Lantern

Lantern was a digital mental health startup established in 2012 by co-founder and CEO Alejandro Foung. The San Francisco-based company focused on providing accessible and affordable online programs to support emotional well-being. Its business model was primarily direct-to-consumer, with subscriptions costing about $49 per month, and it also pursued enterprise clients like universities and employers. Lantern's core product was a mobile and web application that utilized Cognitive Behavioral Therapy (CBT) techniques, developed in partnership with experts from Stanford University, Penn State University, and Washington University in St. Louis.

The platform's process began with a user assessment to identify needs related to stress, anxiety, or body image. Based on the results, users were guided through personalized daily exercises and practical strategies designed to help them restructure negative thoughts and behaviors. A key feature was access to a professional coach who provided support, feedback, and accountability throughout the 8-to-10-week programs. In a significant milestone, Lantern secured a $17 million Series A funding round in February 2016, led by healthcare giant UPMC. This partnership aimed to integrate Lantern's technology into clinical settings and expand its behavioral health programs.

Despite its promising approach and substantial backing, Lantern struggled to achieve a sustainable revenue model and scale its operations. The company found it difficult to balance its efforts across consumer, payer, and provider markets. After potential acquisition deals did not materialize, Lantern announced it was shutting down its commercial operations on August 1, 2018. Following the closure, the company's intellectual property and technology found new life. Its CBT-based therapies were licensed by companies like Omada Health and Spring Health, with former CEO Alejandro Foung joining Spring Health's board of advisors, ensuring the continuation of Lantern's mission to make mental health resources more accessible.

Keywords: digital mental health, cognitive behavioral therapy, online wellness, mental health app, emotional well-being, Alejandro Foung, UPMC partnership, online coaching, stress management, anxiety support, behavioral health platform, digital therapeutics, mental health subscription, venture capital, Stanford University, mental health startup, mobile health, telehealth, emotional wellness, health technology