Spring Well being, which affords AI-enabled digital psychological healthcare and navigation providers, raised $100 million in a Sequence E funding spherical, elevating its valuation to $3.3 billion.
Technology Funding Administration led the spherical, which included participation from present traders RRE, William Ok. Warren Basis, Northzone and Kinnevik.
WHAT IT DOES
The New York-based firm works with employers and well being plans to attach people with digital psychological well being providers.
Members take an evaluation that screens for 12 situations after which obtain an inventory of psychological well being suppliers to endure a medical analysis. They then obtain a complete care plan with customized suggestions from their care supplier and may entry Moments, the corporate’s on-demand digital workouts.
The corporate touts that it affords equitable and inclusive care and that its prospects embody Goal, Microsoft, Delta Airways and J.P. Morgan Chase.
“Spring Well being began as an educational analysis venture that sought to show know-how may assist caregivers get folks more healthy quicker. Our continued development trajectory means extra individuals are getting the care they want and this new funding permits us to double down on our strengths, improve entry, scale our impression, and proceed to ship even higher ROI to employers,” April Koh, cofounder and CEO of Spring Well being, mentioned in an announcement.
“I’m grateful to our traders for his or her continued assist and to welcome a brand new accomplice in Technology, a corporation that believes increasing entry to psychological well being will affect world and generational change in human habits. By offering world-class psychological healthcare and lowering general employer spend on healthcare, we consider we’re on monitor to construct one of many world’s Most worthy firms.”
MARKET SNAPSHOT
Spring Well being raised $71 million in April 2023, two years after securing $190 million in Sequence C funding.
In 2022, the corporate acquired Weldon, which supplied psychological wellness steering to folks by chats with therapists, social employees and parenting coaches, in addition to group assist and academic content material.
Earlier this yr, the corporate introduced that it could develop its platform to be out there in over 30 languages by the tip of the yr, and it launched Neighborhood Care, an initiative to advance psychological well being fairness by addressing social determinants of well being like unsafe residing situations, meals insecurity and childcare challenges.
Different firms providing employers psychological well being platforms embody insurer Cigna’s well being providers subsidiary Evernorth, stress and wellness app Calm, digital psychological well being firm Headspace, and employer-focused digital psychological well being supplier Lyra Well being.
Discussion about this post