

What is it?

Talkspace is an online therapy platform giving you access to a licensed, independent therapist through any desktop or mobile device. It is the alternative to scheduling an in-person, traditional therapy session. Instead, you can send a  text, audio or video message anytime, anywhere, and receive a response that same day. If you are interested in online therapy, you first complete a brief assessment and get matched with a list of potential providers. Then, you choose who you want to work with and reach out to him or her. This licensed clinician will become your dedicated therapist. Talkspace has more than 4,000 licensed therapists and has helped over 1,000,000 members (Talkspace).

The Market

There is no shortage of telehealth options on the market right now providing on-demand talk therapy direct to the consumer (e.g. MDLIVE, Woebot, betterhelp, ReGain, MyTherapist, Breakthrough). The model can provide a first entry point for many people hesitant to try therapy and also be a supplemental income source for professionals (American Psychological Association).

Why is it innovative?

The growing category of mental telehealth reduces stigma associated with therapy and mental illness. It also makes reaching out much easier allowing you to discuss emotions as they come up, more often, and for shorter amounts of time. The idea is to provide therapy on your time, when you really need it, and without sacrificing quality. Research has just begun to tackle this question and some studies have already shown telehealth to be as beneficial as traditional office visits (e.g. Journal of Affective Disorders).

Talkspace is a starting point for anyone who might be interested in therapy but also aims to address the unique needs of teens, couples, veterans, and lgbt community members. They cater to specific price points and therapy needs by offering a range of plans depending on how often per week depending on how often you want to communicate with your therapist. In addition, Talkspace has the platform to work with businesses in an effort to provide mental telehealth services to employees.

Mission

“Our mission is to provide more people with convenient access to licensed therapists who can help those in need live a happier and healthier life. We are not trying to replace in-office therapy. Many people prefer that, which is fine. We created Talkspace so more people could benefit from therapy and overcome their day-to-day challenges in a stigma-free environment.”

How much does it cost?

Available plans start at $49 per week and include text, video, and audio messaging. When a message is sent, you can expect a response the same day, five days a week. More expensive plans include 30 minute live therapy sessions. More pricing information can be found at Talkspace.com.

Advantages

• Depending on insurance coverage, it may be more affordable than weekly in-person therapy sessions.
• Easy access to providers for people in rural areas.
• No missing work or school to fit in therapy.
• No travel time.
• Client data is encrypted and protected.
• Plans can be purchased as a gift for friends or family.

Disadvantages

• You have the option to close your account but chat histories cannot be deleted.                Talkspace response: “There are regulations regarding medical information require that chat histories be saved for a period of time.”

• It is not clear whether therapists are required to adhere to the same legal and ethical requirements for in-person treatment and how that is enforced.                                           Talkspace response: “Therapists on Talkspace adhere to the same legal and ethical requirements as face-to-face treatment. These are rules set out by their licensing board therapists are subject to sanctions if they do not adhere to them.”

• It is not clear whether there is an an oversight board of licensed therapists.                      Talkspace response: “Talkspace matches you to a therapist who is licensed in your state. Each state oversees the licensure of therapists practicing in their state. Talkspace also provides Clients using the platform access a Therapist Quality Assurance team made up of licensed therapists and a checked medical officer.  Further, all licensed therapists’ credentials are vetted using NACQ [National Committee for Quality Assurance] accepted standards.”

• Talkspace should provide more detail about how emergency situations are handled.       Talkspace response: “Each Talkspace Therapist has extensive training, tools, and resources on the platform to complement their own private practice experience training in emergency and duty to warn circumstances. While Talkspace is not an emergency hotline, it does collect emergency contact information. In the event of an emergency (which is uncommon), therapists may act in their client’s best interests and notify their emergency contact. In cases of imminent risk of harm to self or others, the therapist may contact the authorities who can then assist the client. Additionally, Talkspace is able to pull the client’s IP address so that the client’s location can be found.”

• In-person therapy should be recommended for more serious mental health issues in which telehealth might not be adequate.                                                                                                   Talkspace response: “There are circumstances where a client is best helped by face to face treatment.  In those cases, Therapists on Talkspace refer the client to the appropriate location/level of care to best meet their needs.”

Funding (Crunchbase)

Total $56.7M

Sept 2017 Series C $31M

Qumra Capital, Israel’s most active growth stage fund, led the Series C round with participation from existing investors including Norwest Venture Partners, Spark Capital, SoftBank, Compound Ventures and FirstTime

• Aug 2017 Series C
• Jun 2016 Series B
• Jun 2016 Series B
• May 2015 Series A
• Dec 2014 Seed Round
• Dec 2013 Seed Round
• Jul 2012 Seed Round

Facts Sheet and Details (Crunchbase)

• Founders: Oren Frank and Roni Frank
• Date Founded: 2012
• Funding Status: Late Stage Venture
• Legal Name: Groop Internet Platform Inc.
• Status: Privately Held
• Email: [email protected]
• Phone: (516) 847-5432
• Address: 33 West 60th Street 8th Floor, New York, NY 10023
• Website: talkspace.com
• Facebook: https://www.facebook.com/Talkspacetherapy
• Twitter: https://twitter.com/talkspace
• Linkedin: https://www.linkedin.com/company/talkspace-online-therapy

News Stories on Talkspace

• Why Oren and Roni Frank Are on TIME’s 50 Most Influential People in Health Care List (TIME)
• Online Therapy start-up Talkspace Hires a Chief Medical Officer from UnitedHealth (CNBC)
• Talkspace, the Global Leader in Online Therapy, Launches New Platform Offering Affordable Mental Healthcare for Teens (PR Newswire)
• An App that Links You to a Therapist by Text has Plans for a Major Expansion — Starting with Prescribing Drugs (Business Insider)
• APA Cancels Talkspace Ads Going Forward (Forbes)
• Michael Phelps Gets Real About Mental Illness (US News)