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Trusst isn't accepting new investments

Trusst’s deadline was April 16, 2021

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Trusst

The mental healthcare system is broken. Trusst is how we start fixing it.
Healthcare Services Social Impact B2C Apps
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$105,839
Raised
347
Investors
Successfully funded and closed on April 16, 2021.
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Closed on April 16, 2021. Information may not be up-to-date. Campaign closed on April 16, 2021. Information displayed may not be up-to-date.
Problem Solution Product Traction Customers Biz. model Market Competition Vision and strategy Funding Founders
About Team Press

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Trusst Health Inc.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Trusst Crowd SAFE SID Step by Step Instructions.docx.pdf Crowd SAFE Amendment No. 1.docx Trusst Form C.pdf
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Hear from some of the 347 investors in Trusst


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Highlights


$100K+ revenue
Company had over $100K in revenue in the past 12 months
$1M+ raised
Company has previously raised over $1M in capital
Venture-backed
Company is backed by a venture capital firm
  • Over $1M raised from angels and institutional investors
  • Operating in 35 states, over 62k app interactions and 13k in app messages
  • Potential for $145M+ ARR in 5 years
  • Research-backed approach to care with A.I. engine based on 4M+ messages
  • Founder a 3x entrepreneur, licensed psychologist, and Dartmouth professor
  • Completed pilots and converted enterprise contracts
  • Established D2C service

Problem


The majority of people with mental illness do not receive professional help

Nearly one in five Americans live with a mental illness, but the majority of these people do not receive professional help. There are multiple contributors to this problem, but two predominant factors are cost and accessibility.


  • The average cost per therapy session is $100-200 
  • The U.S. will be 237,000 therapists short of demand by 2025
  • Ninety-six million Americans, or 38%, have had to wait longer than one week for mental health treatments
  • 46% of Americans have had to or know someone who has had to drive more than an hour roundtrip to seek treatment

Solution


Trusst is on a mission to transform the delivery of mental healthcare

At Trusst, we have assembled the national experts on messaging-based therapy to deliver an empirically-validated, HIPAA-compliant app that solves the scalability and affordability crisis in mental health care.

Messaging-based therapy is convenient and flexible and has been validated as an accepted and highly engaging medium for people with a range of mental health conditions. Clients can engage with virtual conversations and self help tools, or connect with our network of mental health experts anytime, anywhere. Trusst's clinicians leverage our model to manage 15x their typical capacity.

Our tiered care model scales to fit the needs of users and uses AI to maximize intervention efficacy – developing unique user profiles, suggesting relevant content, providing care recommendations, and monitoring treatment success.

Product


Empirically-validated, messaging-based psychotherapeutic help

The Trusst app offers a tiered care model that is personalized and affordable. 

At the first tier, Trusst users can access pre-recorded "virtual conversations" with national experts on mental illness. These interactive scripts guide clients through their mental health concerns, collecting data on the user's challenges as they go. 

At the second tier, Trusst users gain added support by connecting directly with a licensed mental health clinician M-F. Along with unlimited messaging access, the user gains access to mental health assessments, and expanded personalized content.

Traction


Available in 35 states
across the US

Trusst has grown exponentially since our launch in 2019. Check out a few of our stats below:

  • Over 100 remote therapists exchanging 13K+ in app messages 
  • Available in 35 states
  • Over 62k user interactions
  • $125K in ARR and closed first enterprise pilot programs with King Arthur Flour, Chroma Technologies and the University of Washington. 
  • Serviced up to 3% of the Dartmouth College student population


Customers


Almost anyone can benefit from remote therapy

We experienced early traction from enterprise customers like King Arthur Flour and Chroma Technologies, and educational institutions like the University of Washington.

Business model


Trusst leverages revenue from multiple service options

Trusst has two revenue options: 

  1. Content Subscription. Our digital content model provides users with access to world-renowned experts who provide pre-recorded virtual conversations for just $10/mo.
  2. Therapist Subscription. The Trusst clinician network provides message-based therapy for $55/week or $199/mo.

