Thriveworks Administrative Services, LLC

Thriveworks Administrative Services, LLC is a US-based company specializing in mental health services, providing compassionate care through therapy and psychiatric services designed to support individual growth and healing. Founded in 2008 in Lynchburg, US, Thriveworks Administrative Services, LLC focuses on delivering accessible mental health support. The company has undergone strategic changes to enhance its service offerings and currently operates as a prominent provider in the mental health industry. The CEO is Curtiss Robinson, with Emily Matorin also part of the leadership team.

Thriveworks has successfully closed two investment deals, with the most recent deal taking place on July 26, 2021. Thriveworks Counseling offers a comprehensive suite of mental health services, emphasizing individualized care for various psychological conditions. Their core services include individual therapy, couples and marriage therapy, family therapy, and child and teen therapy, along with psychiatric services such as medication management. Ensuring accessibility, Thriveworks operates over 340 locations across the United States, providing both in-person and online therapy options tailored to client needs.

Thriveworks generates revenue primarily through direct-to-consumer transactions for its mental health services, where clients book appointments for therapy or psychiatric consultations. Many of these services accept insurance, allowing some clients to access care with no out-of-pocket costs. The company promotes a seamless payment structure linked to services rendered and emphasizes affordability and accessibility in its service delivery. In July 2021, Thriveworks secured an investment from a consortium led by Wellington Management, alongside Fidelity Investments, RA Capital, Redmile Group, and Transformation Capital.

The financial terms were not disclosed, but the investment proceeds aim to expedite Thriveworks' expansion efforts nationwide. The company intends to broaden its service offerings and enhance its market presence across various regions, aligning its growth strategy with the increased capital from recent funding.