How much did Level Therapy raise with this deck?

According to the catalogue facts, Level Therapy raised $650,800 in 2015 during its Seed stage. The deck itself does not state the amount raised or the terms of the round, which is common for decks shared publicly after a round closes.

What is the core product offering?

The product is a mobile-first mental health platform. Slide 6 highlights two primary technical features: a 'Matching Algorithm' to connect patients with the right providers and a 'HIPAA Compliant Video Platform' to facilitate remote therapy sessions securely.

Who is the target customer for Level Therapy?

Level Therapy utilizes a B2B (business-to-business) model. Slide 7 explicitly states, 'We sell to employers.' This strategy aims to integrate mental health services into corporate benefits packages rather than relying solely on direct-to-consumer marketing.

What traction did the company have at the time of the pitch?

Slide 8 shows significant early traction with 'Clients' including Teach For America and Stanford Medicine. It also lists a 'Pipeline' featuring the logos of Airbnb, Slack, and Dropbox, suggesting active sales conversations with major tech firms.

What are the biggest omissions in this pitch deck?

The deck is extremely sparse. It lacks a slide for unit economics (CAC/LTV), a detailed roadmap, a competitive analysis, and a specific financial ask. Additionally, the team slide provides names and titles but no professional history or prior successes.

Level Therapy Pitch Deck (2015): 10-Slide Seed Deck

See all 10 slides of the Level Therapy pitch deck — a 2015 Seed deck — with a slide-by-slide teardown of what the deck does well and where it falls short.

Level Therapy’s 2015 seed deck is a masterclass in minimalism, containing only 10 slides and very few words. The company successfully raised $650,800 by framing mental health as a massive, underserved market opportunity. The deck identifies a 43.7 million person problem where 60% never seek treatment, leading to a $193.2 billion economic impact. By positioning itself as a B2B solution selling directly to employers, Level Therapy leveraged high-profile logos like Teach For America and Stanford Medicine to build credibility. While the deck lacks traditional deep dives into unit economics, compe…

Key takeaways

The deck identifies a massive total addressable market of 43.7 million people on slide 2.
A critical pain point is highlighted on slide 3: 60% of those with mental health needs never seek treatment.
The economic cost of the problem is quantified at $193.2 billion on slide 4.
The business model is explicitly B2B, stated as 'We sell to employers' on slide 7.
Traction is demonstrated through high-authority clients like Stanford Medicine and Teach For America on slide 8.
The product relies on two core pillars: a matching algorithm and a HIPAA-compliant video platform (slide 6).
The deck omits a formal 'Ask' slide, financial projections, and a competitive landscape analysis.
The team slide (slide 5) features only two members, Dan Miller (CEO) and Coley Williams (CMO), without biographical text.

The Minimalist Approach to Mental Health Fundraising

The Level Therapy pitch deck from 2015 is a striking example of 'less is more.' In an era where many founders feel the need to pack 40 slides with data, Dan Miller and Coley Williams raised over $650,000 using just 10 slides, most of which contain fewer than ten words. This teardown examines how they used high-level market stats and brand association to overcome a lack of detailed financial reporting.

Slide 1: Title and Vision

The deck opens with a simple title slide: 'level therapy.' The subtitle, 'Moving therapy to balance your life,' sets a lifestyle-oriented tone rather than a clinical one. Notably, the contact information in the top right corner includes an AngelList link (angel.co/leveltherapy), which was a standard signal for seed-stage startups in 2015 to show they were active in the fundraising ecosystem.

Slides 2-4: The Macro Problem and Market Size

Level Therapy uses a three-slide sequence to establish the 'Why Now.' Slide 2 displays the number 43.7 Million over a world map. While the slide doesn't explicitly define this number, it represents the population of Americans experiencing mental illness in a given year. Slide 3 provides the critical friction point: 60% NEVER SEEK TREATMENT . This identifies the 'non-consumption' gap that the startup intends to fill.

Slide 4 attaches a dollar value to this neglect: $193.2 Billion . This figure represents the lost earnings and economic costs associated with serious mental illness. By leading with these three slides, the founders establish that the market is massive, the current system is failing, and the economic incentive to fix it is enormous. They aren't just selling 'better therapy'; they are selling a solution to a hundred-billion-dollar economic drain.

Slide 5: The Team

The team slide is exceptionally sparse. It features headshots of Dan Miller (CEO) and Coley Williams (CMO) . There are no bullet points regarding their background, education, or previous exits. In a seed round, the team is usually the most important factor. By omitting their resumes, the founders are likely relying on the verbal pitch to carry their credibility, or they assume the investor has already vetted their LinkedIn profiles via the AngelList link provided on every slide.

