Headway aims to transform mental healthcare access through an integrated software platform. Cofounders Andrew Adams and Jake Sussman launched the company in 2017 after struggling to find therapists accepting insurance in New York City. Today, Headway streamlines patients, providers, and insurance companies to simplify appointments, claims, and coverage.
With over $200 million raised from leading investors like a16z and GV, Headway now powers 500,000+ appointments monthly as it pursues expanded reach. As Headway grows its team of 500-1,000, the company is working within complex industry dynamics like healthcare regulations and fragmented existing systems. However, by putting providers and patients first, Headway hopes to improve access and affordability of therapy nationwide.
Headway faces two major risks. First is heavy competition from established players like Lyra Health that already have significant coverage and relationships in the mental health care industry. As a newer entrant, Headway has to compete for providers and customers in a crowded market. Second is lack of product differentiation from other startups offering widened access to therapy. This also contributes to high customer acquisition costs as individuals may not recognize their own need for therapy.
2017
Founded
1k+
Employees
Series D
Stage
$2.3B
Latest Valuation
$200-400M
Total Funding
Jul 12 2024
Last Fundraise
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