Market


Remote therapy has never been more important

COVID-19 has escalated the urgent mental health crisis in the United States. Remote, private, and convenient therapy is needed more than ever, and Trusst is well positioned for both current demand and post-COVID-19 growth. 

Our established channel partners, digital marketing campaigns and influencer ads will be essential to connecting with the 16-30 year old target market. Using this strategy, we expect to hit $145M in revenue in 5 years. 

Competition


We have the credibility, technology and business model to dominate the market

In direct contrast to our competitors, Trusst is a clinician-led platform and built on published research demonstrating the efficacy of text-based remote therapy. Our platform not only provides cost-effective and scalable access to mental health clinicians, but also provides a novel, interactive experience with world experts in mental health. 

Trusst is positioned to become the new standard of remote mental health care that can integrate a diverse set of digital tools for both clinicians and clients. 

Vision and strategy


The mental healthcare system is broken

Trusst is how we start fixing it.

We envision a world where your race, age, gender, or geographic location doesn't prevent you from getting the mental health help that you need. We imagine a future where high quality advice isn't restricted by managed care or exclusive to those with high incomes. We believe you should have immediate access to trusted mental health care that is available anywhere. 

We have established a national network of high quality clinicians and we are now focused on converting our app to a freemium model to make our care accessible to all. We envision hitting our 10,000 user target by July of 2021 through a combination of social marketing, channel partners, and celebrity virtual conversations. 

Funding


Raised over $1M to date

We have raised $1.03M to date from angel and institutional investors. Funds will support key hires, marketing, and further development on our app and online platform. 

Backed By:

Growth & Exit Options

Our initial plan is to develop our sales and marketing channels, as well as to continue building out our app and online platform. From there, we anticipate growth in other verticals including education, employers, and payers. Likely exit options include later-stage digital mental health companies, payers, or newer tech health care companies.

Founders


Our Founder



Bill Hudenko, Ph.D. is the founder and CEO of Trusst Health Inc.

Dr. Hudenko has deep experience in intersection of mental health and technology. He is a licensed psychologist, a researcher, and a professor who holds a joint appointment as a faculty member at Dartmouth's Department of Psychological and Brain Sciences and Dartmouth’s Geisel School of Medicine.  His research focuses on the use of technology to improve mental health delivery and patient outcomes.  Dr. Hudenko is also an experienced software engineer and a serial entrepreneur with successful exits. He is the former CEO of Voi Inc., and of Incente LLC -both startup companies created to enhance mental health using technology.

 

Deal terms


Valuation cap

$6,000,000

The maximum valuation at which your investment converts into equity shares or cash.
Learn more

Discount

15%

If a trigger event for Trusst occurs, the discount provision gives investors equity shares (or equal value in cash) at a reduced price.
Learn more.

Minimum investment

$100

The smallest investment amount that Trusst is accepting.
Learn more

Funding goal

$1.07M

The maximum amount the offering can raise is $1.07M.
Learn more

Deadline
Trusst needs to reach their minimum funding goal before the deadline ( ). If they don’t, all investments will be refunded.
Learn more
Type of security

Crowd SAFE

A SAFE allows an investor to make a cash investment in a company, with rights to receive certain company stock at a later date, in connection with a specific event. · Learn more

How it works

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Trusst Health Inc.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Trusst Crowd SAFE SID Step by Step Instructions.docx.pdf Crowd SAFE Amendment No. 1.docx Trusst Form C.pdf

Bonus perks

In addition to your Crowd SAFE, you'll receive perks for investing in Trusst.
Invest
$100
Receive
  • A personal tweet, post, or mention on social media
  • A special thank-you gif
Invest
$500
Receive
  • One week of free message-based therapy on the Trusst app
Invest
$2,200
Receive
  • One week of free message-based therapy on the Trusst app
  • Personalized "I support mental healthcare" gif for download and sharing
Invest
$10,000
Receive
  • One week of message-based therapy on the Trusst app
  • Handwritten thank-you note from the Trusst Team
  • Special feature on the Trusst website
Invest
$50,000
Receive
  • Handwritten thank-you note from the Trusst Team
  • Special feature on the Trusst website
  • 3 free months of message-based therapy for you or a loved one
Invest
$100,000
Receive
  • Handwritten thank-you notes from the Trusst Team
  • Special feature on the Trusst website
  • 3 free months of message-based therapy for you or a loved one
  • Virtual meet-and-greet with Trusst Founder Bill Hudenko

