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After asserting an further $10 million increase in July, bringing its complete Sequence 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 Well being Enterprise. 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 troublesome determination to let go of gifted group members throughout 20% of our workforce. We approached these selections targeted on the capabilities we have to finest 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 Sequence 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 companies for teengers, add interactive content material and add advantages for the corporate’s staff.
In March, the corporate Brightline introduced it had acquired a whopping $105 million in funding, pushing its valuation to $705 million. It additionally not too long ago launched a digital teaching program geared toward dad and mom and caregivers with kids in danger for or identified with autism spectrum dysfunction (ASD).
That increase got here lower than a yr after Brightline introduced it introduced in $72 million in Sequence B funding.
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