Inside Headway: From 2017 to Now Into a $223 million business
Startup Type:
Headquarter: New York City, USA
Current Status: Active (private; operations in 15+ states in the US)
Founders: Andrew Adams, Kevin Chan, Dan Ross, Jeremy Bluvol
Founded Year: 2017
Investors: Accel, Thrive Capital, Andreessen Horowitz
Funding Raised: $223 million
What Is the business model of Headway?
Healthcare startup building a network of therapists and mental health providers that accept insurance, offering a platform for easy booking and billing; it earns via fees from facilitating visits and insurance claims
How Headway got started?
Founded in 2017 to address the difficulty of finding mental health care covered by insurance, the team built a marketplace that connects patients with therapists who handle insurance through Headway’s system, simplifying access to in-network therapy
what growth strategy has Headway followed?
Expanded by partnering with major insurance carriers and using a concierge-like approach to bring therapists onto the platform, growing rapidly across states as teletherapy demand surged and securing large funding rounds to enter new markets
what are the top products/features of Headway
Headway therapist marketplace, insurance billing software for providers, patient scheduling and matching service
what was the biggest challenge faced by Headway?
Tackling fragmentation in the insurance and mental health industries, needing to sign up thousands of therapists and navigate varying insurance billing systems in each state, all while ensuring quality care and outcomes