Why others invested

See all reviews (0) See all (0)

Amazing product + biz model, founder-company fit, and aligned incentives. 1) Product:Two-way marketplace for therapy w/ B2B focus -> profitably addressing mental health crisis. 2) Founder-Company fit: Dartmouth psychologist and software eng. w/ successful startup exits -> strong execution ability. 3) Incentives: two health professionals on board + explicit claim to help custs migrate offline -> customer-centric, (hopefully) high LTV.

Profile picture of Jonathan Delgadillo Lorenzo
Jonathan Delgadillo Lorenzo
Active investor
over 4 years ago

As a former Pre-Trial Officer I have first hand knowledge of how broken the mental health service industry is and the long wait times that potential patients have to endure. I believe that this was already a much needed service before COVID and now it's needed even more that people lives have been so disrupted.

Profile picture of Anthony Illa
Anthony Illa
Active investor
over 4 years ago

During this pandemic it's become obvious to me the need for people to speak with other people. Even more so, for people to speak with qualified professionals about what they're going through. Trusst seems like a perfect addition to face to face options.

Profile picture of Brent Hartman
Brent Hartman
Value-add investor
over 4 years ago

About Trusst

Legal Name
Trusst Health Inc.
Founded
Feb 2019
Form
Delaware Corporation
Employees
4
Website
trusst.app
Social Media
Headquarters
Google Map location of of Trusst
19 Rocky Hill Lane , Lyme, NH
Headquarters
19 Rocky Hill Lane, Lyme, NH, United States 03768

Trusst Team
Everyone helping build Trusst, not limited to employees

Profile picture of Bill Hudenko, Ph.D.
Bill Hudenko, Ph.D.
Founder & CEO
Dr. Hudenko is a licensed psychologist, a researcher, and a professor who holds a joint appointment as a faculty member at Dartmouth College’s Geisel School of Medicine and Dartmouth College’s Department of Psychological and Brain Sciences.
Profile picture of David Allen, M.B.A.
David Allen, M.B.A.
Co-founder & COO
David has over 20 years of experience driving growth for corporations, community agencies and foundations. His passion is navigating technology startups through early-stage milestones in order to achieve long-term stability and success.
Profile picture of Dror Ben-Zeev, Ph.D.
Dror Ben-Zeev, Ph.D.
CSO
Dr. Ben-Zeev is a Professor of Psychiatry and Behavioral Sciences at U.W. and licensed Clinical Psychologist who specializes in development and evaluation of technology-based approaches in the treatment of severe mental illnesses.
Profile picture of Zoe Snow
Zoe Snow
Product Manager
Zoe is an entrepreneur and behavioral researcher, with an abiding interest in mental health. While pursuing degrees in both Psychology and Government at Dartmouth College, Zoe conducted research on the impact of remote messaging on mental health.
Profile picture of Karen Fortuna, Ph.D.
Karen Fortuna, Ph.D.
Clinical Director
Dr. Karen Fortuna is a Licensed Clinical Social Worker and an Assistant Professor of Psychiatry at Dartmouth College. Dr. Fortuna's research combines community engagement and user-centered design to design and empirically test digital technologies.
Profile picture of Mridul Mehta, Ph.D.
Mridul Mehta, Ph.D.
Head of Engineering
Dr. Mehta has over 15 years of experience leading strategy, architecting cutting-edge technology, creating ML algorithms, and driving innovation in Quantitative Finance and Insurance. Mridul holds a PhD in Mathematics from the University of Chicago.
Profile picture of Mike Lannen
Mike Lannen
Web & Digital Strategist
Mike has over 20 years experience in the fields of web and digital marketing in both the B2B and B2C markets. He is also an Eagle Scout and prides himself on always being prepared.
Profile picture of Christy Matthews
Christy Matthews
Digital Marketing Manager
Christy Matthews has over 8 years of experience in digital marketing strategy and project management. She holds a degree in Business Administration and a minor in Digital Marketing and Data Analytics from UConn.
Profile picture of Kevin McCurdy
Kevin McCurdy
Board Member
An experienced entrepreneur, Kevin brings more than 25 years of experience founding and successfully growing innovative companies including Bamboo.com, Zinio, Picaboo, and Worthee.
Profile picture of Jason  Drebitko, Ed.M, M.E.M.
Jason Drebitko, Ed.M, M.E.M.
Advisor
As an executive and entrepreneur with 20+ years of experience in business development, consumer behavior and market research, fundraising and product development, Jason enjoys helping visionary organizations realize their full growth potential.
7 more team members
Bill Hudenko, Ph.D.
Founder & CEO
David Allen, M.B.A.
Co-founder & COO
Dror Ben-Zeev, Ph.D.
CSO
Zoe Snow
Product Manager
Karen Fortuna, Ph.D.
Clinical Director
Mridul Mehta, Ph.D.
Head of Engineering
Mike Lannen
Web & Digital Strategist
Christy Matthews
Digital Marketing Manager
Kevin McCurdy
Board Member
Jason Drebitko, Ed.M, M.E.M.
Advisor

