Spring Health Series E

Spring Health, a New York-based digital mental health startup, has successfully raised $100 million in Series E funding, increasing its valuation to $3.3 billion, a notable jump from $2.5 billion just 15 months ago. The funding round was led by Generation Investment Management, with participation from existing investors including Kinnevik and the William K Warren Foundation. Spring Health, which utilizes AI to match patients with mental health care providers, aims to expand its operations and reach more individuals, currently serving over 10 million people through partnerships with major employers like Microsoft and Delta Airlines. The company has raised a total of over $470 million since its inception in 2016, reflecting the increasing investor interest in the mental health sector. This funding boom comes amid a surge in mental health investment, with $682 million raised in 2024 alone, marking it as the highest funding segment in digital healthcare for the first half of the year. CEO April Koh emphasized that this new capital will enable the company to enhance access to mental health services and deliver substantial ROI for employers.