Funding round
Spring Health Seed
Spring Health, which works in mental health benefits consulting in New York, raised $6.0M in a Seed round announced on 12 Jul 2018, led by Rethink Impact. 18 firms took part. It is Spring Health's first venture round on record.
$6.0M
Amount raised
Not disclosed
Post-money valuation
18
Investors
1 lead
Valuation
What this round says about the price
Spring Health did not disclose a valuation in this round. It is Spring Health's first venture round on record, 2 years after it was founded in 2016. It is 1.3% of the $464M Spring Health has raised in the venture rounds on record. Spring Health raised again 18 months later: a Series A round of $22M in Jan 2020. Its next priced round, a Series C in Sep 2021, valued it at $2.00B.
Spring Health's funding rounds
Spring Health has 6 venture rounds on record. This one is highlighted.
- Seed this round 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 12 Apr 2023 $70M$2.50B post-money
- Series E 31 Jul 2024, led by Generation Investment Management $100M$3.30B post-money
Investors
Who put money in
Rethink Impact led the round with 17 other firms.
Lead investor
- backs 38 venture-backed companies new investor
Also in the round
- backs 35 venture-backed companies new investor
- backs 21 venture-backed companies new investor
- backs 17 venture-backed companies new investor
- backs 68 venture-backed companies new investor
- William K. Warren Foundation new investor
- backs 35 venture-backed companies new investor
- Bain Capital Ventures backs 220 venture-backed companies new investor
- Glade Brook backs 30 venture-backed companies new investor
- Kinnevik backs 55 venture-backed companies new investor
- backs 104 venture-backed companies new investor
- Oyster Ventures new investor
- backs 94 venture-backed companies new investor
- Sapphire Ventures backs 148 venture-backed companies new investor
- Signal Peak Ventures new investor
- Soma Capital backs 206 venture-backed companies new investor
- Tiger Global backs 391 venture-backed companies new investor
- Venture Highway new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
7 Seed rounds in Psychologists & Counseling Services within a year either side disclosed an amount; the median was $2.9M, and this round was 2.1 times the median. The closest in time, other companies' Seed rounds in Psychologists & Counseling Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Psychologists & Counseling Services | 1 Jun 2018 | $2.9M | not disclosed | AlbionVC |
| Psychologists & Counseling Services | 15 Jun 2018 | $2.4M | not disclosed | Afore Capital |
| Psychologists & Counseling Services | 17 Oct 2018 | $4.5M | not disclosed | First Round |
| Psychologists & Counseling Services | 19 Apr 2018 | $350K | not disclosed | not named |
| Psychologists & Counseling Services | 1 Jan 2019 | $3.2M | not disclosed | Global Founders Capital |
| Psychologists & Counseling Services | 1 Aug 2017 | $1.3M | not disclosed | not named |
| Psychologists & Counseling Services | 10 Jul 2019 | $4.5M | not disclosed | Accel |
Sources
Where this comes from
Reported by 1 source. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Spring Health raise in its Seed round?
Spring Health raised $6.0M in its Seed round, announced in Jul 2018.
Who led Spring Health's Seed round?
Rethink Impact led it, with Work-Bench, BBG Ventures, Partnership Fund for New York City, RRE and William K. Warren Foundation and 12 more.
What was Spring Health's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Psychologists & Counseling Services?
7 Seed rounds in Psychologists & Counseling Services within a year either side disclosed an amount; the median was $2.9M, and this round was 2.1 times the median.
Did Spring Health raise again after this round?
Yes: a Series A round in Jan 2020 of $22M.