With the new funding, Modern Health has a valuation of $1.17 billion.

The investment was led by Founders Fund. Its existing investors include Battery Ventures, Kleiner Perkins Caufield & Byers and Felicis Ventures. The company, which says it has raised $172 million to date, was valued at $750 million after a financing round last year, according to PitchBook.

Modern Health is a mental health benefits platform for employers offering a suite of products that cover the full spectrum of mental well-being needs through evidence-based technology and professional support from a coach or therapist. The platform gives employees access to the emotional care they need while helping employers improve worker productivity, retention, and limit costs from over-prescribed, in-person therapy.