Spring Health

Challenger

AI mental health benefits platform. $3.3B valuation. 50M+ lives. Raised $460M+. Acquiring Alma (Jan 2026). Founded 2016, NYC. Potential IPO candidate 2026. Private.

Mental Health Benefits & AI Care Matching
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Updated April 2026

Company Overview

About Spring Health

Spring Health is a global mental health technology company founded in 2016 by CEO April Koh and President Adam Chekroud, headquartered in New York City. Raised over $460M including a $100M Series E (July 2024) led by Generation Investment Management at $3.3B valuation. April Koh became the youngest woman to lead a multibillion-dollar startup at 29.

Business Model & Competitive Advantage

Its Precision Mental Healthcare uses clinically validated AI to match individuals with the right care — therapy, psychiatry, coaching, or digital tools — in 30+ languages across 200+ countries. Serves 50M+ lives globally through employer and health plan partnerships, competing with Lyra Health and Headspace.

Competitive Landscape 2025–2026

In November 2025, expanded to serve health plans nationwide (first major expansion beyond employers). January 2026: announced Alma acquisition, projecting 10M mental health visits in 2026. PitchBook identified Spring Health as a potential 2026 IPO candidate.

Revenue
$3300M
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Key Differentiators

Strong Challenger

Spring Health is an established challenger with significant market presence and competitive offerings in Healthcare Tech.

Enterprise Scale

With $3300M in revenue, Spring Health operates at enterprise scale with proven market validation.

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