Headway
Unicorn · $2.3BFounded 2018 · 5 known investors
Headway operates a US platform connecting patients, therapists and insurers so mental health care can be delivered in-network.
Also known as Headway Inc. (mental health)
Investors · 5
Valuation · disclosed
Disclosed eventsSource: SEC prospectus filings, and round valuations the company or its investors disclosed — follow each entry's link for the claim.
Company profile
researched Aug 2026Headway is a New York City-based company operating a platform that connects three stakeholders in mental health care: patients seeking therapy, licensed clinicians in private practice, and health insurance plans. The company's stated aim is to make it easier for patients to find a therapist covered by insurance and easier for therapists to accept insurance. On the provider side, Headway handles credentialing, onboarding, clinical training, scheduling, benefits verification, claim submission, billing and payments, with providers receiving guaranteed biweekly payments and credentialing with top plans in their state described as taking as little as 30 days (onboarding to first insurance clients described as 4-8 weeks) [1][2][6].
On the patient side, users select location, clinical concerns and insurance carrier, then browse providers filtered by specialty, location, gender, language and ethnicity, with upfront visibility into expected cost. Copays are described as usually under $30, compared with out-of-pocket costs often above $200 without coverage. Booking can be one-click, with care available within 48 hours and an average of fewer than six days from online booking to first appointment. Provider types include psychiatrists, psychologists, therapists, counselors and social workers, spanning specialized therapy and prescription medication management [2][6].
The company also operates support infrastructure for both sides of the marketplace, including an insurance-native electronic health record with AI-assisted note generation formatted for insurers, embedded telehealth, e-prescribing (powered by DrFirst), group-practice tooling, clinical documentation templates, and billing-compliance, audit and chart-review programs. Its help center documents credentialing policies by state, plan-specific programs (for example Florida Blue, BCBS TX, BCBS MN Crisis Response, Kaiser Permanente Hawaii, Independence Blue Cross virtual network), HIPAA/PHI handling and No Surprises Act policies [0][7].
Founding story
Founder and CEO Andrew Adams moved to New York City from California in 2015 and was unable to find a therapist who accepted his insurance; he has said roughly 70% of therapists do not accept insurance and that therapists would accept insurance if it were not so difficult administratively. He co-founded Headway to address access and affordability in mental health care. Contrary Research reports the company was founded in April 2019 by Adams (co-founder/CEO), Jake Sussman (co-founder, departed 2022), Dan Ross (Head of Ops, departed 2021) and Kevin Chan (co-founder and Head of Engineering, departed 2021), though the same source's profile header lists a founding date of January 2017; the company's own press release states it launched in 2019 [1][2][6][7].
Business model
Headway operates a three-sided marketplace between patients, independent mental health clinicians and payers. It contracts with health plans to place clinicians in-network, then absorbs the administrative work of insurance participation (credentialing, claims, billing, payments) on the clinician's behalf. Patients do not pay a fee to use the platform and pay only their copay; clinicians receive guaranteed biweekly payments from Headway [2][6].
Sources do not state Headway's pricing or fee structure directly. Patients pay no platform fee and pay only their insurance copay, while clinicians are paid by Headway on a biweekly basis, indicating revenue is derived from the payer/claims side of the marketplace. The company reported revenue more than doubling in the 12 months to July 2024 and said it had a clear line of sight to company-level profitability [1][6].
Traction
Reported milestones: 34,000 in-network clinicians and more than 40 commercial health plans across all 50 states and DC as of July 2024, up from 26,000 providers and 19 plans in October 2023; an average of more than 600,000 therapy appointments per month; revenue more than doubling year over year; and more than 70,000 providers having used the platform since launch as of March 2026. Contrary Research listed 723 employees as of its May 2023 update [1][2][6][7].
Latest developments
In March 2026 Headway announced the acquisition of the team behind AI company Tezi, integrating them into engineering and product work on responsible AI for patient and provider experience; Tezi co-founder Raghavendra Prabhu joined as VP of engineering. Earlier, the company expanded its EHR with AI-assisted notes and embedded telehealth. Following the July 2024 Series D, Headway targeted being live with Medicare Advantage in 51 markets by end of 2024 and launching Medicaid in 2025 [1][2][7].
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
Headway described itself in July 2024 as the largest mental health provider network in the US and was characterized by an investor as becoming a centralized platform for mental health care access and delivery. Contextual market data cited by Contrary Research include 1 in 5 US adults experiencing mental illness annually, 28% of affected adults unable to obtain needed treatment in 2023, and 1 in 4 people struggling to find an in-network therapist per a 2015 survey [2][6].