Slide 6: The Product Solution

Slide 6 introduces the mobile app interface. It highlights two core value propositions: a Matching Algorithm and a HIPAA Compliant Video Platform . The visual shows a smartphone with a 'Get Started' button and icons for 'Notes' and 'Resources.' This slide tells the investor that the product is not just a directory; it is a full-stack clinical tool that handles the connection, the session, and the administrative compliance required for healthcare.

Slide 7: Business Model

In one of the most direct slides in the deck, Slide 7 states: 'We sell to employers.' This is a pivotal strategic choice. Rather than fighting for individual consumers in a crowded App Store, Level Therapy positions itself as an enterprise benefit. This model typically offers lower churn and higher contract values, which is highly attractive to seed-stage investors looking for scalable B2B plays.

Slide 8: Traction and Social Proof

This is arguably the strongest slide in the deck. Under 'Clients,' it lists Teach For America and Stanford Medicine . Securing Stanford Medicine as a client provides immense clinical validation. Under 'Pipeline,' the deck shows logos for Airbnb, Slack, and Dropbox . Even if these were only in the early stages of negotiation, listing them alongside established clients suggests that the product has strong 'product-market fit' within the tech-forward employer segment.

Slides 9-10: The Big Vision and Closing

Slide 9 presents the 'North Star' metric or ambition: 'Largest mental health practice in the world.' This is a classic venture capital requirement—the 'billion-dollar vision.' It suggests that Level Therapy doesn't want to be a niche app; it wants to be the primary infrastructure for mental health delivery globally. Slide 10 closes with the logo and a person standing on a pier with arms outstretched, reinforcing the 'balance your life' theme from the first slide.

What Works in This Deck

Clarity of Mission: There is zero ambiguity about what this company does. They provide therapy via an app, and they sell it to companies. The lack of jargon makes the deck highly readable.

High-Signal Logos: The inclusion of Stanford Medicine (Slide 8) does more for the company's credibility than five slides of clinical data would. In healthcare, trust is the primary barrier to entry, and this logo solves that problem.

Economic Framing: By using the $193.2 billion figure (Slide 4), the founders move the conversation from 'wellness' to 'ROI.' Employers care about mental health because it affects the bottom line, and this deck speaks that language.

What Is Missing

The 'Ask': There is no slide detailing how much money is being raised, what the valuation cap is, or what the milestones for the next 18 months are. While this information is often omitted from 'teaser' decks, its absence in a full pitch deck is notable.

Competitive Landscape: In 2015, companies like Talkspace and BetterHelp were already gaining traction. This deck does not explain how Level Therapy differs from these incumbents or how it defends its 'Matching Algorithm' against them.

Unit Economics: There is no mention of the cost to acquire an employer (CAC), the average contract value (ACV), or the margin on therapy sessions. Investors usually want to see how the $193 billion market translates into a profitable unit of service.

What a Founder Should Copy

The 10-Slide Rule: Level Therapy proves that you don't need a massive deck to get a check. If your market is large and your traction is high-quality, brevity is your friend.

The 'Pipeline' Slide: If you are in the B2B space, showing which logos are in your sales funnel is a great way to demonstrate market demand before you have closed a dozen deals. However, ensure you can back up those logos with real data if asked during due diligence.

Focus on Compliance: For any health-tech founder, mentioning 'HIPAA Compliant' (Slide 6) is mandatory. Level Therapy makes it a headline feature, which reassures investors that the founders understand the regulatory hurdles of their industry.

Frequently asked questions

How much did Level Therapy raise with this deck?: According to the catalogue facts, Level Therapy raised $650,800 in 2015 during its Seed stage. The deck itself does not state the amount raised or the terms of the round, which is common for decks shared publicly after a round closes.
What is the core product offering?: The product is a mobile-first mental health platform. Slide 6 highlights two primary technical features: a 'Matching Algorithm' to connect patients with the right providers and a 'HIPAA Compliant Video Platform' to facilitate remote therapy sessions securely.
Who is the target customer for Level Therapy?: Level Therapy utilizes a B2B (business-to-business) model. Slide 7 explicitly states, 'We sell to employers.' This strategy aims to integrate mental health services into corporate benefits packages rather than relying solely on direct-to-consumer marketing.
What traction did the company have at the time of the pitch?: Slide 8 shows significant early traction with 'Clients' including Teach For America and Stanford Medicine. It also lists a 'Pipeline' featuring the logos of Airbnb, Slack, and Dropbox, suggesting active sales conversations with major tech firms.
What are the biggest omissions in this pitch deck?: The deck is extremely sparse. It lacks a slide for unit economics (CAC/LTV), a detailed roadmap, a competitive analysis, and a specific financial ask. Additionally, the team slide provides names and titles but no professional history or prior successes.

