Pear Therapeutics
Digital therapeuticsUSA
New to Unitard
💀 Dead / Bankrupt
Peak $1.6 BillionToday
~-98%
from peak
- 🦄Became a unicorn2021
- 📈Peak valuation$1.6 Billion ’21
- 💔Became a UnitardApr 2023
- 💸Last valuationWiped out
🔥 Raised & burned
$264M
Total raised
$73.8K/day
Burned · 9.8y alive
Funding: VCNewsDaily/Crunchbase
Current status
Chapter 11 (Apr 2023)
The rise & fall
7 moments · 2013–2023The key moments, with employee sentiment along the way.
2013
2013
Founded to prescribe software
Corey McCann's pitch: FDA-cleared apps as medicine for conditions like addiction and insomnia.
Wikipedia
2017
2017
FDA clears reSET
Pear's addiction-treatment app becomes the first prescription digital therapeutic authorized in the US.
FDA
Dec 2021
Dec 2021
The peak: a $1.6B SPAC debut$1.6B
Goes public via SPAC in December 2021 — unicorn status and a listing in the same stroke.
SEC filing
2022
2022
Payers won't pay
Insurers decline to reimburse prescription software at scale; the cash runs down.
SEC filing
2021–23
From the inside · Glassdoor reviews, 2021–23
Glassdoor reviews sketched true believers watching the commercial engine stall: insiders called leadership too junior and thin on both pharma and software experience, and more than one concluded Pear went public too early and simply ran out of money.
Apr 2023
Apr 2023
Chapter 11 — joins the Unitard Club 💔
Sixteen months after its $1.6B listing, Pear files and puts its FDA-cleared products up for auction.
Court filing
2023
2023
The auction: ~$6M for everything
Its products and assets fetch roughly $6M combined — after $264M raised.
Court filing
$1.57Bof peak value erased · 10 years
💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.
How it happened
Pear Therapeutics pioneered FDA-cleared prescription digital therapeutics for conditions like addiction and insomnia, going public via SPAC in late 2021 at roughly a $1.6B valuation. It could not get payers to reimburse its software at scale, filed for Chapter 11 in April 2023, and auctioned off its products.
Source: SEC filings; SPAC Dec 2021
Where they went
- Corey McCannFounder, President & CEOCo-Founder and Managing Partner at T.Rx Capital
Current roles as self-reported on LinkedIn, retrieved 2026-08-21. See our methodology.
