Spring Health

Spring Health

Personalized mental health solutions for employers

About Spring Health

Simplify's Rating
Why Spring Health is rated
B+
Rated C on Competitive Edge
Rated A on Growth Potential
Rated A on Rating Differentiation

Industries

Healthcare

Company Size

1,001-5,000

Company Stage

Series E

Total Funding

$465M

Headquarters

New York City, null

Founded

2016

Overview

Spring Health provides personalized mental health solutions aimed at improving employee well-being for organizations and health plans. Their main offering, Precision Mental Healthcare, tailors mental health support to individual needs, which can include digital resources, meditation, therapy, and medication. Users begin with a brief assessment that leads to a customized care plan and a list of appropriate providers from Spring Health's network. The platform is user-friendly, allowing users to schedule appointments or access wellness exercises easily. A unique feature is the Care Navigator, which offers clinical guidance and emotional support throughout the mental health journey. Spring Health differentiates itself by focusing on personalized care and serving employers and health plans, charging them for access to their comprehensive platform and services.

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Simplify's Take

What believers are saying

  • Spring Health's $100M funding round supports global expansion and increased access to care.
  • The neurodiversity hub enhances inclusivity, supporting neurodivergent employees and their families.
  • Spring Health's ROI guarantee attracts employers seeking cost-effective mental health solutions.

What critics are saying

  • Increased competition from startups may dilute Spring Health's market share.
  • Privacy concerns over AI use in mental health could harm Spring Health's reputation.
  • Economic downturns may reduce budgets for employer-sponsored mental health programs.

What makes Spring Health unique

  • Spring Health offers Precision Mental Healthcare for personalized mental health solutions.
  • The company provides a neurodiversity hub for tailored support to neurodivergent employees.
  • Spring Health guarantees ROI for employers, ensuring financial returns on mental health investments.

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Funding

Total Funding

$465M

Above

Industry Average

Funded Over

7 Rounds

Notable Investors:
Series E funding typically includes additional rounds after Series D if the company needs more capital. The business is usually stable, and these rounds are typically used for further expansion or to address market challenges.
Series E Funding Comparison
Meet Average

Industry standards

$100M
$245M
Stripe
$250M
Reddit
$1250M
Epic Games
$1500M
Airbnb

Benefits

Retirement benefits

Paid time off

Healthcare benefits

Insurance benefits

Work-life benefits

Mental health benefits

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

1%

2 year growth

0%
Yahoo Finance
Mar 19th, 2025
Allstate India Enhances Mental Health Resources for Employees

BANGALORE, India, March 19, 2025 /PRNewswire/ - To further enhance employee well-being, Allstate India recently announced its partnership with Spring Health, a global leader in mental health and wellness solutions.

PR Newswire
Mar 18th, 2025
Spring Health Launches Neurodiversity Hub To Support Employees, Families, And Leaders

New offering delivers tailored mental health care and resources for neurodivergent individuals in the workplace.NEW YORK, March 18, 2025 /PRNewswire/ -- Spring Health is making mental health support more inclusive with the launch of its neurodiversity hub—a dedicated space within its platform that offers specialized care, coaching, and resources for neurodivergent employees, their families, and workplace leaders.With 1 in 5 people identifying as neurodivergent, workplaces need better solutions to help every employee succeed. Traditional mental health benefits often fall short, leaving employees without the tailored support they need. Spring Health's neurodiversity hub closes this gap by providing easy, personalized access to expert care and education—helping companies build more inclusive, high-performing teams."Every workplace has neurodivergent employees, but most lack the right support to help them thrive," said Dr. Adam Chekroud, co-founder of Spring Health. "This hub makes it simple for individuals, parents, and managers to access the care and tools they need to succeed."Spring Health's neurodiversity hub provides:Specialized Therapists & Coaches – Quick access to providers specializing in ADHD, autism, executive functioning, and more. Members can see a provider in one day or less.– Quick access to providers specializing in ADHD, autism, executive functioning, and more

PR Newswire
Mar 13th, 2025
Spring Health Delivers Long-Term Cost Savings For Mental Health Benefits

