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Headway

Mental Health Tech
Segments:
Telepsychiatry/Teletherapy Platforms
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Product stage:
Growth
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Headway is a New York-based online therapy navigator which helps individuals to find mental health therapists who accept payments from the patient’s health insurance company. It also provides administrative support for onboarding therapists who do not yet accept insurance. The company has partnerships with many insurers including Aetna, United, and Cigna. The company also claims that it can reduce patient costs by 81%. The company charges a commission from insurers but it does not charge patients for matching them with an insurance-covered therapist or from therapists for enhancing their reach. In October 2022, the company expanded its operations into California and noted that the company carries out 2.5 million appointments annually across the US and can provide an appointment to first-time joiners in an average of 5.9 days. As of October 2023, Headway had 26,000 providers participating in-network with 19 insurance plans.

Key customers and partnerships

In July 2022, the company partnered with Blue Shield North Carolina (Blue Cross NC) to expand access to mental healthcare in North Carolina. This partnership was an expansion of the companies’ collaboration in May 2022, which enabled Blue Cross NC users to identify providers via a dedicated page on Headway’s platform.

Funding and financials

In October 2023, Headway raised USD 125 million in Series C funding led by Spark Capita, valuing the company at USD 1 billion. The funds were allocated towards expanding its network and increasing marketing efforts to help providers acquire more patients.

Mental Health Tech

Mental Health Tech

Key stats
Featured companies
189
Total funding (USD)
11.0 Bn
Total addressable market (USD)
94.3 Bn
Key competitors
 
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Product Overview
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Company profile
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Recent Updates

Funding
Oct 5, 2023
Headway raises USD 125 million in Series C funding
Mental Health Tech
Product updates
Oct 20, 2022
Headway expands its operations into California
Mental Health Tech
Partnerships
Jul 13, 2022
Headway and Blue Cross NC partner to expand mental health access
Mental Health Tech

Company Brief


HQ location:
114 5th Ave Fl 2 New York NY USA
Founded year:
2018
Employees:
101-250
Total Funding:
USD 225.5 million
Last Funding
USD 125.0 million, Oct 2023

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
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