Spring Health
What They Do
Spring Health is a complete global mental health solution for employers and health plans. By integrating products for members, providers and customers, Spring Health uniquely delivers personalized care for every individual - ranging from digital tools and meditation to coaching, therapy and medication - ensuring the right care at the right time.
The platform serves as an entry point to mental healthcare, connecting the users with medical expertise and insurance providers. To help ensure accurate diagnoses and effective treatments, the company uses AI and machine learning to draw lessons from extensive clinical expertise, covering the full behavioral health spectrum.
Each user is assigned a Care Navigator to guide them through their treatment, eliminating guesswork and ineffective interventions, leading to faster and better outcomes.
More than 20 million people worldwide have access to Spring Health. The platform works with leading employers, health plans and channel partners, including Adobe, Bumble, General Mills, Moda Health, Wellstar and Guardian, to drive cultural impact at scale.
Why Kinnevik Invested in Spring Health
Mental health is one of the most pressing healthcare challenges of our time, with one in five US adults currently living with a mental health condition. Meanwhile, access to care remains limited due to provider shortages and increasing waiting times.
From day one, we have been deeply impressed by Spring Health’s tech-driven and science-based, personalized approach to mental healthcare. Their continuous investment in clinical innovation and technology enhances the experience for both patients and providers.
Under the leadership of its founders April Koh and Dr. Adam Chekroud, the company is delivering exceptional results:
- 68 percent of users experience reduced anxiety and depression
- 70 percent of users achieve significant progress in fewer sessions
To continue to create value, Spring Health focuses on:
- Continuing to advance member, provider and customer experience with investments in cutting-edge AI and technology
- Growing their global footprint through strategic partnerships and product expansion
Key Information
- A complete mental health solution for employers and health plans
- More than 20m people worldwide have access to Spring Health
- Key customers include Adobe, Bumble, General Mills, Moda Health, Wellstar and Guardian
- Has grown at an almost 160% compounded annual growth rate during 2021-2024, reaching >USD 400m in LTM revenue in September 2024
- Cash flow positive in the fourth quarter of 2024
News in the Quarter
- The results of a three-and-a-half-year peer-reviewed study published in the JAMA Network
- Open showed that Spring Health’s customers achieved an ROI of 1.9x
- Introduced an industry-first ROI performance guarantee, assuring employers of financial returns on their mental health investments or offering money back
- Launched a neurodiversity hub, enabling organizations to offer specialized care, coaching and resources for neurodivergent employees and their families
