New York-based digital mental health startup Spring Health agreed to acquire Alma for an undisclosed amount. Founded in 2016, Spring Health has raised $470+ million in funding to date, according to the latest funding data from Startup Funding News.
Spring Health previously raised $100 million in a Series E funding round in July 2024. It is backed by global investment firms including Generation Investment Management, Kinnevik, the William K. Warren Foundation, RRE, Northzone, and Tiger Global.
The acquisition is expected to close in the second quarter of this year. Upon closing the transaction, Alma will operate as a business unit within Spring Health.
The combined entity (Spring Health + Alma) will serve approximately 170 million people across the U.S. through employers and health plan mental health benefits.
Spring Health serves leading employers, health plans, and channel partners, including Adobe, Bumble, Delta, General Mills, Highmark Health, Guardian, Target, The Coca-Cola Company, BlackRock, Microsoft, Pfizer, and Wawa.
Alma, a leading mental health startup, raised more than $220+ million in funding to date across several rounds. Their most recent and largest funding was a $130 million Series D round in August 2022, according to the latest funding data from Startup Funding News.
This acquisition merges two category leaders to address the most persistent challenges in mental health. Spring Health’s advanced technology and proven mental specialty health care capabilities, along with Alma’s national health plan relationships and robust provider infrastructure, will further deepen the value delivered for the entire mental health care ecosystem.