Business Insider broke the news that Slingshot AI, building large language models for behavioral health, raised about $30 million in a round led by Andreessen Horowitz, valuing the company at more than $100 million. Investor demand was strong enough that Menlo Ventures did a fast-follow shortly after, reportedly lifting the valuation to $220 million. The piece notes the founders' deep ties in the venture world: co-founder Daniel Reid Cahn is the brother of Sequoia Capital partner David Cahn, and co-founder Neil Parikh started the mattress brand Casper. Based in New York and London, Slingshot launched in May 2024 with Ash, an AI counselor users can talk to or type with at any time, and that remembers past conversations to help them work toward their goals. Business Insider frames the raise as part of investors' rush to back AI in mental healthcare, a US market it pegs at roughly $115 billion.