- Mental health startup Headway raised $100 million in funding led by Spark Capital, pushing its valuation to $2.3 billion.
- Existing investors Thrive Capital, Accel, Andreessen Horowitz, and Global Founders Capital also participated in the round.
US-based mental health startup Headway has raised $100 million in a funding round led by Spark Capital, boosting the company's valuation to $2.3 billion. Existing investors Thrive Capital, Accel, Andreessen Horowitz, and Global Founders Capital also participated in the round.
In October 2023 Headway raised $125 million in a Series C funding round, also led by Spark Capital.
Last year, Bloomberg reported that the startup had secured around $100 million in a funding round, valued at over $1 billion. The same year, the startup announced its expansion to all 50 states and partnerships with over 25 insurance plans.
Chief Executive Officer, Andrew Adams founded Headway when he struggled to find a therapist who accepted his insurance. With over 500 employees, currently Headway has around 33,000 providers on its platform.
Headway's online platform links patients with mental health providers covered by their insurance. It also gives behavioral health providers free technology tools to help with paperwork. The company makes money by taking commissions from its partners like Evernorth, Cigna, and Blue Cross Blue Shield of Massachusetts.
Edited by Harshajit Sarmah
