New York-based mental health company providing innovative solutions for employers and health plans, Spring Health, has secured a $100 million Series E funding round, elevating the company’s valuation to $3.3 billion.
According to the Healthcare Technology Report, the funding round was spearheaded by Generation Investment Management and included participation from existing investors Kinnevik, RRE, William K. Warren Foundation, and Northzone.
Co-founded in 2016 by April Koh and Adam Chekroud, the platform leverages precision mental healthcare to pinpoint patients’ needs and deliver personalized service that matches them seamlessly.
Spring Health’s platform uses an assessment in combination with artificial intelligence and machine learning to understand patient’s conditions.
Based on the assessment, the patient is matched with a personalized plan that meets their needs. This allows employees to modernize their employee health benefits with a comprehensive and effective alternative.
Spring Health Mental Solution Platform
Spring Health Platform personalizes mental healthcare plans and allows users to schedule appointments with therapists in simple steps. It begins with a 3–5-minute online assessment to ascertain the patients’ needs.
After the assessment, the platform prides personalized recommendations based on personal goals and the result of the assessment. These include a list of curated healthcare providers on the company’s network.
With the recommendations, you can browse for the provider that best fits your preferences and get started with your personalized health plan.
Currently, the platform partners with over 450 employers and 27,000 partner groups, covering over 10 million people.
