SoftBank Group’s Vision Fund 2 led an $80 million funding in Pear Therapeutics Inc., a leader in Prescription Digital Therapeutics. The Boston, Massachusetts-based startup develops prescription software applications aiming at treating substance-using disorders, schizophrenia, and multiple sclerosis.
Temasek Holdings Pte, 5AM Ventures, Arboretum Ventures, Jazz Venture Partners, Novartis AG, CrimsoNox and EDBI are the other existing investors who participated in Series D funding round. Other participants that took part as the first-time investors include Forth Management LLC, Pilot House, Sarissa Capital, Shanda Group Pte, and Quad Investment Management Crop., Pear Therapeutics said in a statement.
“This oversubscribed round of funding will allow us to continue to invest in the launches of our three commercial products to accelerate revenue growth, which we intend to reinvest in our robust pipeline and platform,” said CEO of Pear Therapeutics, Corey McCann.
While SoftBank’s $100 billion fund is the world’s largest technology-focused venture capital fund with outsized bets on companies like Uber and WeWork. The group’s Vision Fund 2 has focused more on the health-tech startups, the biggest category in its portfolio as of September, 30. The other biotech investment in its portfolio includes blood-testing startup Karius Inc. and AI drug researcher XtalPi Inc.