New York-based psychological well being platform Headway introduced it has acquired $100 million in Collection D financing, greater than doubling its valuation to $2.3 billion.
Spark Capital led the spherical, with participation from present traders a16z, Thrive Capital and Accel, in addition to new investor Forerunner Ventures.
The corporate additionally introduced plans to develop providers to people with Medicare Benefit and Medicaid insurance coverage, in addition to different business plans.
what it may possibly do
By means of Headway’s platform, customers enter their well being plan data and seek for on-line and personal observe therapists.
The platform additionally connects therapists with insurance coverage teams and assists with reserving, billing and different back-end duties.
Headway will use the funds to speed up product improvement to streamline non-public observe operations for clinicians, together with constructing instruments to expedite Medicare and Medicaid eligibility timelines and compliance obligations.
Will Reed, basic associate at Spark Capital and a member of Headway’s board of administrators, stated in an announcement: “The corporate is uniquely positioned to deliver healthcare suppliers, sufferers and payers collectively and combine a decentralized system, Spark Capital is happy to additional help its mission and progress.
market Overview
in line with Rock Well being’s Digital Well being Financing Report for the First Half of 2024 launched earlier this month confirmed that psychological well being topped the listing of essentially the most funded medical indications in digital well being within the first half of this yr, elevating $682 million.
Headway’s newest funding comes a yr after the corporate closed a enterprise. A $125 million Collection C spherical of financing put it among the many unicorns.
Firm elevating A $70 million Collection B spherical shall be secured in 2021, six months after elevating $26 million in Collection A funding.
In December, Headway introduced its growth to all 50 states and the District of Columbia, pushed by partnerships with Evernorth Well being Companies, Blue Cross Blue Defend of Massachusetts and Blue Cross Blue Defend of Texas.
Different corporations providing digital psychological well being providers embody on-line remedy corporations BetterHelp, pediatric digital behavioral well being firm Brightline, teletherapy firm Talkspace and digital psychological well being supplier Iris Telehealth.
