Spring Health joined the Unicorn Club on April 16, 2021, marking its rise as one of the fastest-growing digital mental healthcare companies. Headquartered in New York City, New York, United States, the company provides tech-enabled mental health solutions for employers and health plans.
Its platform uses data-driven matching to connect individuals with the right level of care, from digital support to in-person therapy. It includes personalized care plans, on-demand wellness tools, and employee assistance programs, offering assessment, guidance, and access to a diverse network of providers.
Keep reading to learn how Spring Health became a $3.3B leader in mental healthcare innovation and employee wellness.
What Is Spring Health and What Does It Do?
Founded in 2016, Spring Health offers an AI-powered mental healthcare platform that personalizes treatment pathways for employees. The system combines data analytics, clinical expertise, and digital engagement tools to improve access and outcomes for mental health support.
The platform serves employers by integrating therapy, coaching, self-guided programs, and crisis management into a single, unified system. Through predictive modeling and a diverse network of licensed providers, Spring Health helps reduce absenteeism, improve retention, and foster healthier workplaces.
How Much Funding Has Spring Health Raised?
1. Series E Round
- Amount Raised: $35 million
- Date: July 31, 2024
- Valuation: $3.3 billion
- Lead Investors: EQUIAM, Generation Investment Management
- Purpose: Expand global operations, enhance AI capabilities, and develop new enterprise wellness tools
2. Earlier Rounds (Seed to Series D)
- Cumulative Funding: ~$468 million
- Key Investors: Northzone, Rethink Impact, Tiger Global, and others
- Purpose: Platform expansion, provider network growth, and new care models
Total Funding Raised: ~$503 million
Latest Funding Date: July 31, 2024
Latest Known Valuation: ~$3.3 billion
Employee Count: 806 (as of December 31, 2023)
Key Investors
1. EQUIAM
- Details: Investment firm focusing on high-growth private technology companies.
- Focus Areas: Digital health, SaaS, and AI platforms.
2. Generation Investment Management
- Details: Sustainability-driven investment firm co-founded by Al Gore, supporting long-term innovation.
- Focus Areas: Healthcare, mental wellness, and ESG-aligned technologies.
3. Tiger Global Management
- Details: Investment firm backing transformative technology companies across industries.
- Focus Areas: Digital health, SaaS, and HR technology.
4. Northzone
- Details: Early and growth-stage venture capital firm investing in global technology startups.
- Focus Areas: Healthtech, HRTech, and enterprise platforms.
Where Is Spring Health’s Headquarters?
Spring Health is headquartered in New York City, New York, United States, where it manages operations across clinical care, product innovation, and employer partnerships.
What’s Next for Spring Health?
Spring Health plans to scale its AI-enabled mental health infrastructure, integrating deeper personalization and global provider coverage. The company aims to enhance its digital therapy suite, expand partnerships with multinational employers, and advance clinical research in mental wellness outcomes.
As mental healthcare demand continues to rise, Spring Health is positioned to redefine how organizations deliver accessible, data-driven, and inclusive mental health support worldwide.
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