How Much Did Pear Therapeutics Raise? Headquarters, Funding & Key Investors

Pear Therapeutics raised $20 M in its Series A round in February 2016, followed by $50 M in Series B in January 2018, then $64 M in Series C in January 2019, $50 M via debt financing in July 2020, $80 M in Series D in December 2020, and $125 M in a post-IPO equity round in December 2021, bringing its total funding to approximately $266 M. The company reached a valuation of about $1.6 B as of June 2021, focusing on software-based therapeutic solutions in the healthcare IT sector.

How Much Did Pear Therapeutics Raise? Funding & Key Investors

Pear Therapeutics, founded in 2013 by Stephen Smith, Walter Greenleaf and William Greene, is a Boston-based United States company specialising in digital therapeutics that combine mobile health applications with pharmaceuticals and supplements. With a team of about 207 employees as of December 2022, the firm develops clinically validated software treatments such as reSET, reSET-O and Somryst for conditions including substance use disorder and insomnia. Its patented approach integrates apps, behavioural games and prescribed medication to offer novel therapies at the intersection of health-tech and biotech.

What Is Pear Therapeutics and What Does It Do?

Pear Therapeutics, founded in 2013 by Stephen Smith, Walter Greenleaf and William Greene, is a Boston-based (United States) healthcare IT company. The company develops and commercialises software-based digital therapeutics that combine mobile apps, supplements, medical foods and pharmaceuticals into treatment solutions.

Pear Therapeutics employs about 207 people as of December 2022. Its platform offers prescription digital therapeutics for example, reSET, reSET-O and Somryst, that enable patients to use mobile applications concurrently with medication or supplements to treat chronic health conditions and insomnia, aiming to improve efficacy and outcomes.

How Much Funding Has Pear Therapeutics Raised?

1. Series A

Amount Raised: $20 M
Date: February 2016
Lead Investors: 5AM Ventures, Arboretum Ventures, Jazz Venture Partners
Motivation: To advance product development and clinical trials.

2. Series B

Amount Raised: $50 M
Date: January 2018
Lead Investors: Temasek Holdings
Motivation: To expand the product pipeline and scale operations.

3. Series C

Amount Raised: $64 M
Date: January 2019
Lead Investors: Temasek Holdings
Motivation: To accelerate commercialisation and market reach.

4. Debt Financing

Amount Raised: $50 M
Date: July 2020
Lead Investors: Perceptive Advisors
Motivation: To support ongoing operations and product development.

5. Series D

Amount Raised: $80 M
Date: December 2020
Lead Investors: SoftBank Vision Fund
Motivation: To enhance the digital therapeutics platform and expand market presence.

6. Series D (Extension)

Amount Raised: $20 M
Date: March 2021
Motivation: To further develop and commercialise new products.

7. Post-IPO Equity

Amount Raised: $125 M
Date: December 2021
Motivation: To accelerate commercialisation and expand payer adoption.

Total Funding Raised: $266 Million

Current Valuation: $1.6 Billion (as of June 2021)

Latest Funding Date: December 2021

Key Investors

1. 5AM Ventures

Details: A venture capital firm focused on building next-generation life science companies.
Investment Focus Areas: Biotechnology, healthcare, life sciences.
Notable Investments: Homology Medicines, Audentes Therapeutics, IDEAYA Biosciences.

2. Temasek Holdings

Details: A global investment company headquartered in Singapore, managing a diversified portfolio.
Investment Focus Areas: Financial services, telecommunications, media & technology, transportation & industrials, consumer & real estate.
Notable Investments: Alibaba Group, Gilead Sciences, Airbnb.

3. SoftBank Vision Fund

Details: One of the largest technology-focused funds globally, investing in innovative companies.
Investment Focus Areas: Artificial intelligence, robotics, telecommunications, e-commerce, biotechnology.
Notable Investments: Uber, WeWork, ByteDance.

4. Perceptive Advisors

Details: An investment management firm specialising in the healthcare sector.
Investment Focus Areas: Biotechnology, pharmaceuticals, medical devices, healthcare services.
Notable Investments: Axsome Therapeutics, CRISPR Therapeutics, Solid Biosciences.

5. Arboretum Ventures

Details: A venture capital firm investing in early- to growth-stage healthcare companies.
Investment Focus Areas: Medical devices, diagnostics, healthcare IT, healthcare services.
Notable Investments: Health Scholars, NeuMoDx Molecular, NxThera.

Where Is Pear Therapeutics’ Headquarters?

Pear Therapeutics is headquartered in Boston, Massachusetts (United States). This location places it in one of the world’s leading biotech and digital-health clusters close to premier research universities, major hospitals and specialist talent.

What’s Next for Pear Therapeutics?

Having raised its latest funding in December 2021 and achieved a valuation of approximately $1.6 billion, Pear Therapeutics faces a challenging path ahead. It aims to scale its FDA-approved digital therapeutics (such as reSET, reSET-O and Somryst) into broader payer adoption, new therapeutic indications (e.g., reSET-A for alcohol use disorder), and international markets.

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