/Companies

Allswell

Techstars '25

San Francisco, US · Founded 2024 · Delaware corporation · 22 employees on LinkedIn · 5 known investors

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Allswell is a virtual therapy practice providing trauma-informed, affirming mental health care specialized for LGBTQ+ people and communities that support them. The practice offers individual and group-based therapy through secure video sessions, accepting insurance including Medicaid, and currently serves clients in Maryland, Virginia, and Washington, DC.

Also known as Allswell Health PBC

Founders & leadership

Allswell was founded in 2024 by Dawn Androphy and Connor Gordon.

DADawn Androphy
Dawn AndrophyCo-Founder & CEO
CGConnor Gordon
Connor GordonCo-Founder & CTO

Investors · 5

Also in the syndicate · 2

Seae Ventures' Unseen CapitalUnseen Capital (Seae Ventures)

Funding

SEC filings, press & company announcements

$6.8M disclosed across 1 of 2 rounds · 2025–2026

▶$6.8MraisedJul 2026 · 31 investors · Other Health Care
Rule 506(b)
Officers, directors & promoters on the filing
  • Dawn AndrophyExecutive Officer, Director, Promoter
  • Connor GordonExecutive Officer, Director, Promoter
Offering amount
$8.3M
Amount sold
$6.8M
Minimum investment
$10K
First sale
Jun 2026
Incorporated
Corporation, Delaware, 2024
Federal exemptions
06b
Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

Company profile

researched Sep 2026

Allswell (operating as Allswell Health PBC) is a virtual mental health provider delivering trauma-informed, LGBTQ+-affirming therapy to queer, trans and gender-diverse adults. Care combines weekly one-on-one video sessions with a dedicated licensed therapist and peer group sessions focused on identity, trauma and skills building, supported by digital tools such as journaling prompts and between-session worksheets. Clinical work is primarily led by social workers and grounded in affirmative cognitive behavioral therapy, with cognitive processing therapy and EMDR used for trauma; clients with higher-acuity needs are referred to external provider partners.

Onboarding begins with a free 15-minute consultation, followed by an intake session with a licensed therapist who develops a personalized care plan, then weekly sessions and matching into peer groups. The practice frames its clinical focus around identity-based trauma and minority stress, citing evidence that up to 48% of LGBTQ+ individuals meet diagnostic criteria for PTSD versus up to 8% of the general population. Areas of stated specialization include trauma and PTSD, gender identity and transition, sexuality, coming out, polyamory and non-monogamy, kink, dating and relationships, anxiety, depression, grief, body image, neurodiversity, racial identity, chronic illness and disability, and workplace stress. Mike Parent, principal researcher at Hopelab, serves as clinical advisor and guides the clinical approach; some Allswell therapists train with him directly.

The therapist network spans provisionally and fully licensed clinicians (LMSW, LGSW, LGPC, LCSW-C, LCPC, LPC, RMFT, Residents in Counseling and others) licensed in Maryland, Virginia and Washington, DC. Therapists are screened for experience with diverse LGBTQ+ populations and must complete additional training modules designed by the nonprofit OutCare Health. The company describes itself as queer-led, with staff that is 62% BIPOC, 24% transgender or gender nonconforming, and 62% neurodivergent.

Founding story

Co-founder and CEO Dawn Androphy was inspired to start Allswell while at Stanford Business School, where a course on entrepreneurship for societal health highlighted the private sector's potential to address social challenges; she conducted hundreds of interviews with healthcare consumers there. Androphy has over a decade of LGBTQ+ advocacy experience, including volunteering with Lambert House, a Seattle nonprofit supporting queer youth, where she observed that people navigating mental health on Medicaid were unable to access care designed for them. Co-founder and CTO Connor Gordon holds a B.S. in computer science from Duke University and spent over a decade in software development and product management at companies including Microsoft, Redfin and Scout.

Business model

Allswell operates as a virtual therapy practice that contracts licensed and pre-licensed therapists as independent contractors paid per session, sourcing all clients on their behalf and handling logistics, scheduling, supervision and training. Therapists set their own hours and caseload, receive no-cost supervision where required, free continuing education credits through Violet, and bonus eligibility above 10 Allswell clients per week. The company is structured as a public benefit corporation (Allswell Health PBC).

