Spring Well being, which presents 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 current 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 circumstances after which obtain a listing of psychological well being suppliers to endure a scientific analysis. They then obtain a complete care plan with personalised suggestions from their care supplier and might entry Moments, the corporate’s on-demand digital workout routines.
The corporate touts that it presents equitable and inclusive care and that its clients embrace Goal, Microsoft, Delta Airways and J.P. Morgan Chase.
“Spring Well being began as an educational analysis challenge that sought to show know-how might assist caregivers get folks more healthy quicker. Our continued development trajectory means extra persons are getting the care they want and this new funding permits us to double down on our strengths, enhance entry, scale our impression, and proceed to ship even larger ROI to employers,” April Koh, cofounder and CEO of Spring Well being, stated in a press release.
“I’m grateful to our traders for his or her continued help and to welcome a brand new associate in Technology, a company 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 imagine we’re on monitor to construct one of many world’s most respected corporations.”
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 offered psychological wellness steerage to folks by chats with therapists, social staff and parenting coaches, in addition to group help and academic content material.
Earlier this 12 months, the corporate introduced that it could broaden its platform to be accessible in over 30 languages by the top of the 12 months, and it launched Group Care, an initiative to advance psychological well being fairness by addressing social determinants of well being like unsafe dwelling circumstances, meals insecurity and childcare challenges.
Different corporations providing employers psychological well being platforms embrace 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.
