Headspace, a pioneering digital healthcare company focused on mental health, has closed a $105 million senior debt facility with Oxford Finance, a leading specialty finance firm providing senior debt to healthcare and life sciences companies. The funding will be used to support the expansion of Headspace’s innovative mental health platform and enable the company to invest in areas where it sees market need.
Headspace is known for bringing meditation, mindfulness, and mental health support to the digital world. The company has helped millions of people around the world achieve better health and happiness through evidence-based tools offered through its direct-to-consumer app. In addition to serving individuals, Headspace works with over 4,000 employers across 200 countries to support the mental health and wellbeing of their employees. The company also partners with various health plans, including Cigna, and organizations like Accolade and Virgin Pulse.
“We are thrilled to partner with Headspace, a company at the forefront of revolutionizing care for mental health,” said Rohit Gandhi, senior director at Oxford Finance. “Its commitment to leveraging technology to scale mindfulness and mental health support aligns perfectly with Oxford’s mission of supporting innovative and impactful businesses working to improve healthcare.”
Russell Glass, CEO of Headspace, expressed excitement about the partnership with Oxford and the financing’s potential to expand their enterprise EAP offering and bring mental healthcare services to more health plans and consumers in the coming year.
Headquartered in Alexandria, Virginia, Oxford Finance has provided flexible financing solutions to over 700 life sciences and healthcare services companies worldwide. The firm has delivered senior secured loans totaling over $11 billion since its inception in 2002.
The funding from Oxford Finance will empower Headspace to continue its mission of making mental health support accessible to everyone, regardless of background or experience, and to further enhance the company’s offerings for individuals, employers, and health plans.
