Spring Health鈥檚 Valuation Jumps To $3.3B After $100M Series E

Mental health funding has been as hot as the weather the past few weeks.

became the latest startup in the sector to raise big, locking up a $100 million Series E at a聽 $3.3 billion valuation 鈥� a 65% increase from the $2 billion valuation it received in 2021 after a $190 million in Series C.

The new round was led by , with participation from existing investors including , , and . Founded in 2016, the company has raised nearly $467 million, .

New York-based Spring Health partners with employers to provide mental health services to their employees. The company also uses artificial intelligence to help members get care faster.

鈥淥ur continued growth trajectory means more people are getting the care they need and this new funding allows us to double down on our strengths, increase access, scale our impact and continue to deliver even greater ROI to employers,” said co-founder and CEO in a .

Mental health funding ticking up

Just in the past several weeks, mental health has seen its biggest raises of the year. Along with Spring Health, New York-based , a psychiatric care startup, $130 million in mid-June. The round consisted of a combination of Series C equity financing led by , and debt financing from .

Then just last week, mental healthcare platform closed a $100 million Series D led by . The new funding values the company at $2.3 billion 鈥� a 130% increase just from October when it raised a $125 million Series C at a $1 billion valuation.

While well off its 2021 high, mental health funding has remained relatively stable this year.