Press

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Feb 24, 2021

Trusst featured starting at 8:30 mark. PrimeTime lineup including David Goldberg General Partner @Alpaca VC, Christie Pi...

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·
Jan 27, 2021

Editor's Note: This article is regularly updated to bring you relevant, up-to-date information. When it comes to finding ...

Why Text Therapy Is a Great Tool During COVID-19
Healthcentral
·
Sep 10, 2020

How long has it been since you sent your last text? A few hours, or maybe even a few minutes? Most of us are texting nons...

Researchers cite benefits of texting services on mental h...
ConsumerAffairs ConsumerAffairs
·
Jul 29, 2020

Mental health struggles affect consumers of all ages -- kids, college students, and adults. However, finding the right tr...

50 Businesses, 50 Solutions: Hanover start-up meets pande...
Concord Monitor Concord Monitor
·
Jul 28, 2020

As a licensed psychologist and researcher at Dartmouth College, Bill Hudenko knows the importance of - and the barriers t...

King Arthur Flour joins growing number of organizations u...
Abnewswire Abnewswire
·
May 27, 2020

Trusst Health Inc and King Arthur Flour partner to provide messaging-based psychotherapeutic service for mental health tr...

Trusst Health Inc. Launches The First National Therapist ...
Prnewswire

The first-of-its-kind program includes general training for telemental health service, and training in specific text mess...

The Impact of Technology on Youth Mental Health with Bill...
Libsyn

RC020 The Impact of Technology on Youth Mental Health with Bill Hudenko Bill J. Hudenko, Ph.D. Founder &...

Dr. Bill Hudenko, Troublemaker at Trusst
Troublegroup Troublegroup

It will take a herculean effort to overcome stats like that...or maybe just a brilliant psychologist, researcher, and pro...

#108 - Bill Hudenko: The Mind Body Connection - Cyber Sec...
Cyber Security Interviews Cyber Security Interviews

Bill Hudenko, Ph.D. has significant experience in the fields of both mental health and technology. Dr. Hudenko is a licen...

‎The Therapy Show with Lisa Mustard: A New Messaging Base...
Apple Podcasts Apple Podcasts

‎So many of us are looking for ways to continue providing therapy and counseling services in this new normal. Dr Bill Hud...

‎Selling the Couch: Text-based Therapy And Using It In An...
Apple Podcasts Apple Podcasts

‎As clinicians, we occupy a unique role as we hold space for the grief of our clients while still navigating our own grie...

Trusst : An ingenious mental healthcare solution made for...
Anchor FM Inc. Anchor FM Inc.

A company called Trusst has figured out a way to expand access to mental healthcare just when the world needs it the most...

Text Messaging: The Next Gen of Therapy in Mental Health
Dartmouth Dartmouth

A Psychotherapy Tool in Real-Time that Enhances Care HANOVER, N.H. - July 28, 2020 - In the U.S., it is estimated that ap...

Show all
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Trusst

Trusst successfully raised $105,839 from 347 investors on April 16, 2021
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