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Headway raises $70M to get valuated at $750M

Headway offers a free-to-use portal that helps connect therapists with people as well as insurance schemes. The startup has been working to build an efficient means for people to attend to themselves in a better way. us 70m series 750mlundentechcrunch. The platform offered by the company makes it possible for the therapist to accept a wider range of insurance plans. Furthermore, it helps insurance plans facilitate more therapy appointments for their patient networks.

The company has announced a major round of funding on the heels of strong recent growth. The pandemic led to an increase in isolation, financial uncertainty and many other issues that ultimately caused mental health problems. This is why, it is being addressed more frequently post-pandemic. headway 70m series 750mlundentechcrunch

The startup has been valuated at $750 million and raised a sum of $70 million in Series B funding. The company is planning to continue using the fund to expand its platform with more partnerships. Just last year, Headway raised an amount of $26 million and claims to have registered around 1800 therapists only in the New York area. The number of therapists is now totaling more than 3,000.  However, its network not just covers NYC, but also places like New Jersey, Florida, North Carolina, Georgia, Michigan, and others.

Not just this, the platform has recorded more than 2,000 patients joining each month. So far, it has helped book 300,000 appointments. The average appointments recorded each month is around 30,000. Even the overall revenue of the startup has grown nine-fold. The company’s approach of creating a vertical search engine for therapists instead of building a back-end system is what makes Headway different in this genre. 

This is aimed at helping the therapists grow their business by making it easier for them to accept insurance coverage. The business is said to have come directly out of the experiences faced by one of the startup’s co-founders.