# Headway

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/headway

- Industry: Healthcare IT
- Headquarters: New York, US
- Website: www.headway.co/
- Total disclosed funding: $326M
- Latest round: Series D (Jul 16, 2024)
- Investors on record: 9

## About

Based in New York, US, and founded in 2019, Therapymatch, Inc. doing business as Headway, is a mental healthcare specialist that provides free software that seamlessly connects patients, therapists, and insurance companies. The company was co-founded by Andrew Adams (CEO), Jake Sussman, Dan Ross, and Kevin Chan. In July 2024, Headway raised USD 100 million in series D funding led by Spark Capital, including Forerunner Ventures, Accel, Andreessen Horowitz, Global Founders Capital, and Thrive Capital. The series D funding values Headway at USD 2.07 billion post-money.

Headway provides a software-enabled network for creating a mental healthcare system that connects patients with insurance-accepting therapists, assisting therapists in expanding their practices and assisting patients in finding a therapist they can afford.

The company generates revenue by streamlining insurance acceptance for mental health providers and earning a commission from therapy sessions covered by insurance. Its revenue streams include commissions from insurance reimbursements, partnerships with health plans, and software-enabled services like credentialing, billing, and compliance support for therapists.

## Funding rounds

- Series D, Jul 16, 2024, $100M — Accel, Spark Capital, Forerunner Ventures, Andreessen Horowitz, Thrive Capital, Global Founders Capital
- Series C, Oct 4, 2023, $125M — Accel, Spark Capital, Andreessen Horowitz, Thrive Capital, Health Care Service Corporation
- Series B, May 4, 2021, $70M — Accel, GV, Andreessen Horowitz, Thrive Capital
- Series A, Jul 28, 2020, $26M — Accel, GV, IA Ventures, Thrive Capital, Global Founders Capital
- Seed, Jun 1, 2019, $4.5M — Accel

## Investors

- Accel (https://capitalatlas.ai/funds/accel) — Seed, Series A, Series B, Series C, Series D
- GV (https://capitalatlas.ai/funds/gv) — Series A, Series B
- IA Ventures (https://capitalatlas.ai/funds/ia-ventures) — Series A
- Thrive Capital (https://capitalatlas.ai/funds/thrive-capital) — Series A, Series B, Series C, Series D
- Global Founders Capital (https://capitalatlas.ai/funds/global-founders-capital) — Series A, Series D
- Andreessen Horowitz (https://capitalatlas.ai/funds/andreessen-horowitz) — Series B, Series C, Series D
- Spark Capital — Series C, Series D
- Health Care Service Corporation — Series C
- Forerunner Ventures (https://capitalatlas.ai/funds/forerunner-ventures) — Series D