Spring Health was founded in 2016 by April Koh and Adam Chekroud. In 2021, Koh told Forbes that she would like to take the company public via IPO. As of June 2023, the company remains private.
Spring Health is a digital mental health platform that uses AI to match patients with providers. In 2022 the company acquired Weldon, a family-focused wellness platform. Spring Health has raised more than more than $370 million in venture capital funding from investors including Kinnevik, Tiger Global, GingerBread Capital, Operator Partners, Northzone, Rethink Impact, Work-Bench, SemperVirens, Able Partners, and True Capital. The company was valued at $2.5 billion following a $71 million fundraising round in April 2023.
These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Funding Date | Share Class | Amount Raised | Price per Share | Post-Money Valuation | Key Investors | |
---|---|---|---|---|---|---|
07/31/2024 | Series E | $100MM | $xx.xx | $3.3B | Generation Investment Management, Kinnevik, William K Warren Foundation, RRE, Northzone | |
Price per Share
$xx.xx
Shares Outstanding
1,473,477
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Generation Investment Management, Kinnevik, William K Warren Foundation, RRE, Northzone
|
||||||
04/12/2023 | Series D | $70MM | $xx.xx | $2.5B | Undisclosed Investors | |
Price per Share
$xx.xx
Shares Outstanding
1,276,066
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Undisclosed Investors
|
||||||
09/16/2021 | Series C | $150MM | $xx.xx | $1.99B | Kinnevik, Guardian Life, Tiger Global, Northzone, RRE Ventures, Rethink Impact, Work-Bench, William K Warren Foundation, SemperVirens, Able Partners, True Capital Ventures | |
Price per Share
$xx.xx
Shares Outstanding
3,267,653
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Kinnevik, Guardian Life, Tiger Global, Northzone, RRE Ventures, Rethink Impact, Work-Bench, William K Warren Foundation, SemperVirens, Able Partners, True Capital Ventures
|
||||||
11/20/2020 | Series A-2 | $20.25MM | $xx.xx | $85.84MM | Northzone, Equinox Ventures, Able Partners, Rethink Impact, Work-Bench, RRE, Sempervirens, William K. Warren Foundation | |
Price per Share
$xx.xx
Shares Outstanding
7,068,697
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Northzone, Equinox Ventures, Able Partners, Rethink Impact, Work-Bench, RRE, Sempervirens, William K. Warren Foundation
|
||||||
01/27/2020 | Series A-1 | $1.5MM | $xx.xx | $29.96MM | GingerBread Capital, Operator Partners, Northzone, Rethink Impact, William K. Warren Foundation, Work-Bench, SemperVirens, Able Partners, True Capital, Kyle Lowry, Breanna Stewart | |
Price per Share
$xx.xx
Shares Outstanding
1,047,215
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
GingerBread Capital, Operator Partners, Northzone, Rethink Impact, William K. Warren Foundation, Work-Bench, SemperVirens, Able Partners, True Capital, Kyle Lowry, Breanna Stewart
|
||||||
07/12/2018 | Series Seed-4 | $6.22MM | $xx.xx | $27.29MM | Rethink Impact, Work-Bench, BBG Ventures, The Partnership Fund for New York City, RRE Ventures, William K. Warren Foundation | |
Price per Share
$xx.xx
Shares Outstanding
5,447,058
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Rethink Impact, Work-Bench, BBG Ventures, The Partnership Fund for New York City, RRE Ventures, William K. Warren Foundation
|
||||||
04/10/2017 | Series Seed-3 | $419,527 | $xx.xx | $8.43MM | William K. Warren Foundation, Kevin Ryan, Business Insider, Nomad Health, MongoDB., RRE Ventures, North Sound Ventures, Saddlefire Ventures, Rough Draft Ventures, General Catalyst Partners | |
Price per Share
$xx.xx
Shares Outstanding
483,940
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
William K. Warren Foundation, Kevin Ryan, Business Insider, Nomad Health, MongoDB., RRE Ventures, North Sound Ventures, Saddlefire Ventures, Rough Draft Ventures, General Catalyst Partners
|
||||||
04/10/2017 | Series Seed-2 | $24,999 | $xx.xx | $8.43MM | William K. Warren Foundation, Kevin Ryan, Business Insider, Nomad Health, MongoDB., RRE Ventures, North Sound Ventures, Saddlefire Ventures, Rough Draft Ventures, General Catalyst Partners | |
Price per Share
$xx.xx
Shares Outstanding
32,043
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
William K. Warren Foundation, Kevin Ryan, Business Insider, Nomad Health, MongoDB., RRE Ventures, North Sound Ventures, Saddlefire Ventures, Rough Draft Ventures, General Catalyst Partners
|
||||||
04/10/2017 | Series Seed-1 | $1.66MM | $xx.xx | $8.43MM | William K. Warren Foundation, Kevin Ryan, Business Insider, Nomad Health, MongoDB., RRE Ventures, North Sound Ventures, Saddlefire Ventures, Rough Draft Ventures, General Catalyst Partners | |
Price per Share
$xx.xx
Shares Outstanding
2,400,805
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
William K. Warren Foundation, Kevin Ryan, Business Insider, Nomad Health, MongoDB., RRE Ventures, North Sound Ventures, Saddlefire Ventures, Rough Draft Ventures, General Catalyst Partners
|