Cover slide of the Level Therapy pitch deck — Seed 2015 — Level Therapy pitch deck, slide 1 (2015)

Level Therapy pitch deck: the facts

Company: Level Therapy
Year: 2015
Stage: Seed
Slides: 10
Sector: Mental Health / HealthTech
Deck type: Seed Pitch Deck
Outcome: Raised $650,800
Headquarters: Not stated

Level Therapy pitch deck PDF

The full Level Therapy deck is embedded on this page and can be read slide by slide in the browser — no download or account required. Each slide is covered in the breakdown above.

What the Level Therapy pitch deck was used for

This deck is the **2015 seed pitch deck** of Level Therapy, a San‑Francisco‑based mobile telehealth platform providing video access to licensed mental‑health clinicians and digital treatment tools. It was used to raise a seed round that PitchDeckHunt reports at **$650,800** in 2015, at the **seed stage**, focused on addressing the large unmet need in mental‑health treatment through a B2B sales motion. At the time of the deck, the company positioned itself as a behavioral‑health mobile app integrating with hospitals, employers and other institutions, before later pursuing additional Reg CF/Reg D fundraising in 2017. The deck reportedly had about ten slides and emphasized market size and brand logos over detailed financial modeling.

Business model: Developer of a **mobile telehealth application** providing patients with treatment tools and video access to licensed mental‑health clinicians, delivering behavioral healthcare via real‑time video therapy sessions with licensed therapists.

Founded: 2015
Industry: Behavioral health / telehealth; classified as Other Healthcare Services.

Round: Seed stage for the 2015 raise associated with this deck, as noted by PitchDeckHunt, with the company described as generating revenue by the time of later seed financing.

Year: 2015 for the seed round associated with this deck, per PitchDeckHunt’s listing; subsequent offerings occurred in 2016–2018.

Raising: Separately from the 2015 seed raise, an SEC‑filed offering memorandum shows Level Therapy conducted a **Regulation CF and Regulation D combined offering of Crowd Notes** starting in 2017, seeking up to **$1,070,000** with a minimum closing amount of $150,000 and a Reg CF target of $100,000. The final amount raised under this offering is not specified in available documents.

Raised: PitchDeckHunt reports **$650,800** raised associated with this 2015 seed deck. PitchBook reports **$125,000** via an accelerator/incubator round in 2016 and a later seed round in 2018, for a total of roughly **$925,000**; however, it does not break out investors or specific amounts for the 2015 seed round.

Headquarters: San Francisco, California, United States (e.g., 814 Mission Street, San Francisco, CA 94103 noted as corporate office).

Total funding: Level Therapy has raised approximately **$925,000** across accelerators and seed financing according to PitchBook, plus a separate **Reg CF/Reg D combined offering of up to $1,070,000** launched in 2017 (amount ultimately closed not stated).

Use of funds as presented: The 2017 offering memorandum states that proceeds from the Crowd Notes offering would be used to support the development and scaling of Level Therapy’s mobile platform delivering real‑time video therapy and treatment tools, but does not provide a granular breakdown for the specific 2015 seed round.

What happened after the Level Therapy deck

Level Therapy used its 2015 seed pitch deck to raise approximately $650,800, then participated in an accelerator in 2016 and pursued a combined Reg CF/Reg D Crowd Note offering in 2017 before completing an additional seed round, with total reported funding of about $925,000; despite these financings, PitchBook records the company as out of business.

Company founded around 2015 and developed a mobile platform providing treatment tools and video access to licensed menta
Participated in an accelerator/incubator program in 2016, raising about $125,000 according to PitchBook.
Launched a combined **Regulation CF and Regulation D Crowd Note offering** in 2017, targeting up to $1,070,000 with a mi
Completed an additional seed round by January 2018, with PitchBook reporting total capital raised of approximately $925,
PitchBook now lists Level Therapy’s status as **out of business**, indicating the company ultimately ceased operations d

