Funding round
Spring Health Growth
Reported as "Growth Equity"
Spring Health, which works in mental health benefits consulting in New York, raised $70M in a Growth round announced on 12 Apr 2023, at a $2.50B post-money valuation. It is Spring Health's fifth venture round on record; the one before was a Series C in Sep 2021.
$70M
Amount raised
$2.50B
Post-money valuation
$2.43B pre-money
1.3x
Step-up from the Series C
$2.00B in Sep 2021
2.8%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Spring Health at $2.50B after the new money, 1.3 times the $2.00B of its Series C (Sep 2021). The $70M bought investors about 2.8% of the company. It came 19 months after Spring Health's Series C. It is 15% of the $464M Spring Health has raised in the venture rounds on record. Spring Health raised again 15 months later: a Series E round of $100M in Jul 2024, at $3.30B post-money.
Spring Health's funding rounds
Spring Health has 6 venture rounds on record. This one is highlighted.
- Seed 12 Jul 2018, led by Rethink Impact $6.0M
- Series A 1 Jan 2020, led by Northzone $22M
- Series B 18 Nov 2020, led by Tiger Global $76M
- Series C 16 Sep 2021, led by Kinnevik $190M$2.00B post-money
- Growth this round 12 Apr 2023 $70M$2.50B post-money
- Series E 31 Jul 2024, led by Generation Investment Management $100M$3.30B post-money
Comparable rounds
How it compares
The closest in time, other companies' Growth rounds in Psychologists & Counseling Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Psychologists & Counseling Services | 28 Jun 2023 | $115M | not disclosed | General Atlantic |
| Psychologists & Counseling Services | 22 Jun 2023 | $5.5M | not disclosed | Molten Ventures |
| Psychologists & Counseling Services | 15 Aug 2023 | undisclosed | not disclosed | not named |
| Psychologists & Counseling Services | 31 Oct 2022 | $45M | not disclosed | Heritage Group |
| Psychologists & Counseling Services | 16 May 2022 | undisclosed | not disclosed | Frontline Healthcare Partners |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Spring Health raise in its Growth round?
Spring Health raised $70M in its Growth round, announced in Apr 2023.
What was Spring Health's valuation at the Growth round?
$2.50B post-money ($2.43B pre-money).
Did Spring Health raise again after this round?
Yes: a Series E round in Jul 2024 of $100M at $3.30B post-money.