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- Ginger
Ginger Acquisition, Valuation, Funding & Investors
Ginger was acquired by Headspace for $3B in August 2021.
Cumulative funding Ginger raised
$213M
across 5 funding rounds
Key investors in Ginger
Kaiser Permanente Ventures
Khosla Ventures
City Light Capital
Jeff Weiner
Bessemer Venture Partners
True Ventures
Blackstone
Kapor Capital
About Ginger
Ginger is a San Francisco-headquartered telemental health platform connecting users to behavioral coaches, therapists, and psychiatrists via smartphone. The service offers 24/7 on-demand support for anxiety, depression, and stress management. Partnerships with employers like Boeing and health plans such as Aetna provide access to evidence-based care for workforces nationwide.
Founded
2011
HQ
Website
Status
Acquired
Customer focus
B2C & B2B
Revenue model
Services
Valuation
$1.1B (Mar 2021)
Ginger Acquisition
Ginger was acquired by Headspace for $3B on 25 August 2021.
Before the acquisition Ginger had raised $213M across 5 funding rounds.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 25 Aug 2021 | Strategic M&A | $3B |
Ginger Valuation
Ginger is currently valued at $1.1B, based on its Series E in March 2021.
The $100M round was led by Blackstone, with participation from Transformation Capital.
Ginger valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Mar 2021 | Series E | $1.1B |
Ginger Funding History
Ginger has raised a total of $213M across 5 funding rounds.
Ginger's first fundraising round was a $20M Series B in December 2014. The most recent completed round was a $100M Series E in March 2021.
Ginger funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2021 | Series E | Blackstone (lead); Transformation Capital | $100M | $1.1B | Ginger is a San Francisco-based on-demand mental health company providing virtual behavioral health coaching, video therapy, and psychiatry sessions primarily through employers, health plans, and government payers. In March 2021, it raised $100 million in a Series E funding round led by Blackstone Growth, bringing total funding to over $220 million and valuing the company at approximately $1.1 billion, achieving unicorn status. The round followed a $50 million Series D in August 2020 and was supported by Ginger's approximately 3x revenue growth over the past year amid surging demand during the Covid-19 pandemic. Blackstone Growth, the growth equity arm of Blackstone with significant assets under management, joined existing investors including Kaiser Permanente Ventures, Cigna Ventures, Bessemer Venture Partners, and others. Ram Jagannath from Blackstone joined Ginger's board. The funding aims to expand partnerships with multinational employers and health plans, enter government payer relationships and non-profits for underserved populations, and pursue acquisitions of innovative technologies and clinical services to scale its value-based mental health platform. Ginger serves major clients like Delta Air Lines, Sanofi, and Domino's Pizza, focusing on high-quality, cost-effective care. CEO Russell Glass emphasized advancing technology, research for better outcomes, and broader access. The company appointed Jesse Silver as Chief Product Officer to drive innovation. This round positioned Ginger for growth in the digital mental health space, though it later merged in August 2021. |
| Aug 2020 | Series D | Advance Venture Partners (lead); Bessemer Venture Partners (lead); Kaiser Permanente Ventures; Cigna Ventures; Jeff Weiner; City Light Capital | $50M | - | Ginger is a San Francisco-based provider of on-demand mental healthcare services, delivering evidence-based behavioral health coaching, therapy, and psychiatry via a mobile app. The company offers a collaborative care model that combines coaches, therapists, and psychiatrists for personalized care plans, accessible remotely at a fraction of traditional care costs. Ginger serves over 200 employer clients including Delta Air Lines, Domino’s, Sephora, and health plans like Optum Behavioral Health, Anthem California, and Aetna, reaching millions worldwide. In August 2020, Ginger raised $50 million in a Series D funding round co-led by Advance Venture Partners and Bessemer Venture Partners, with participation from Cigna Ventures, Jeff Weiner (LinkedIn