Headway has raised $325.5 million across six funding rounds, most recently securing $100 million in its Series D round in July 2024, led by Spark Capital at a valuation of $2.3 billion. Founded in 2019, the New York–based company connects patients with in-network therapists while reducing administrative burdens for providers. Earlier backers include Accel, Thrive Capital, and Andreessen Horowitz. The Series D round is focused on expanding into Medicare Advantage and Medicaid, broadening access to affordable mental health care.

How Much Did Headway Raise? Funding & Key Investors

Headway has raised $325.5 million, most recently closing a $100 million Series D at a $2.3 billion valuation. The company helps people find affordable mental health care by connecting them with therapists who accept their insurance. Keep reading for a closer look at Headway's funding journey and the backers supporting its growth.

What Is Headway?

Founded in 2019 and based in New York, Headway is a mental health platform built to make therapy easier to find and afford. For patients, the service works like a trusted guide: it matches them with in-network providers and streamlines booking, whether they prefer virtual or in-person sessions.\

For therapists, the platform takes on the heavy lifting of running a practice—handling insurance billing, credentialing, and scheduling—so they can focus on care. This "win-win" approach has made Headway stand out in a crowded digital health space.

The company was founded by Andrew Adams, Dan Ross, Jake Sussman, and Kevin Chan and has since expanded to a team of over 500 employees. Its rise reflects a larger trend in U.S. healthcare: the urgent need for solutions that lower costs and expand access to mental health providers.

How Much Funding Has Headway Raised?

Headway's fundraising milestones show how the company has steadily scaled its impact.

Pre-Seed (Sept 2018): Amount undisclosed. Early backing helped test the idea and build the first product.
Seed (July 2019): $4.5M: Led by Accel. Funds went toward building the platform's first version and onboarding therapists.
Series A (Nov 2020): $26M: Led by Google Ventures and Thrive Capital, and allowed Headway to expand its engineering team and strengthen its product during a time when demand for remote therapy was surging.
Series B (May 2021): $70M: Led by Andreessen Horowitz. Supported nationwide scaling of the therapist network and operational growth.
Series C (Oct 2023): $125M: Led by Spark Capital. Used to expand services, enter new markets, and invest in the infrastructure needed for long-term stability.
Series D (July 2024): $100M: Again led by Spark Capital, this round valued the company at $2.3 billion. The focus: expanding into Medicare Advantage and Medicaid, opening the door to care for millions of new patients.

Total Raised: $325.5M

Latest Valuation: $2.3B

Key Investors

Headway's investor group includes firms that have backed many of today's most recognized technology and consumer brands.

Spark Capital: Known for Twitter, Slack, and Oculus. Spark's repeat investments demonstrate its conviction in Headway's long-term role in the healthcare industry.
Thrive Capital – Investor in Instagram, Stripe, and Robinhood. Thrive's support highlights confidence in Headway's ability to scale software-driven healthcare access.
Accel – An early investor in Facebook, Dropbox, and Spotify. Accel's seed check validated Headway's model before it had proven traction.
Andreessen Horowitz (a16z) – Backer of Airbnb, GitHub, and Lyft. Their Series B involvement provided the resources to expand Headway's reach across the U.S.
Forerunner Ventures – Known for Glossier and Warby Parker. Their consumer-focused lens underscores the importance of making Headway user-friendly and approachable.

Where Is Headway's Headquarters?

Headway's headquarters are in New York, New York. Being in a central hub for both healthcare and technology provides access to investors, partners, and a diverse talent pool.

What's Next for Headway?

Headway's next chapter is about scale and inclusion. Its entry into Medicare Advantage and Medicaid means reaching over 100 million Americans—from seniors to low-income families—who often face the steepest barriers to mental health care.

The Series D funding will be used to strengthen infrastructure, expand the platform's provider base, and ensure compliance with federal programs. At the same time, the company must manage challenges, including navigating complex regulations, ensuring timely reimbursements, and maintaining patient care at the center of its expansion.

With a valuation of $2.3 billion, Headway has flexibility for further growth, whether through new funding or a potential IPO. Success will depend on how well it balances accessibility, compliance, and quality of care in an evolving healthcare landscape.

Use TexAu to Supercharge Prospecting

Sales professionals can use TexAu to automate lead generation, extract funding data, and gather other vital business insights in minutes. With TexAu’s powerful workflows, you can streamline prospecting and save hours of manual research.

Headway