TLDR: Slingshot AI, a mental health startup co-founded by Casper’s Neil Parikh, officially launched ‘Ash,’ an AI-powered therapy chatbot on July 22, 2025. The company has secured a total of $93 million in funding, including a recent Series A round co-led by Radical Ventures and Forerunner Ventures, with continued support from Andreessen Horowitz. Ash aims to bridge the significant gap in mental healthcare access by providing accessible, AI-driven support, having already been tested by over 50,000 users.
On July 22, 2025, Slingshot AI, an innovative mental health startup, officially launched its groundbreaking AI-powered therapy chatbot named ‘Ash.’ This launch marks a significant step in addressing the global mental health crisis by leveraging artificial intelligence to expand access to care. The company, co-founded by Neil Parikh, known for his success with the mattress company Casper, and Daniel Cahn, an experienced machine learning engineer, has garnered substantial financial backing, totaling $93 million in funding.
Slingshot AI recently announced a follow-on Series A funding round, co-led by Radical Ventures and Forerunner Ventures, with continued participation from existing investors including Andreessen Horowitz (a16z) and Menlo Ventures. This latest investment brings the company’s total capital raised to $93 million, underscoring investor confidence in its mission and technology. Earlier, in August 2024, Slingshot AI secured approximately $30 million in seed funding, led by Andreessen Horowitz.
The core of Slingshot AI’s offering is Ash, an AI therapy bot designed to replicate the experience of talking to a human therapist. The company’s founders identified a critical need in mental healthcare, noting that there are often ‘over 10,000 people who want care for every therapist that’s out there.’ Their vision is to utilize AI to help people in a new way, making mental health support more accessible.
Ash is built upon what Slingshot AI describes as the ‘world’s first foundation model for psychology.’ Unlike general-purpose AI models, Ash is specifically engineered to foster user autonomy, competence, and connection. It integrates evidence-based therapeutic techniques such such as Cognitive Behavioral Therapy (CBT), Dialectical Behavior Therapy (DBT), and Acceptance and Commitment Therapy (ACT) to provide personalized and adaptive guidance. The chatbot has undergone extensive beta testing, with over 50,000 users providing feedback that has helped refine its capabilities.
Investors have expressed strong support for Slingshot AI’s approach. Daisy Wolf, a partner at Andreessen Horowitz, commented on the founders’ capabilities, stating, ‘They have the experience and know how to pull this off. They’ve been absolute magnets for talent, and the caliber of people they’ve been able to recruit has continued to blow us away.’
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Recognizing potential concerns regarding safety and privacy in AI-driven mental health, Slingshot AI is proactively addressing these issues by collaborating with a clinical advisory board. A key safety feature of Ash is its ability to redirect users experiencing a serious crisis to human professionals, ensuring that critical situations are handled appropriately. Initially, Ash will be available to users for free, with plans to introduce a subscription model in the future, priced similarly to popular streaming services like Netflix.