What the Level Therapy deck got right

Concise, high‑signal storytelling and design. The deck is described as **high‑signal and low‑word‑count**, suggesting a clean, visually focused presentation that quickly communicated the core story without overwhelming investors with text. This kind of concise design can make a complex healthcare narrative more approachable in early fundraising meetings.
Strong framing around a large, urgent mental‑health problem. Level Therapy’s pitch centered on the **massive gap in mental‑health treatment**, particularly for anxiety and depression disorders. By anchoring the deck in a widely recognized, high‑stakes problem, the company positioned itself within a large and urgent market, which likely resonated with investors.
Clear emphasis on market size and early validation. The 2015 seed deck reportedly emphasized **market size and brand logos** rather than dense financials. This focus on opportunity scale and social proof can be persuasive at seed, helping investors quickly see the upside and early validation before diving into detailed models.
Compelling B2B go‑to‑market positioning. External descriptions highlight a **B2B sales motion**, integrating Level Therapy’s platform with hospitals, employers and governments. Positioning the company as infrastructure for institutional mental‑health delivery goes beyond a simple consumer app narrative and can make the business feel more defensible and scalable.
Demonstrated fundraising effectiveness at seed stage. Despite its brevity, the deck is reported to have successfully supported a **$650,800 seed raise in 2015**. The ability to secure a sizable seed round with a concise deck indicates that the narrative, market framing, and perceived team credibility were strong enough to overcome the lack of detailed modeling.
Early entry into telehealth mental‑health with a clear product concept. The product concept—**mobile video access to licensed mental‑health clinicians and digital treatment tools**—aligns with structural shifts toward telehealth and remote care. Presenting this in 2015 positioned Level Therapy as an early mover in a space that would later see significant growth, which is attractive in venture narratives.

What could have been stronger

Very sparse textual detail and limited operational depth. Public information about the 2015 seed deck indicates it used a **high‑signal, low‑word‑count** approach with minimal detail, which likely limited how much it explained the product roadmap, unit economics, or operational plan; this can make it harder for investors to independently evaluate execution risk beyond the headline market gap.
Limited financial modeling and clarity on business economics. The deck reportedly prioritized **market size figures and brand logos** over detailed financial modeling. While this highlights opportunity and social proof, it also suggests that investors received relatively little clarity on expected revenue model, margins, and capital efficiency at seed stage.
B2B go‑to‑market without clearly evidenced traction. External descriptions emphasize a **B2B sales motion** (e.g., selling into hospitals, employers, governments) but do not reference specific contracted customers or pilots in the 2015 deck. Without visible traction or signed enterprise agreements in the deck, the B2B focus may have appeared aspirational rather than validated.
Under‑communicated product and regulatory strategy in a complex healthcare space. Later documents (e.g., the 2017 offering memorandum) describe Level Therapy as a mobile platform delivering therapy via real‑time sessions and treatment tools, but do not specify how the product evolved from the 2015 concept in this deck. The 2015 deck’s very low‑text style likely under‑communicated details such as clinician onboarding, pricing tiers, reimbursement strategy, and data integration, all of which are material for healthcare investors.

How an investor would read this deck

What draws attention

Size of the **unmet demand in mental‑health treatment**, particularly anxiety and depression, and the degree to which telehealth can capture latent demand at scale.
Evidence that Level Therapy’s **mobile platform and clinician network** can achieve high engagement and measurable outcomes compared to traditional therapy or other digital mental‑health tools.
Validation of the proposed **B2B sales motion** (e.g., contracts or pilots with hospitals, employers, or governments), given that enterprise sales cycles and reimbursement dynamics in healthcare are lengthy and complex.
Assessment of regulatory and compliance posture (HIPAA, licensure, clinical quality) for delivering video therapy across jurisdictions, and the cost of maintaining these standards.
Capital requirements for building and supporting a clinician network, maintaining the app, and acquiring patients, especially in a category with intensifying competition from other telehealth and digital‑health platforms.

Risks that stand out

Operating in **regulated healthcare** with telehealth therapy introduces substantial legal, compliance and clinical‑quality risk, and the sparse detail in the 2015 deck makes it difficult to fully assess whether these issues were adequately addressed at that time.
The deck’s emphasis on a **B2B sales motion**—with hospitals, employers and governments—poses significant execution risk due to long sales cycles and the need for strong evidence and reimbursement pathways, particularly for a young company at seed stage.
Limited presentation of **financial modeling and unit economics** in the 2015 deck means investors had to rely heavily on market‑size narratives rather than a clear path to sustainable margins and scalability.
The telehealth mental‑health market has become **highly competitive**, increasing the risk that Level Therapy’s early positioning (mobile app plus video access to clinicians) could be crowded by later entrants with more capital, making it harder to sustain differentiation.
PitchBook notes Level Therapy’s status as **out of business**, indicating that despite the seed raise and subsequent crowdfunding efforts, the company did not achieve long‑term viability; this outcome retroactively highlights execution, market, or financing risks that may not have been evident from

