Talkiatry
A New York virtual psychiatry practice that employs 800+ psychiatrists and takes insurance only. It has raised over $400 million, but its valuation has never been disclosed.
MedCity News, Feb 2026- Raised
- $400M+ the company's own total after a $210M Series D in Feb 2026, a mix of equity and bank debt.
- Valuation
- Not disclosed Talkiatry declined to give one for the Series D; only data vendors list a figure.
- Scale
- 4M+ visits up from 1M in June 2024; 800+ full-time psychiatrists on staff.
- Watch
- DEA deadline telehealth controlled-drug prescribing rules lapse Dec 31, 2026 unless the DEA finalizes or extends them.
- AI
- Back office a proprietary AI platform automates admin work and patient follow-up; no AI clinician product.
- Liquidity
- None found no staff tender offer or secondary sale reported; CEO says no near-term IPO plans.
- Hiring
- 175 → 169 remote listings since Oct 10.
Insurers pay the bills, and nobody else does.
Talkiatry is a medical practice, not an app. It employs psychiatrists and therapists on salary and bills health plans for visits: 100+ commercial plans plus Medicare, but not Medicaid, and no self-pay for new patients. A growing slice comes from value-based deals tied to outcomes, and from health systems that refer patients to it. It runs no subscriptions and owns no pharmacy.
Talkiatry llms.txt, checked Oct 31, 2026; MedCity News, Feb 2026- 1Employed psychiatrists, not a contractor marketplaceIt calls itself the largest private employer of psychiatrists in the U.S., with 800+ on W-2 staff, where many rivals use master's-level contractors.Behavioral Health Business, Jun 2024; MedCity News, Feb 2026
- 2In network almost everywhereIn network with 100+ insurers covering 170M+ lives, and the referral partner for more than 70 U.S. health systems.Talkiatry, Oct 5, 2026
- 3Built into other doctors' records systemsTalkiatry Connect (Apr 2026) puts a one-click referral inside 30+ cloud EMRs such as athenahealth and eClinicalWorks, free to the referring practice.HIT Consultant, Apr 9, 2026
- LifeStance Health$5.12Blisted, Oct 30 close
- Headway$2.30Bprivate, Jul 25
- Teladoc Health$1.55Blisted, Oct 30 close
Private values are the last reported round; they can be stale. Listed values are market value. Bars start at zero.
Every round, and what its terms give away.
Talkiatry is private, so there is no share price. What its investors paid, and on what terms, is the closest thing to one.
- $400M
- raised in all
- 1,100
- employees, as reported
Not disclosed. Talkiatry declined to comment on its path to profitability.
MedCity News, Feb 2026 (800+ psychiatrists, 300 therapists, $400M+ raised); STAT (profit)- Feb 12Series D$210MLed by Perceptive AdvisorsOversubscribed. Sofina new; a16z, blisce/ and Left Lane returned; includes a Banc of California debt facility, split not disclosed.Talkiatry release via Healthcare IT Today
- Jun 18Series C$130MLed by Andreessen HorowitzEquity and debt combined; Perceptive joined, Banc of California provided the debt. Total raised then $245M.Talkiatry, Jun 18, 2024
- Jan 27Series A$37MLed by Left Lane Capital (added $17M)Total Series A of $37M including the $17M extension.HIT Consultant, Jan 27, 2022
- Feb 18Early equity (Form D)$5.0MTalkiatry Holdings, LLC filed a Form D for $5M of equity, fully sold.SEC Form D, filed Feb 24, 2021
- Down or flat round?Cannot tell. No valuation has been disclosed for any round, and the company declined to comment on the Series D.STAT, Feb 12, 2026Open
- How much the last round soldUnknown without a post-money valuation, and the debt share of the $210M is not broken out.Talkiatry release via Healthcare IT TodayOpen
- Time since the last raiseAbout eight and a half months since the Feb 2026 Series D; the CEO said part of the money is a cushion to keep paying clinicians if insurer payments stall.STAT, Feb 12, 2026Clear
- Unusual terms or debt-heavy?Both the Series C and D mixed equity with Banc of California debt; the size and terms of the debt were never disclosed.ABF Journal, Jun 20, 2024Open
- Who ledEach round had a different lead: Left Lane, then a16z, then Perceptive Advisors, with Sofina joining as a new investor in the Series D.Talkiatry release via Healthcare IT TodayClear
- Can staff sell shares?No tender offer or employee secondary sale found in company releases or press. The CEO said there are no near-term IPO plans.MedCity News, Feb 2026Open
- Layoffs in the last 12 months?None found in press or company news. Psychiatrist headcount rose from 600+ (May 2025) to 800+ (Feb 2026).Talkiatry newsroom, checked Oct 31, 2026Clear
Clear: checked, nothing found. Flag: found, with the source. Open: could not be checked.
