Funding round
Spring Health Series B
Spring Health, which works in mental health benefits consulting in New York, raised $76M in a Series B round announced on 18 Nov 2020, led by Tiger Global. 10 firms took part. It is Spring Health's third venture round on record; the one before was a Series A in Jan 2020.
$76M
Amount raised
Not disclosed
Post-money valuation
10
Investors
1 lead
Valuation
What this round says about the price
Spring Health did not disclose a valuation in this round. It came 10 months after Spring Health's Series A. It is 16% of the $464M Spring Health has raised in the venture rounds on record. Spring Health raised again 10 months later: a Series C round of $190M in Sep 2021, at $2.00B 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 this round 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
Tiger Global led the round with 9 other firms.
Lead investor
- Tiger Global new investor
Also in the round
- backs 31 venture-backed companies new investor
- backs 79 venture-backed companies new investor
- backs 104 venture-backed companies new investor
- backs 38 venture-backed companies new investor
- William K. Warren Foundation new investor
- backs 35 venture-backed companies new investor
- backs 35 venture-backed companies new investor
- backs 24 venture-backed companies new investor
- backs 24 venture-backed companies 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
12 Series B rounds in Psychologists & Counseling Services within a year either side disclosed an amount; the median was $43M, and this round was 1.8 times the median. The closest in time, other companies' Series B rounds in Psychologists & Counseling Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Psychologists & Counseling Services | 2 Feb 2021 | $28M | not disclosed | Insight Partners |
| Psychologists & Counseling Services | 4 May 2021 | $70M | $750M | Andreessen Horowitz |
| Psychologists & Counseling Services | 12 May 2021 | $47M | not disclosed | EQT Ventures |
| Psychologists & Counseling Services | 25 May 2021 | $20M | not disclosed | Health Velocity Capital |
| Psychologists & Counseling Services | 20 May 2021 | $10M | not disclosed | Eight Roads |
| Cerebral Psychologists & Counseling Services | 10 Jun 2021 | $127M | $1.20B | Access Industries |
| Psychologists & Counseling Services | 16 Jun 2021 | $72M | not disclosed | GV |
| Psychologists & Counseling Services | 23 Sep 2021 | $38M | not disclosed | Industry Ventures |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Spring Health raise in its Series B round?
Spring Health raised $76M in its Series B round, announced in Nov 2020.
Who led Spring Health's Series B round?
Tiger Global led it, with Gingerbread Capital, Operator Partners, Northzone, Rethink Impact and William K. Warren Foundation and 4 more.
What was Spring Health's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Psychologists & Counseling Services?
12 Series B rounds in Psychologists & Counseling Services within a year either side disclosed an amount; the median was $43M, and this round was 1.8 times the median.
Did Spring Health raise again after this round?
Yes: a Series C round in Sep 2021 of $190M at $2.00B post-money.