Birches Health

-51%

est. 2Y upside i

HealthcareSeries A

At Birches Health, we’re beating the online gambling epidemic with virtual therapy for gambling addiction from specialized clinicians. Our care is covered by insurance and state funding to ensure access to treatment for problem gamblers. We work with patients throughout their gambling addiction journey to improve clinical outcomes and reduce healthcare costs.

Rank

#3274

Sector

Digital Mental Health

Est. Liquidity

~4Y

Data Quality

Data: Low

Given the missing valuation data, estimated $30M entry valuation implies a high 13x revenue multiple with significant downside risk over 2 years.

Last updated: July 19, 2026

Bull (30%)-13%

Revenue grows to $5.4M with exit multiple at 6x (expanded due to IPO window), but dilution reduces upside. Implied exit value $32.2M, but entry valuation $30M yields slight loss after dilution.

Base (45%)-49%

Revenue reaches $5.4M with multiple compressing to 4x (in line with public peers). Dilution and preference overhang push downside to -48.5%.

Bear (25%)-100%

Exit multiple collapses to 2x, revenue stagnates below expectations. Implied exit value $10.7M below $20M liquidation preference, common stock worthless.

Est. time to liquidity~4.0 years

Preference Stack Risk

severe

Funding Intensity

866%

Total funding $20M vs estimated valuation $30M results in 67% preferred overhang, leaving minimal to common in many exits

Dilution Risk

high

With $2.3M revenue and likely cash burn, a raise within 24 months is probable, potentially diluting common by 20% or more

Secondary Liquidity

none

No secondary market implied valuation; fresh round in Sept 2025 but no public or private secondary marks available

Questions to Ask at the Interview

Strategic questions based on Birches Health's data — designed to show you've done your homework.

1
“How does Birches Health plan to achieve profitability given the high cost of therapy and insurance reimbursement cycles?”
2
“What is the roadmap for expanding beyond gambling addiction into other behavioral compulsions, and what is the expected revenue contribution?”
3
“Given the high preference stack, what is the timeline for a liquidity event and what is the typical common stock outcome in such scenarios?”

Community

Valuation Sentiment

Our model estimates -51% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.