What the record says, and what we think it means.
The fact is the source's. The read, in italics, is ours.
- 01Watch
The rule that lets it prescribe controlled drugs by video ends Dec 31, 2026.
Holland & Knight, Jan 13, 2026; Talkiatry llms.txtDEA and HHS extended COVID-era telemedicine flexibilities a fourth time, through Dec 31, 2026, while the DEA works on permanent rules. Talkiatry treats ADHD, which often involves Schedule II stimulants.
Four extensions in a row suggest another fix is likely, but a lapse would force in-person visits for some new patients. It hired a former senior DEA diversion official as chief compliance officer in 2023.
- 02Watch
A patient class action over sharing data with Meta is moving forward.
Bloomberg Law, Jan 23, 2026; Oct 2, 2025A Jane Doe suit in the Central District of California says Talkiatry's site sent health information to Meta through its tracking pixel. Some claims were dismissed in Oct 2025; in Jan 2026 the judge refused to dismiss the California privacy claims.
Allegations only, not a finding. Pixel cases have hit many health providers; settlements are common and can be costly for a privacy-sensitive brand.
- 03Watch
Every new patient comes through an insurer.
Talkiatry llms.txt, checked Oct 31, 2026; STAT, Feb 12, 2026It takes insurance only, with no self-pay for new patients, and does not accept Medicaid.
Good for patients' wallets, but insurer rate cuts or slow payments hit revenue directly. The CEO cited the 2024 Change Healthcare hack, which delayed payments, as a reason to hold extra cash.
- 04Good
Visits quadrupled in about two years.
Talkiatry releases, Jun 2024 to Oct 20261M visits by June 2024, 2M by May 2025, 3M by Feb 2026 and 4M+ by Oct 2026.
Real volume growth from a practice that employs its clinicians. Visits are not revenue, and the company publishes no revenue figure.
- 05Good
Earned Joint Commission accreditation in Oct 2026.
Talkiatry, Oct 5, 2026The review covered operations, care delivery, and privacy and security practices, with site observations and interviews.
A quality badge that big health systems and payers look for. It does not settle the separate privacy lawsuit.
- 06Neutral
Betting on outcome-based payment deals.
Talkiatry, Jun 18, 2024It says one national health plan program cut hospitalizations 68% and ER visits 32% and saved about $700 per member per month.
The company's own numbers from one unnamed plan. If they hold up, payers may pay more for results; if not, the deals carry downside risk.
- 07Good
Partnered with the largest medical group association.
AMGA, Apr 15, 2026AMGA, whose 400+ members employ 175,000+ physicians, picked Talkiatry in April 2026 for in-network psychiatry access.
A referral pipe into big physician groups. The deal terms were not disclosed.
- 08Neutral
A listed rival is being bought by a hospital company.
Talkspace, May 29, 2026Talkspace stockholders approved a sale to Universal Health Services in May 2026, with closing expected in Q3 2026.
Shows hospital and payer groups will buy virtual mental health platforms, one possible exit path for Talkiatry.
Clinical is paid 139% over market. Engineering, 33% under.
We save every company's roles, pay by team and level, AI share and churn every day, so each month this page can say more. Sparklines use their own scale.
Can AI agents do business with Talkiatry?
We checked the agent payment programs, developer docs and site rules an AI assistant would meet.
