Psychological well being platform Headway scores $125M, publicizes $1B valuation

0



Psychological well being platform Headway introduced it closed a $125 million Collection C funding spherical led by Spark Capital, boosting its valuation to greater than $1 billion.

Present traders a16z, Accel and Thrive participated within the spherical, in addition to new strategic traders led by Well being Care Service Company. 

Will Reed, normal companion at Spark Capital, will be a part of the corporate’s board of administrators.  

WHAT THEY DO

Headway’s platform connects sufferers to in-network therapists and personal observe therapists to insurance coverage firms.

By the corporate’s free software, customers enter their well being plan data and may search a community of therapists in-network. The platform additionally connects therapists to an insurance coverage panel and helps with reserving, billing and different backend duties.

The brand new funding will assist the corporate advance its expertise and its plans to develop the supply of its platform in all 50 states within the U.S. and the District of Columbia. The corporate additionally stated it’s constructing merchandise to assist suppliers work throughout state strains in 2024. 

“I based Headway after I couldn’t discover a therapist who accepted my insurance coverage–an issue hundreds of thousands of People face every year,” Andrew Adams, founder and CEO of Headway, stated in an announcement. “This funding will allow that nationwide enlargement and permit us to additional spend money on the partnerships and instruments that can assist suppliers develop their observe.”

MARKET SNAPSHOT  

Headway raised $70 million in Series B funding in 2021, simply six months after scoring $26 million in a Series A round

Different firms within the tech-enabled psychological well being area embody Meru Health, a digital psychological platform for workers; Happify Health, a platform for psychological well being and illness administration packages; meditation and psychological well being firm Headspace Health; and meditation app Calm, which final yr revealed a new mental health product supplied by conventional healthcare trade gamers like suppliers, payers and self-insured employers. 

About Author

Leave a Reply

Your email address will not be published. Required fields are marked *