Revenue comes primarily from insurance reimbursement: Allswell is in-network with Medicaid and commercial payers including Aetna, AmeriHealth, CareFirst, Cigna, MedStar, Priority Partners, Sentara and UnitedHealthcare. Medicaid members pay $0 per session and commercial members pay $10–$25 per session on average. Self-pay and out-of-network clients are charged $175 for the initial welcome session, $125 for ongoing support sessions and $40 for group therapy sessions, with monthly superbills provided for reimbursement; the company also accepts cash pay.

Traction

Allswell reports serving 100+ LGBTQ+ clients in the DMV region and lists roughly three dozen therapists across Maryland, Virginia and DC. Outcome figures published on its site state 79% of clients experienced a reduction in depression and 72% a reduction in anxiety after 60+ days of care, as measured by PHQ-9 and GAD-7 (data updated March 25, 2026); an earlier company statement reported 83% of patients seeing reduced depression symptoms over four to eight weeks. It is listed on the Techstars job board at 1–10 employees and seed stage.

Latest developments

Allswell announced a $1.3 million pre-seed round led by Amboy Street Ventures in October 2025, earmarked for multi-state expansion, deeper digital and clinical offerings and therapist network growth, including plans to build AI-enabled versions of its between-session journaling and worksheet tools. The company has since gone live in Washington, DC and Virginia in addition to Maryland and says additional states are planned.

▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies

Market position

Allswell positions itself against generalist virtual therapy platforms and local in-office practices by specializing in LGBTQ+ care rather than offering general "LGBTQ-friendly" providers, arguing that standard therapy models — including family-of-origin frameworks and standard CBT — do not account for chosen family structures or minority stress among marginalized groups. Its founders cite a lack of mental health programs designed for LGBTQ+ adults, and note that queer people are more likely than the general population to have used telehealth, partly due to limited affirming local options.

Differentiators cited by the company include vetting and additional training of therapists via OutCare Health modules and direct training with clinical advisor Mike Parent; pairing 1:1 therapy with affirming peer groups to address elevated loneliness in LGBTQ+ populations; use of evidence-based trauma modalities (affirmative CBT, CPT, EMDR, DBT, IFS); in-network Medicaid coverage resulting in $0 sessions for most clients; and a queer-led team and provider base selected for lived experience as well as credentials.

Technology

Therapy is delivered through secure video sessions on the company's virtual platform, with client login, booking and matching flows. Between sessions, clients use digital tools including trauma-focused journaling and skills-practice worksheets; the company has stated plans to develop these into more engaging, AI-enabled applications. Therapists practice measurement-based care, tracking depression (PHQ-9), anxiety (GAD-7), loneliness and other outcomes.

Go-to-market

Allswell acquires clients directly through its website, offering a free 15-minute consultation and a one-minute self-assessment quiz as entry points, and markets insurance coverage (particularly $0 Medicaid sessions) as a primary access argument. It recruits therapists directly through remote job listings tied to Maryland, Virginia and DC licensure, and sources all clients on behalf of its contracted clinicians.

LGBTQ+ adults — including queer, trans and gender-diverse people — seeking affirming therapy, with an emphasis on populations that have been historically underserved, including Medicaid enrollees and clients facing systemic barriers such as housing instability, food insecurity and discrimination. The company states most of its patients are on Medicaid. It also lists partnership channels for organizations and providers.

Geography

Allswell serves clients in Maryland, Washington, DC and Virginia, having expanded beyond its original Maryland-only operations, and states more states are coming soon. Corporate locations listed include San Francisco and Los Angeles, California; its client-facing phone line operates on Eastern Time. All therapy is delivered remotely and therapist roles are fully remote.

History

The company was founded in 2024 and initially operated in Maryland, offering virtual one-on-one and group therapy for LGBTQ+ adults. It participated in Techstars, whose fund counts Mid-Atlantic Permanente Medical Group as a limited partner. In October 2025 it announced a $1.3 million pre-seed round, with stated plans to expand across the DMV region in early 2026, deepen its digital and clinical offerings and grow its therapist network. It subsequently launched in Washington, DC and Virginia.