Readable, not bookable. Open robots.txt and an llms.txt, but no API or agent channel to book care.
Still Remote read- YesA site summary AI tools can readtalkiatry.com/llms.txt describes services, conditions treated and not treated, insurance rules and states served.checked Oct 31, 2026
- YesLets AI crawlers read its siterobots.txt allows all bots with an empty Disallow line and points to the sitemap. No AI bots named.checked Oct 31, 2026
- Not foundAn MCP server or API agents can callNo public API, developer docs or MCP server listed on the site or in its llms.txt.checked Oct 31, 2026
- Not foundCan an agent book a visit?Booking runs through an online assessment and insurance check for the patient; no agent or partner booking channel is described.checked Oct 31, 2026
- MixedMachine-to-machine referralsTalkiatry Connect auto-fills referrals inside 30+ EMRs, but as a browser overlay for human clinicians, not an agent interface.HIT Consultant, Apr 9, 2026
Where Talkiatry puts AI to work.
- 1AI runs the paperworkIts own AI platform automates back-office work, engages patients between visits and supports payer contracts. The company says clinicians using it report 80% less burnout than the industry average.Talkiatry release via Healthcare IT Today
- 2AI tracks progress, doctors still treatIts AMGA program pairs clinical assessments with AI-powered tracking of patient progress. STAT described the CEO's plans for clinical AI as ambiguous.AMGA, Apr 15, 2026; STAT, Feb 12, 2026
- 3Adding clinicians, not replacing themPsychiatrists grew from about 30 in Jan 2022 to 300+ in June 2024 and 800+ by Feb 2026, plus 300 therapists.MedCity News, Feb 2026; HIT Consultant, Jan 2022
Fewer listings than on Sep 7, most of them in clinical.
The signals, and which way they push.
- TailwindVolume keeps compounding.
Visits went from 1M to 4M+ between June 2024 and Oct 2026, and health system partners from 50+ to 70+.
- TailwindPsychiatry waits are long.
AMGA puts the average wait for a new psychiatric appointment at more than six weeks, which is the gap Talkiatry sells into.
- HeadwindPrescribing rules are temporary.
Controlled-drug telehealth flexibilities expire Dec 31, 2026 and have been extended four times rather than made permanent.
- HeadwindPrivacy suit survived dismissal.
California privacy claims over the Meta pixel are proceeding after a Jan 2026 ruling.
Where Talkiatry ends up, if we had to bet.
Our calls, not facts. Each one is tied to something that already happened, so you can judge the reasoning.
- 1
Talkiatry lists publicly by 2031.
Coin flip 50%IPOIn Feb 2026 the CEO said there are no near-term IPO plans, so a listing is years out at best. It has raised $400M+ with no staff liquidity program on record, which builds pressure for an exit.
MedCity News, Feb 2026 - 2
A hospital group, insurer or provider network buys Talkiatry instead.
Coin flip 50%M&AUniversal Health Services agreed to buy Talkspace in 2026, showing appetite for virtual mental health. Talkiatry's employed-psychiatrist model and 70+ health system partners would fit a buyer like that.
Talkspace, May 29, 2026 - 3
Talkiatry treats sicker patients and earns more from outcome-based contracts.
Likely 72%ProductsIt said the Series D funds expansion across the acuity spectrum into more complex care. It already reports savings data from a value-based program with a national plan.
Talkiatry release via Healthcare IT Today - 4
AI handles most admin and between-visit check-ins, while psychiatrists stay the core product.
Likely 72%AIIts AI is already aimed at back-office work and engagement between visits. Headcount has grown every year, with no sign of replacing clinicians.
Behavioral Health Business, Feb 12, 2026 - 5
Video prescribing of controlled drugs survives, but with a DEA registration step for practices like Talkiatry.
Likely 72%RegulationDEA has extended the flexibilities four times and says it intends to finish permanent rules. It already finalized narrower rules for buprenorphine and VA care.
Holland & Knight, Jan 13, 2026
Read by the Still Remote research agent on November 1, 2026 from the sources linked on this page. Facts and scenarios only, not investment advice.