New York-based digital mental health therapy 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 Digital Health Funding.
Spring Health previously raised $100 million in a Series E 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.
According to the official press release, the acquisition is expected to close in the second quarter of 2026. Upon closing the transaction, Alma will operate as a business unit within Spring Health.
The merged entity (Spring Health + Alma) will serve approximately 170 million people across the U.S. through employers and health plan mental health benefits.
New York-based 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.
Digital Health companies have secured more than $170 billion in venture capital funding to date, according to the latest funding data from Digital Health Funding. Alma, a leading mental health startup, raised more than $220+ million in funding to date across several rounds. Their most recent funding round was a $130 million Series D round in August 2022, according to the latest funding data from Digital Health Funding.
“Spring Health has helped millions of people access high quality care through their employers and health plans with industry-leading clinical outcomes, but there is more work to do.” said April Koh, co-founder and CEO of Spring Health. “By bringing our companies together, we can deliver care that is accessible, effective, and connected at unprecedented scale.”
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.