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§ Private Profile · Scottsdale, AZ, USA
Behavioral health integration company embedding licensed therapists onsite in primary care practices, improving patient mental health outcomes.
Based in Scottsdale, Arizona, evolvedMD integrates behavioral health services into primary care by embedding licensed therapists directly within medical practices. The company operates with a workforce of 51 to 200 employees and has deployed its collaborative care model across more than 200 clinical locations in five states including Colorado and Utah. After recording 255 percent revenue growth between 2021 and 2023, the organization served over 36,000 patients in 2024 and expanded mental health access for more than one million Americans. Its clinical customer base includes prominent healthcare networks such as Banner Health, VillageMD, and Tampa General Hospital. To finance this ongoing operational expansion, the enterprise recently secured a $34 million Series B funding round led by Goldman Sachs Alternatives, alongside participation from Conductive Ventures. The healthcare company was founded by Erik Osland and Steve Biljan.
evolvedMD has raised $53.0M across 3 funding rounds.
evolvedMD has raised $53.0M in total across 3 funding rounds.
evolvedMD has raised $53.0M across 3 funding rounds. Most recently, it raised $34.0M Series B in July 2025.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jul 1, 2025 | $34M Series B | — | Canaan Partners, Conductive Ventures, Vanessa Larco, Catherine LU, Varsha RAO | Announced |
| Jun 1, 2023 | $14M Series A | Conductive Ventures | Canaan Partners, Vanessa Larco, Catherine LU, Varsha RAO, Emily Durfee, Tectonic Ventures, Waterline Ventures | Announced |
| May 1, 2022 | $5M Series A | Conductive Ventures, Waterline Ventures | Canaan Partners, Vanessa Larco, Catherine LU, Varsha RAO | Announced |
evolvedMD has raised $53.0M in total across 3 funding rounds.
evolvedMD's investors include Canaan Partners, Conductive Ventures, Vanessa Larco, Catherine Lu, Varsha Rao, Emily Durfee, Tectonic Ventures, Waterline Ventures.
evolvedMD is a Scottsdale, Arizona-based technology-enabled behavioral health integration company founded in 2017 that embeds behavioral health managers (BHMs) and clinicians into primary care practices to deliver the Psychiatric Collaborative Care Model (CoCM).[1][2][3][4][5][6] It serves primary care providers (PCPs), health systems, and patients across various demographics and insurance types—including Medicare, Medicaid, and commercial plans—by solving the mental health access crisis, where over half of U.S. adults with mental illness and 60% of youth with major depression receive no treatment, through onsite, integrated services that improve outcomes and reduce PCP burnout.[1][4][5][6] The company has shown strong growth momentum, ranking No. 1,522 on the 2022 Inc. 5000 list for revenue growth, expanding to over 200 locations in five states, serving 36,000+ patients in 2024, securing $5.4M Series A (2022), $14M Series A-Prime, and $34M Series B funding led by Goldman Sachs Alternatives.[1][4][5]
evolvedMD was co-founded in 2017 by Erik Osland and Steve Biljan, who identified a critical gap after a pilot program showed 80% of screened patients positive for depression lacked mental health access.[2][5] Osland and Biljan, serving as co-CEOs, drew on their expertise to disrupt fragmented behavioral health by fully integrating it into primary care settings, starting with onsite clinicians to provide immediate, in-person care without referrals.[1][2][6] Early traction included rapid expansion in Arizona and Utah, partnerships like Advanced Spine and Pain Centers and Premier Family Medical, and accolades such as Phoenix Business Journal's Best Places to Work (2022) and Inc. 5000 recognition, fueled by a $5.4M Series A from Waterline Ventures and Conductive.[1][2]
evolvedMD rides the wave of integrated primary care for behavioral health, shifting from fragmented, outpatient referrals to embedded models amid rising mental health needs post-pandemic and chronic under-treatment.[4][5][7] Timing aligns with payer incentives for CoCM reimbursement, consolidation in behavioral health, and tech-driven care coordination, mirroring trends in managing cardiometabolic conditions within primary care.[4] Market forces like provider burnout, stigma reduction, and value-based care favor its approach, influencing the ecosystem by partnering with giants like NeuroFlow, VillageMD, and HonorHealth to standardize integrated models nationwide.[1][3][4]
With $34M Series B fueling expansion, evolvedMD is poised to scale beyond its Southwest footprint into more states, deepening tech integrations like AI-enhanced registries and targeting the underserved 50M+ U.S. adults needing care.[4][5] Trends in whole-health integration, payer alignment, and digital therapeutics will accelerate its growth, potentially positioning it as the CoCM standard-bearer amid behavioral health's shift to primary care.[4][7] As it disrupts access barriers started by founders Osland and Biljan, evolvedMD's model promises sustained impact, reimagining behavioral health for all through embedded, tech-powered solutions.[1][2]