Employers now get a money-back guarantee on mental health investments, backed by the largest and longest ROI study in the industry.NEW YORK, March 13, 2025 /PRNewswire/ -- Spring Health is raising the bar for employer-backed mental health benefits with its ROI performance guarantee—ensuring companies see increasing financial returns or get their money back*. This guarantee follows a landmark independent study from the Validation Institute , which confirms that Spring Health delivers long-term healthcare savings.Guaranteed ROI, Year Over YearSpring Health's performance guarantee sets a new industry standard, providing employers with measurable increasing multi-year financial accountability. Under this research-backed guarantee, companies can expect to see:Year 1: Cost neutrality—savings on healthcare claims match program costs.Year 2: 1.5x ROI—for every $1 spent, employers save at least $1.50 .spent, employers save at least. Year 3: 2x ROI—for every $1 spent, employers save at least $2 ."With medical trends expected to rise to the highest level in 13 years, CFOs are scrutinizing every dollar of spending, and they need proof that incremental investments will yield real return," said Dr. Adam Chekroud, Co-Founder and President of Spring Health. "Our commitment goes beyond delivering best-in-class technology and clinical care

PR Newswire
Feb 6th, 2025
Spring Health Study Published In Jama Network Open Demonstrates 1.9X Roi Of Employer-Sponsored Behavioral Health Benefits

Three-and-a-half-year study reveals overall health plan costs decrease by $190 for every $100 invested in mental health benefitsNEW YORK, Feb. 6, 2025 /PRNewswire/ -- Spring Health , the leading global mental health solution for employers and health plans, today unveiled data from a peer-reviewed study that validates the return on investment (ROI) of employer-sponsored mental health benefits. The study, published in JAMA Network Open , sets a new benchmark in the behavioral health space, and reveals that expanding access leads to substantial healthcare savings for both employers and health plans.The study supports the credibility of Spring Health's industry-first ROI performance guarantee, announced in 2024, which assures that each dollar spent on Spring Health's clinical services save more than a dollar in total healthcare costs.The study evaluated 13,990 participants from seven different employers who were eligible for Spring Health's employer-sponsored behavioral health benefit from November 2019 to May 2023. The findings underscore the financial value of providing timely access to behavioral health support–including rapid access to psychotherapy and medication management.Spring Health's study employed a gold-standard research methodology, leveraging information on over 150 health conditions to ensure an apples-to-apples comparison between program users and those who instead sought mental healthcare via their health plan. This rigorous approach was assessed and validated by JAMA Network Open's stringent peer-review process, which accepts only 12% of submissions.Key findings include:1.9x ROI: For every dollar spent, employers save nearly two dollars in health plan costs, providing $1,070 in net savings per participant in the first year.For every dollar spent, employers save nearly in health plan costs, providing in net savings per participant in the first year. Increased Access to Care: Behavioral health care utilization rose by 47%, with more employees receiving needed care earlier in the care continuum.Behavioral health care utilization rose by 47%, with more employees receiving needed care earlier in the care continuum

PR Newswire
Jan 13th, 2025
Spring Health Commits $500,000 To Provide Free Therapy For Those Impacted By The Los Angeles Wildfires

Spring Health's Wildfire Mental Health Support Program Offers Therapy and Community Resources to Navigate Loss, Trauma and UncertaintyNEW YORK, Jan. 13, 2025 /PRNewswire/ -- Spring Health , the leading global mental health solution for employers and health plans, today announced its Wildfire Mental Health Support Program, created to offer mental health support to individuals and families impacted by the Los Angeles wildfires. The company has committed $500,000 to the program, which includes free therapy sessions and community resources for each qualified participant. Los Angeles residents impacted or displaced by the fires are invited to apply and visit Spring Health's dedicated page here ."The Los Angeles wildfires have left countless individuals grappling with immense loss and trauma," said April Koh, CEO of Spring Health. "This program underscores our commitment to making high-quality mental health care accessible to those who need it most, when they need it most."The Wildfire Mental Health Support Program is designed to meet the urgent mental health needs of those affected, providing virtual therapy sessions with licensed mental health professionals to ensure accessibility for displaced individuals, first responders, and vulnerable populations. By addressing the emotional toll of natural disasters, Spring Health aims to empower survivors with the tools they need to rebuild and heal.Impacted residents of Los Angeles can apply for the program and access resources by visiting Spring Health's dedicated Wildfire Mental Health Support Program page here .About Spring HealthSpring Health is the leading, global behavioral health solution proven to change people's lives and deliver net-positive financial return for organizations

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