Digital behavioral health benefits company Spring Health has raised $71M in a new funding round, with a valuation of $2.5B.
Spring Health collaborates with employers and health plans to offer digital support, meditation exercises, coaching, therapy, and medication.
- The new funding round comes less than two years after the company closed a $190M Series C funding round, bringing the total raised to more than $370M.
- The names of the investors contributing to this new round have not been released, but existing investors increased their ownership stake.
- Spring Health has expanded through M&A, including acquiring family wellness-focused startup Weldon and adding more family-focused behavioral health services.
- Digital behavioral health funding has dipped over the last year, with $2.1B in 2022 compared to $4.8B in 2021.
- Historically, B2B behavioral health startups have successfully caught investor attention, with other examples such as Lyra Health and Modern Health raising significant funding.
