Austin, Texas – June 29, 2023 – Heading Health, an insurance-based mental healthcare provider specializing in treating patients with depression and trauma, today announced that it has raised $4.5 million in Series A funding. The round was led by Gron Ventures and Jam Fund, with participation from other undisclosed investors.
The funding will be used to scale Heading’s operations and expand its reach to more patients in need. The company plans to open new locations in Dallas and Houston in 2023, and it will also invest in its care delivery and analytics platform.
“A segregated and one-dimensional mental health system has failed patients, many of who wait too long to experience care that offers real and lasting relief,” said Simon Tankel, CEO and Founder of Heading Health. “We’re proud to have the support of like-minded investors who believe this needs to change. Heading’s comprehensive, patient-first approach is supercharged for outcomes – faster. Personalized, combination-service care plans under one roof and accessible through insurance plans, rapidly improve the quality of life for our patients and their loved ones.”
Heading is a tech-enabled mental health care provider that urgently drives toward optimal outcomes for patients experiencing severe depression and trauma. The company prioritizes interventions with the highest probability of clinical outcomes, such as Spravato®, ketamine, and TMS as well as MDMA and psilocybin if approved. Heading clinicians monitor and integrate the latest research with real-time patient measurements to lower the total cost of care, delivering value to health plan partners and broad access to those seeking the highest quality affordable care.
Heading drives patient outcomes through proprietary pathways incorporating psychotherapy, psychiatry, and nutrition together with interventional modalities, with plans for psychedelic therapeutics in the approval pipeline. With recent technology hire Maxim Osipov holding a Ph.D. in Computational Psychiatry, Heading’s team are industry veterans in clear-minded approaches to effective mental healthcare that prioritizes impact for those who need it most.
The mental health industry is growing rapidly, with venture capitalists investing billions of dollars in startups each year. Heading is one of a number of companies that are using technology to improve access to mental healthcare and deliver better outcomes for patients.
Other recent funding rounds for mental health startups include:
- Cerebral, a telehealth mental health provider, raised $390 million in Series C funding in May 2023.
- Mindstrong Health, a mental health software company, raised $130 million in Series D funding in April 2023.
- Headspace Health, a digital mental health company, raised $100 million in Series D funding in March 2023.
These funding rounds reflect the growing demand for mental healthcare and the increasing investment in technology-enabled solutions. Heading is well-positioned to capitalize on this trend, and its Series A funding will help the company expand its reach and deliver its innovative approach to mental healthcare to more patients in need.
Deal Table for Heading Health
| Key People | Investors | Amount Invested | Sector | Funding Round |
|---|---|---|---|---|
| Simon Tankel, CEO | Gron Ventures, Jam Fund, undisclosed investors | $4.5M | Mental Health | Series A |