Headway positions its approach as building with therapists, patients and payers simultaneously rather than around any one of them, removing the administrative barriers that keep clinicians from accepting insurance rather than operating a cash-pay or employed-clinician model. Its EHR is described as insurance-native, with documentation and coding tooling oriented to payer requirements and audit risk [0][1][2][7].
Technology
The platform includes provider search and one-click online booking with upfront cost estimation and insurance eligibility verification, provider-facing tools for credentialing, scheduling, claims submission and payments, and SMS appointment reminders associated with a reported 50% decrease in missed appointments. Headway has built an insurance-native electronic health record with AI-assisted clinical notes generated from provider inputs and formatted for insurer requirements, an integrated telehealth product, a Scribe feature, chart notes for non-session encounters, and e-prescribing powered by DrFirst. The company said the Tezi team, experienced in systems where humans and AI work together, would be integrated into its engineering and product organization [0][6][7].
Go-to-market
Headway acquires clinicians directly, screening applicants through practice consultants and an online form, and relies heavily on word of mouth: over the 12 months to July 2024 more than half of new providers came from provider referrals. Patient acquisition occurs through direct online search and booking at headway.co and through referrals. Distribution also depends on payer partnerships, including agreements with commercial plans such as Cigna and Blues plans that supported nationwide coverage [1][2][6].
Three constituencies: patients seeking mental health care covered by insurance; licensed mental health clinicians in solo or group private practice (therapists, psychologists, psychiatrists, nurse practitioners, counselors, social workers); and health insurance plans, including commercial plans and, as of the 2024 expansion, Medicare Advantage and Medicaid populations such as seniors, low-income Americans and people with disabilities [1][2][6].
Geography
United States only, with operations in all 50 states and the District of Columbia; headquartered in New York City. Plan-specific programs span numerous regional markets including Florida, Texas, Minnesota, Hawaii, Arizona, Colorado, Ohio and Pennsylvania [0][1][2][7].
History
Headway launched its platform in 2019 and scaled first with commercial insurance plans. In October 2023 it raised a $125 million Series C, at which point it worked with 26,000 providers and 19 in-network insurance plans and was described as a new mental health unicorn. Nine months later, in July 2024, it announced a $100 million Series D at a $2.3 billion valuation, having grown to 34,000 providers and more than 40 commercial health plans across all 50 states and Washington, D.C., with total funding of more than $321 million. In September (per a March 2026 report) it expanded its EHR with AI-assisted notes and embedded telehealth, and in March 2026 it announced the acquisition of the team behind AI company Tezi, with Tezi co-founder Raghavendra Prabhu joining as vice president of engineering. By that point more than 70,000 providers had used the platform since its 2019 launch [1][2][7].
Risks & controversies
Headway's expansion into Medicare Advantage and Medicaid exposes it to more complex credentialing and stricter compliance requirements than commercial plans, per its CEO. Its help center documents ongoing billing-compliance exposure, including Headway-initiated billing and documentation reviews, audit record requests, chart reviews, scrutiny of 99205/99215 plus psychotherapy add-on coding, and a pause on 99215 plus psychotherapy add-on billing for Anthem Colorado and Ohio. A separate, unrelated company also called Headway (Headway Inc, an EdTech firm founded by Anton Pavlovsky in Cyprus/Ukraine) shares the name and is explicitly distinguished in press coverage [0][1][5].
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 6
launches, deals, and filingsHeadway announced it acquired the team behind AI company Tezi, integrating them into engineering and product development. Tezi co-founder Raghavendra Prabhu joined as vice president of engineering.
Headway announced expanded electronic health record features, including AI-assisted notes generated from provider inputs and formatted for insurers, plus embedded telehealth. A March 2026 article dates the announcement to September.
Headway announced plans to expand beyond commercial insurance into Medicare Advantage and Medicaid, expecting to be live with Medicare Advantage in 51 markets (all 50 states and DC) by the end of 2024 and to launch Medicaid in 2025.
Spark Capital led a $100 million Series D with participation from existing investors Thrive Capital, Accel and a16z, and new investor Forerunner Ventures, valuing the company at $2.3 billion, a 130% increase over the prior valuation. Will Reed of Spark Capital joined the board.
$100M source ↗
Headway partnered with Cigna and a Blues plan to expand to all 50 states, per Fierce Healthcare reporting referenced alongside the Series D announcement.
Company announced a $125 million Series C funding round; at the time it had 26,000 providers and 19 in-network insurance plans.
$125M source ↗
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 8
primary sources listed
- Headwayhelp.headway.co · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Headway do?
- Headway operates a US platform connecting patients, therapists and insurers so mental health care can be delivered in-network.
- Who are Headway's investors?
- Headway's investors include Andreessen Horowitz, Homebrew, Global Founders Capital, Spark Capital, The Fund.


