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.
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