Risks & controversies

The practice is concentrated in three jurisdictions (Maryland, DC and Virginia) and depends heavily on Medicaid and commercial insurance reimbursement, with most patients on Medicaid. Care is delivered by independent-contractor clinicians, many of whom are provisionally licensed and require supervision. The service explicitly does not handle emergency or crisis care, and higher-acuity patients must be referred to external providers.

Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
Average commercial insurance member cost per sessionJan 2026$10-$25
Clients with reduction in anxiety after 60+ days of care (GAD-7)Mar 202672%
Clients with reduction in depression after 60+ days of care (PHQ-9)Mar 202679%
Employee count rangeJan 20261-10
Group therapy session priceJan 2026$40
Patients seeing reduction in depression symptoms over 4-8 weeksOct 202583%
Self-pay initial welcome session priceJan 2026$175
Self-pay ongoing support session priceJan 2026$125
Share of clients paying $0 per sessionJan 202680%
Staff who are BIPOCJan 202662%
Staff who are neurodivergentJan 202662%
Staff who are transgender or gender nonconformingJan 202624%

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Related companies · 7

TalkspaceTalkspace is an online mental health care platform that provides research-backed therapy and psychiatric services covered by insurance, allowing users to connect with licensed therapists and psychiatrists through text, audio, or video.
Choosing TherapyChoosingTherapy.com is an online publication producing evidence-based guides on mental health, psychology, relationships, and parenting, written and medically reviewed by licensed therapists and medical professionals. It also runs a directory connecting consumers with local and online therapists.
nocdNOCD provides specialized treatment for obsessive-compulsive disorder through live video sessions with OCD-trained therapists and 24/7 in-app support between sessions, using exposure and response prevention (ERP) therapy. The service is delivered virtually via the NOCD app and is covered by more than 70 insurance plans.
HeadwayHeadway operates a US platform connecting patients, therapists and insurers so mental health care can be delivered in-network.
SwellcxSwell is an AI-powered reputation management and patient experience platform for multi-location healthcare groups such as DSOs, MSOs, and PE-backed specialty care networks. Its AI agent automates review generation, HIPAA-compliant review responses, patient surveys, and employee feedback, integrating with EHR and practice management systems to give operators centralized visibility across locations, brands, and providers.
AmwellTelemedicine services for health systems, health plans, employers, and physicians
The SwellThe Swell is a community and learning platform serving people in the second half of their lives, offering expert-led workshops, digital wellness tools, and curated experiences grounded in longevity science. It targets curious individuals aged 50+ who are focused on continued personal growth, health optimization, and meaningful living.

Companies working in the same space as Allswell.

Timeline · 2

launches, deals, and filings
Oct 2025
Allswell raises $1.3M pre-seed round

Allswell announced a $1.3 million pre-seed round led by Amboy Street Ventures with participation from Seae Ventures' Unseen Capital, Techstars and others. Mid-Atlantic Permanente Medical Group is a limited partner in the Techstars fund. Proceeds are earmarked for expansion into more states, deeper digital and clinical offerings, and growth of the therapist network.

$1.3M source ↗

Jan 2025
Allswell expands from Maryland to Washington, DC and Virginia

After operating in Maryland, Allswell began accepting clients in Washington, DC and Virginia, covering the DMV region, and states more states are planned.

source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

Legal entities · 1

corporate structure
AllswellDelaware

▸Research sources · 8

primary sources listed

8 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Allswell do?
Allswell is a virtual, LGBTQ+-specialized therapy practice offering insurance-covered individual and group care in the DMV region.
Who founded Allswell?
Allswell was founded by Dawn Androphy, Connor Gordon in 2024.
Who are Allswell's investors?
Allswell's investors include Amboy Street Ventures, Seae Ventures, Techstars.
How much funding has Allswell raised?
Allswell has disclosed $6.8M raised across 1 of its 2 known rounds.
Where is Allswell headquartered?
Allswell is headquartered in San Francisco, US.