Executive Chairman), and Kaiser Permanente Ventures. This brought total funding to over $120 million. The capital supports expansion of its partner ecosystem, targeting government payers, direct-to-consumer growth, automation via natural language processing, machine learning for personalized care, R&D for clinician tools, adolescent care, and multilingual services. The round added David ibnAle (Advance Venture Partners) and Steve Kraus (Bessemer Venture Partners) to the board. Around the funding, Ginger reported more than tripling revenue over the past year amid surging demand from COVID-19. Weekly utilization rates in July 2020 were 125% higher for coaching and 265% higher for therapy/psychiatry compared to pre-COVID averages. The company noted its model is more than twice as effective as standard interventions, with 70% of users improving depression symptoms within 10-14 weeks. This occurred during a boom in mental health startup funding, with record Q2 2020 deal volumes. |
| Oct 2019 | Series A | - | $8M | - | - |
| Sep 2019 | Series C | WP Global Partners (lead); Kaiser Permanente Ventures; Kapor Capital; Next Play Ventures; Khosla Ventures; Nimble Ventures; Jeff Weiner; City Light Capital | $35M | - | Ginger, an MIT spin-out (also referred to as Ginger.io), provides app-based mental health coaching and on-demand behavioral health services, connecting users with coaches via smartphone for immediate emotional support. The company partners with employers like CBS, Netflix, Pinterest, Sephora, Twilio, Yelp, and BuzzFeed, as well as healthcare providers, enabling access for over 200,000 people across 25 countries including the U.K., Japan, Australia, Canada, and India. On September 4, 2019, Ginger raised $35 million in a Series C funding round led by WP Global Partners, with participation from City Light Capital, Jeff Weiner (LinkedIn CEO), Kaiser Permanente Ventures, Kapor Capital, Khosla Ventures, Next Play Ventures (mentioned in query), Nimble Ventures, and others. This brought total funding to $63 million, intended to expand data science for therapy programs, clinical offerings, international growth, and reach beyond employers to health plans. WP Global Partners highlighted Ginger's innovative teletherapy model as key to addressing the global mental health crisis, emphasizing quick and effective support. The investment aligned with Ginger's mission to transform behavioral healthcare delivery through technology. Ginger had demonstrated steady growth and industry recognition, working with leading U.S. healthcare institutions and earning awards in diabetes and mental health management. Later developments include a 2021 merger with Headspace to form Headspace Health, expanding to nearly 100 million lives across 190+ countries via direct-to-consumer and over 2,700 enterprise and health plan partners, though this post-dates the 2019 round. |
| Dec 2014 | Series B | Kaiser Permanente Ventures (lead); Khosla Ventures; True Ventures | $20M | - | Ginger (formerly Ginger.io) is a San Francisco-based behavioral health analytics and on-demand mental health platform providing coaching, therapy, psychiatry, and data-backed virtual care accessible via smartphone, partnering with institutions like UCSF and Mass General. In December 2014, it raised $20 million in a Series B funding round, bringing total funding to $28.2 million, with Kaiser Permanente Ventures joining the board (implying a lead role) alongside prior investors Romulus Capital, Khosla Ventures, and True Ventures. This round supported expansion of its behavioral health analytics and hospital partnerships. Later rounds included a $35 million Series C in 2019 led by WP Global Partners with Kaiser Permanente Ventures, Khosla Ventures, and others; a $50 million Series D in 2020 with Cigna Ventures and Kaiser Permanente Ventures, totaling over $120 million; and a $100 million Series E in 2021 at $1 billion valuation led by Blackstone. |
Who has invested in Ginger?
14 investors have backed Ginger across its funding rounds, including Kaiser Permanente Ventures, Khosla Ventures, City Light Capital, Jeff Weiner, Bessemer Venture Partners and True Ventures.
Lead investors include Blackstone, Advance Venture Partners, Bessemer Venture Partners, WP Global Partners and Kaiser Permanente Ventures.
