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Headway Raises $100 Million Led by Spark Capital, Valuation Doubles to $2.3 Billion Amid Expansion

Jul 23, 2024, 03:44 PM

Mental health startup Headway announced on Tuesday that it has raised $100 million in a late-stage funding round led by venture capital firm Spark Capital. This investment more than doubled Headway's valuation to $2.3 billion. The company, which aims to improve access to mental healthcare, has built the largest provider network in the United States, helping individuals get the right care from therapists covered by insurance. Headway is also expanding its services into Massachusetts and Medicaid, addressing the issue that over 70% of therapists do not accept insurance. Other investors in this round include Andreessen Horowitz, Accel, and Thrive Capital. This investment marks five years since Headway's original seed funding.