Freespira

Freespira

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Private Company

Total funding raised: $30M

Overview

Freespira is a commercial-stage digital therapeutics company offering a non-medication, device-based treatment for panic attacks and PTSD. Its FDA-cleared system addresses physiological dysregulation linked to these conditions by training users to normalize their breathing and CO2 sensitivity. The company has demonstrated strong clinical results, including high rates of patients remaining panic attack-free one year post-treatment, and is now expanding its reach to adolescents. Its business model focuses on B2B partnerships with payers and providers to drive adoption.

PsychiatryNeuroscience

Technology Platform

A digital therapeutic platform combining a disposable breathing sensor and tablet software that provides real-time biofeedback to normalize breathing rate and end-tidal CO2 levels, aimed at retraining the autonomic nervous system over a 28-day treatment period. It is paired with remote clinical support.

Funding History

2
Total raised:$30M
Series B$20M
Series A$10M

Opportunities

The massive and growing demand for mental health solutions, particularly non-pharmacological options, creates a significant tailwind.
Expansion into the adolescent market and potential future indications (e.g., generalized anxiety) can drive sustained growth.
The shift towards value-based care and demonstrated ROI in reducing high-cost healthcare utilization is a powerful lever for B2B sales to payers and employers.

Risk Factors

Key risks include slow adoption by insurers due to reimbursement challenges, intense competition in the digital mental health space, and the operational difficulty of scaling the high-touch care model efficiently.
Patient adherence to the prescribed protocol is also critical for achieving reported clinical outcomes.

Competitive Landscape

Freespira competes in the broad digital mental health market, which includes general meditation apps (Calm, Headspace), telehealth therapy platforms (BetterHelp, Talkspace), and other FDA-cleared digital therapeutics for mental health (e.g., Pear Therapeutics' reSET for SUD). Its primary differentiation is its FDA clearance for specific disorders, its focus on physiological dysregulation, and its structured, time-limited protocol with proven long-term outcomes.