ALEXANDRIA, Va.–(BUSINESS WIRE)–Oxford Finance (“Oxford”), a leading specialty finance firm providing senior debt to healthcare and life sciences companies worldwide, is pleased to announce the closing of a $105 million senior debt facility with Headspace (“the Company”), a pioneering digital healthcare company.
Proceeds from the transaction will be used to further support the expansion of Headspace’s innovative mental health platform. Additionally, the investment will enable the Company to be opportunistic in investing in areas where it sees market need.
“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. “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.”
“We’re excited to partner with Oxford and grateful for their confidence in our vision,” said Russell Glass, chief executive officer of Headspace. “This financing puts us in a strong position to expand our enterprise EAP offering and accelerate our ability to bring our mental healthcare services to more health plans and directly to consumers in the coming year.”
Built by the pioneers in bringing meditation, mindfulness and mental health coaching, therapy and psychiatry to the digital world, Headspace has decades of proven expertise in helping millions of people around the world achieve greater health and happiness. From large airlines and consulting firms to media companies and healthcare organizations, over 4,000 employers across 200 countries look to Headspace to support the mental health and wellbeing of their employees. The Company also works with an ecosystem of health plans and partners, ranging from small regional plans, to large plans like Cigna, as well as organizations like Accolade, Virgin Pulse and Sequoia. Through its flagship direct-to-consumer app, Headspace uses evidence-based tools to help people stress less, sleep soundly, develop healthy habits, and feel better.
Armentum Partners served as financial advisor to Headspace on the transaction.
About Oxford Finance LLC:
Oxford Finance LLC is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to over 700 companies, allowing borrowers to maximize their equity by leveraging their assets. Since 2002, Oxford has originated more than $11 billion in loans. Oxford is headquartered in Alexandria, Virginia, with additional offices serving the greater San Diego, San Francisco, Boston and New York City metropolitan areas. For more information, visit oxfordfinance.com.
Headspace is your lifelong guide to better mental health. We make mental health support accessible to everyone, no matter their background or experience. Through our flagship Headspace app, we provide mindfulness tools for everyday life, including meditations, sleepcasts, mindful movement and focus exercises. Our enterprise offerings combine this experience with a human-centered model of care, with coaching, therapy, psychiatry and EAP services under one roof. Our team of experts ranges from mental health clinicians to Emmy award-winning producers and data scientists, working together as one to help millions of people around the world be healthier and more productive. To learn more, please visit headspace.com.