Pear Therapeutics

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. Glassdoor reviews sketch a mission-driven staff that believed in the products but watched commercialization stall: insiders repeatedly said leadership was too junior and thin on both pharma and software experience, and described successive layoffs and RIFs that dented morale, with staff faulting leadership for little transparency about the company's health. Several concluded the company went public too early and simply ran out of money.

Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.