Ginger Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Dec 2014 | ||
| 2 | Participant | Dec 2014 | ||
| 2 | Participant | Sep 2019 | ||
| 2 | Participant | Sep 2019 | ||
| 1 | Lead | Aug 2020 | ||
| 1 | Participant | Sep 2019 | ||
| 1 | Participant | Sep 2019 | ||
| 1 | Lead | Mar 2021 | ||
| 1 | Lead | Aug 2020 | ||
| 1 | Participant | Aug 2020 | ||
| 1 | Participant | Dec 2014 | ||
| 1 | Participant | Sep 2019 | ||
This data is available for Pro users. Sign up to see all 14 Ginger investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Ginger
Ginger has acquired 1 company to date.
Last acquisition by Ginger was on March 5th 2020. Ginger acquired Livebetter for undisclosed valuation.
Latest Acquisitions by Ginger
| Description | Livebetter is a provider of free virtual mental health tools accessible via smartphones. The platform offers guided meditations, mood tracking, and therapy sessions designed for everyday users seeking accessible wellness support. Headquartered in Tel Aviv, it partners with healthcare providers for evidence-based content delivery. |
| HQ Country | |
| HQ City | New York City, NY |
| Deal Date | 5 Mar 2020 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Ginger acquisitions and their M&A valuation multiples. Start Free Trial | |
Ginger Competitors
Ginger competitors include listed companies like Hims and Teladoc, and private ones like Grow Therapy, Headway, Cerebral and Nourish.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $1B | - | $3B | - | ||
| Private | - | - | $2.3B | - | ||
| Private | - | - | $4.8B | - | ||
| Private | $160M | - | $1.8B | 10.9x | ||
| Publicly listed | $2.3B | $178M | $6.5B | 2.4x | ||
| Publicly listed | $2.5B | $124M | $1.1B | 0.6x |
Ginger Public Comps
Ginger is no longer listed, but its public comps include Compass Pathways, Ping An Healthcare, JMDC, ACADIA Pharmaceuticals, Doximity, GoodRx, Teladoc, Talkspace, Guiyang Longmaster and Medley Inc..
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| - | ($293M) | - | - | (5.8x) | (8.4x) | |||
| $815M | $52M | 0.9x | 0.9x | 13.4x | 16.9x | |||
| $324M | $88M | 5.0x | 4.6x | 18.4x | 17.9x | |||
| $1.1B | $119M | 3.6x | 3.2x | 32.3x | 33.6x | |||
| $645M | $229M | 6.3x | 6.2x | 17.7x | 11.9x | |||
| $797M | $173M | 1.8x | 1.8x | 8.1x | 5.5x | |||
| $2.5B | $124M | 0.6x | 0.6x | 11.3x | 5.0x | |||
| $229M | $6M | 3.4x | 3.4x | 129.3x | 49.4x | |||
This data is available for Pro users. Sign up to see all Ginger competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Ginger
| When was Ginger founded? | Ginger was founded in 2011. |
| Where is Ginger headquartered? | Ginger is headquartered in San Francisco, CA, United States. |
| Is Ginger publicly listed? | No, Ginger was acquired by Headspace in August 2021. |
| Who acquired Ginger? | Ginger was acquired by Headspace in August 2021. |
| How much was Ginger acquired for? | Ginger was acquired for $3B in August 2021. |
| What is Ginger's valuation? | Ginger was last valued at $1.1B in its Series E in March 2021. |
| How much funding has Ginger raised? | Ginger has raised $213M across 5 funding rounds. |
| What was Ginger's last funding round? | Ginger's last funding round was a $100M Series E in March 2021, led by Blackstone. |
| Who are Ginger's investors? | Ginger's investors include Kaiser Permanente Ventures, Khosla Ventures, Jeff Weiner, City Light Capital, Advance Venture Partners, Kapor Capital, Next Play Ventures, Blackstone, Bessemer Venture Partners, Cigna Ventures and 4 others. |
| Which companies are comparable to Ginger? | Companies comparable to Ginger include Grow Therapy, Headway, Cerebral, Nourish, Hims and Teladoc. |
| How many companies has Ginger acquired? | Ginger has acquired 1 company, including Livebetter. |
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