Spring Health
Large employer mental health platform with $3.3B valuation; acquired Alma in May 2026 and tracked by PHD as a likely acquirer of pediatric behavioral assets.
New York, NY
2016
$370M+
Employer Benefits, Commercial Insurance
What They Do
Spring Health sells mental health benefits to employers through therapy, coaching, medication management, care navigation, and measurement-based matching technology. The company is not pediatric-native, but its scale and acquisition posture make it relevant to PHD's thesis that adult platforms may increasingly absorb youth-focused assets.
Competitive Position
Spring competes with Lyra Health, Headspace, Modern Health, and other enterprise behavioral-health platforms. Its relevance to PHD comes from capital scale, employer distribution, and the acquisition of Alma — the possibility that family or adolescent capabilities could be acquired into the platform rather than financed independently.
Funding Rounds
No funding rounds on record for this company.