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Headway raises $70M to build network of mental health providers
Headway, a startup working to build a network of therapists covered by major insurers, raised $70 million in funding. The startup manages claims, credentialing and other administrative work for independent practices.
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Headway’s platform lets users search for in-network therapists. The company manages back-end paperwork and billing, and hires therapists as independent contractors. Photo credit: Headway
On the heels of a $26 million round last summer, mental health startup Headway raised another $70 million. The New York-based startup plans to use the funds as it continues to expand its network of therapists to new states. Recently, it added therapists in 10 states, including New Jersey, Florida, Texas and Illinois.
Headway raises $70M at a $750M valuation to help connect therapists with people and insurance schemes
Mental health, and how it is getting addressed, has been one of the major leitmotifs of the past year of pandemic living. COVID-19 not only has led to a lot of people getting ill or worse; it has increased isolation, economic uncertainty and led to a lot of other kinds of disappointments, and that all has had a knock-on effect on our collective and individual state of mind.
Today a startup called Headway, which has been working on building a better way for people to attend to themselves by way of a three-sided marketplace of sorts, by helping a person to find and afford a therapist via a free-to-use portal, by making it possible for those therapists to accept a wider range of insurance plans and by helping those insurance plans facilitate more therapy appointments for their patient networks is announcing a major round of funding on the heels of strong growth.
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