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After saying an additional $10 million raise in July, bringing its whole Collection C funding to $115 million, pediatric digital behavioral well being firm Brightline is shedding 20% of its workforce.
The layoffs at Brightline had been first reported by Behavioral Health Business. Cuts had been made throughout all areas of the corporate.
“We recognized a number of areas to realign our strategic priorities and have made the tough determination to let go of gifted staff members throughout 20% of our workforce. We approached these choices centered on the capabilities we have to greatest serve our members at this time and our targets of serving much more households sooner or later,” Brightline informed MobiHealthNews in an electronic mail.
THE LARGER TREND
Brightline’s Collection C extension announcement in July was led by New York-based well being system Northwell Well being. The strategic funding and partnership was to permit the startup to coordinate companions for specialty care, increase providers for youngsters, add interactive content material and improve advantages for the corporate’s workers.
In March, Brightline introduced it had obtained a whopping $105 million in funding, pushing its valuation to $705 million. It additionally lately launched a virtual coaching program geared toward dad and mom and caregivers with youngsters in danger for or identified with autism spectrum dysfunction.
That increase got here lower than a 12 months after Brightline introduced it introduced in $72 million in Series B funding.
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