Summarize this content material to 1000 phrases Psychological well being platform Headway introduced it closed a $125 million Sequence C funding spherical led by Spark Capital, boosting its valuation to greater than $1 billion.
Current traders a16z, Accel and Thrive participated within the spherical, in addition to new strategic traders led by Well being Care Service Company.
Will Reed, normal companion at Spark Capital, will be a part of the corporate’s board of administrators.
WHAT THEY DO
Headway’s platform connects sufferers to in-network therapists and personal observe therapists to insurance coverage corporations.
By means of the corporate’s free software, customers enter their well being plan info and might search a community of therapists in-network. The platform additionally connects therapists to an insurance coverage panel and helps with reserving, billing and different backend duties.
The brand new funding will assist the corporate advance its expertise and its plans to broaden the supply of its platform in all 50 states within the U.S. and the District of Columbia. The corporate additionally stated it’s constructing merchandise to assist suppliers work throughout state strains in 2024.
“I based Headway after I couldn’t discover a therapist who accepted my insurance coverage–an issue thousands and thousands of People face annually,” Andrew Adams, founder and CEO of Headway, stated in an announcement. “This funding will allow that nationwide enlargement and permit us to additional put money into the partnerships and instruments that can assist suppliers develop their observe.”
Headway raised $70 million in Sequence B funding in 2021, simply six months after scoring $26 million in a Sequence A spherical.
Different corporations within the tech-enabled psychological well being house embrace Meru Well being, a digital psychological platform for workers; Happify Well being, a platform for psychological well being and illness administration applications; meditation and psychological well being firm Headspace Well being; and meditation app Calm, which final yr revealed a brand new psychological well being product supplied via conventional healthcare trade gamers like suppliers, payers and self-insured employers.
Psychological well being platform Headway scores $125M, publicizes $1B valuation
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