Headway raises $70 million in a quest to connect therapists with people and insurance schemes

A startup named, Headway, has been working on creating a better way for people to be with themselves, by way of a three-sided marketplace, which helps a person to find and afford a therapist through a free-to-use portal. The portal makes it possible for those therapists to accept a large range of insurance plans, and by helping those insurance plans facilitate more therapy appointments for their network of patients. The startup has been gathering a large chunk of funding on the heels of strong growth.

Headway has raised $70 million till now. This money will be used to continuously enlarge its platform with more partnerships, more hiring for its team, and opening up in new regions, aiming to spread nationwide this year in the United States.

This round, a Series B, is being headed by Andreessen Horowitz, with Thrive, GV, and Accel also taking part, it has many big names connected to it: This Series B is coming in at a $750 million valuation.

The startup comes amidst a time when mental health as an issue has been one of the most recurrent issues in the past year of pandemic living. Covid-19 has not only led to a lot of people falling ill or worse, but it has also increased isolation, uncertain economic state, and led to a lot of other kinds of disappointments in people’s lives. All of this has had a knock-on effect on human’s collective and individual states of mind.

Headway’s approach is to not just create a vertical search portal for therapists, but it wants to create a back-end system to help those therapists grow their business by making it easier for them to accept insurance coverage. The idea of the startup comes from the first-hand experiences of one of the startup’s co-founders.