QLER Telehealth, a U.S. on-demand psychiatry company, raised $7.4 million in a Series B funding round.

The financing round was conducted by private equity firm MedEquity Capital with participation from Relevance Ventures.

In connection with the latest financing, MedEquity and Relevance Ventures will join QLER Telehealth’s board of directors.

QLER Telehealth will use the new capital to further the national buildout of its group of employed psychiatrists who partner with regional health systems across the country, to extend its growing team and partner success infrastructure.