Headspace Raises $105M for Mental Health Service Expansion

Digital mental health company Headspace secured $105 million in debt financing from Oxford Finance to expand its business with employers and health plans. The funding will fuel the growth of their mental health platform and possible mergers and acquisitions. Despite recent layoffs, Headspace aims to reach profitability by focusing on commercial business, particularly their EAP offering and partnerships with health plans. The company's unified app combines various mental health services to cater to a broad audience seeking support.