Questions this deck invites

What specific **customer segments** (e.g., large employers, health systems, payers) did Level Therapy target in 2015, and what signed contracts or pilots, if any, were in place at the time this seed deck was used?
How did Level Therapy’s **pricing model** work for both patients and institutional clients in 2015 (session pricing, subscription, reimbursement), and how did those economics compare to traditional therapy and other telehealth platforms?
What were the company’s **regulatory and clinical safeguards** at seed stage (e.g., therapist credentialing, HIPAA compliance, cross‑state licensure, clinical protocols) and how were these reflected, if at all, in the 2015 deck?
What **traction metrics** (MAUs, number of sessions, retention, clinician count) had Level Therapy achieved by the time of the 2015 seed fundraise, and how did those metrics influence the target raise size of approximately $650,800?
How did management plan to allocate the **2015 seed capital** among product development, clinician acquisition, enterprise sales efforts, and regulatory/compliance costs, given the later need to pursue additional crowdfunding and seed finan

What founders can take from the Level Therapy deck

A **high‑signal, low‑word‑count deck** can still support a successful seed raise when paired with a compelling macro narrative such as the large unmet need in mental‑health treatment; investors may accept lean detail if the problem, market size, and story are very strong.
Emphasizing **market size and recognizable logos** can be effective, but without parallel clarity on business model and unit economics, later investors and diligence may require more robust financial detail than this 2015 deck provided.
Explicitly articulating a **B2B sales motion** into hospitals, employers and governments helps position a mental‑health app as infrastructure rather than a direct‑to‑consumer wellness tool, but it requires subsequent evidence of traction to reduce perceived execution risk.
In regulated sectors like healthcare, pitch decks benefit from at least brief coverage of **regulatory, clinical and compliance strategy**, which appears under‑represented in the 2015 Level Therapy deck and likely became increasingly important as the company pursued later offerings.
Seed‑stage decks that succeed in raising capital may still be too minimal to serve later fundraising needs; Level Therapy’s subsequent Reg CF/Reg D and additional seed financing underscore the value of evolving pitch materials to include more detail on **financials, operations and risk management**
The company’s eventual "out of business" status, despite early funding, illustrates that a strong narrative and successful seed raise do not guarantee long‑term success; long‑term viability in digital mental health depends on **execution, differentiation, and navigating complex healthcare economics*

Level Therapy pitch deck: common questions

What does Level Therapy do?

Level Therapy is a **mobile telehealth platform for mental health**, offering patients video sessions with licensed clinicians and digital tools to manage anxiety, depression and other behavioral‑health needs. It connects users to therapists via an iOS app and positions itself as infrastructure for effective behavioral healthcare, integrating with institutions such as hospitals and employers.

How much did Level Therapy raise with this seed pitch deck?

PitchDeckHunt lists Level Therapy’s 2015 seed fundraise at **$650,800** raised using this deck. Separately, PitchBook reports Level Therapy has raised **$925,000** in total across an accelerator/incubator round in 2016 and a seed round in 2018, though those figures are aggregated across years and not limited to the 2015 raise. The 2017 SEC‑filed offering memorandum describes a Reg CF/Reg D combined offering of up to **$1,070,000** in Crowd Notes, with a minimum closing amount of $150,000, but does not state the final amount raised.

When was Level Therapy’s seed round associated with this deck?

PitchDeckHunt identifies the deck as a **2015 seed** pitch for Level Therapy and reports an amount raised of **$650,800**. PitchBook shows the company founded in 2015, with subsequent financing including a 2016 accelerator/ incubator round ($125,000) and a 2018 seed round, suggesting the 2015 seed raise represented an early institutional or angel round prior to later financings.

How does the 2017 crowdfunding offering relate to the 2015 seed round in this deck?

Level Therapy’s **Regulation Crowdfunding / Regulation D offering** in 2017 used **Crowd Notes**, targeting up to **$1,070,000** with a minimum closing amount of **$150,000** and a Reg CF target amount of $100,000. This later offering is structurally distinct from the 2015 seed round referenced by PitchDeckHunt, which is not described in that SEC memorandum but is reported as a conventional seed raise of $650,800.

Did this pitch deck successfully raise money, and what was the strategy?

PitchDeckHunt reports that the 2015 seed deck helped Level Therapy raise **$650,800** and notes the deck’s emphasis on the "massive gap in mental health treatment" and a **B2B sales motion** focused on market size and brand logos. PitchBook later classifies Level Therapy’s stage around its seed financing as "generating revenue" and places the company in Other Healthcare Services, suggesting some early commercial traction after the period of this deck.