Spring Health acquires Alma — combined entity projected at $1B revenue in year one.

Spring Health uses AI to match employees with the right mental health treatment — therapy, medication, or coaching — sold as a benefit to 450+ employers covering 50M+ lives. Their Rails backend powers the matching engine and clinical platform. The acquisition of Alma, a network of 8,000+ independent therapists across all 50 states, creates a vertically integrated system: demand (employer benefit) + supply (provider network). Nearly 10M visits projected for 2026. SF office at 2 Embarcadero.