Alma

What Alma does

Alma is a membership-based, technology-enabled platform that connects independent mental health clinicians with insured care seekers across all 50 U.S. states. Founded in 2017 by Dr. Harry Ritter, a former Oscar Health Vice President of Care Delivery, the company operates a two-sided network: independent therapists pay a recurring $95/month (or $1,140/year) membership fee to access the platform, while care seekers use Alma's directory and AI-assisted matching to find in-network providers at an average out-of-pocket cost of ~$20 per session. The platform combines an EHR (with Wiley Treatment Planners, PHQ-9/GAD-7 assessments, and AI-supported documentation), an end-to-end Insurance Program that credentials clinicians in 45 days and processes claims across major commercial payers, a FHIR-standard scheduling API for payer/EAP integration, and a HIPAA-compliant telehealth video product. By mid-2026 Alma's network had grown to 24,000+ licensed clinicians and served as a critical supply-side asset in the in-network mental health market, anchored by direct integrations with Aetna, Cigna, Optum (UnitedHealth Group), UnitedHealthcare, Anthem, and BCBS plans, and a Care Connect partnership with Optum.

Alma's business model is a hybrid of subscription revenue (clinician membership fees), transaction-based revenue (claims, payment processing at 2.4% + $0.30 per invoice, eligibility checks), and managed services revenue from payer/partner contracts. Alma does not take a cut of cash-pay client income, which preserves provider economics and supports clinician acquisition via a product-led, self-serve onboarding motion. On the enterprise side, Alma sells into payers and health plans (and, post-merger, into employer benefit plans via Spring Health) with channel sales motion. In January 2026, Spring Health announced a definitive agreement to acquire Alma; the deal closed in May 2026, making Alma a subsidiary within Spring Health, with Harry Ritter continuing as CEO of Alma and April Koh remaining CEO of Spring Health. The combined entity is positioned as a 'lifelong mental health platform' serving 170M+ lives and is projected to generate approximately $1B in revenue in its first full year post-close. Alma concurrently executed a 45-person layoff in April 2026 as it reorganized operations and customer experience roles for integration.

The platform's technology stack is built around four pillars: (1) a clinician membership portal and EHR with measurement-informed care templates; (2) a payer-facing insurance infrastructure handling credentialing, eligibility, claims, and authorization; (3) AI-powered clinical workflow tools, headlined by Note Assist (a HIPAA-compliant AI scribe for progress notes) and AI-assisted provider matching that compresses time-to-care to an average of three days; and (4) a FHIR-standard scheduling API that enables directory, EAP, and payer integration without authorization codes. The company has raised approximately $220.5M in cumulative equity funding across rounds led by First Round Capital, Tusk Venture Partners, Insight Partners, and Thoma Bravo, with strategic participation from Cigna Ventures, Optum Ventures, and Sound Ventures. Alma is committed to W3C WCAG 2.1 Level AA accessibility and operates under HIPAA and NCQA credentialing standards, and is now a subsidiary of Spring Health.

Name

Alma

Legal name

Alma

Website

https://helloalma.com

Company type

Private

Founded year

2017

Operating status

Acquired

Headcount range

251–500 employees

Short description

Alma is a membership-based, technology-enabled platform connecting 24,000+ independent mental health clinicians with insured care seekers across all 50 U.S. states, generating revenue from clinician subscriptions ($95/month), payer contracts, and claims processing, and now operating as a subsidiary of Spring Health following its May 2026 acquisition.

Ownership category

akta.pro rank

Product category

Behavioral Health Platform

NAICS

Offices of Mental Health Practitioners (except Physicians) (621330), Outpatient Mental Health and Substance Abuse Centers (621420)

SIC

Services-Offices & Clinics Of Doctors Of Medicine (8011)

akta.pro primary industry

Behavioral & Mental Health Virtual Care (EAP/Teletherapy) (HLALADAB)

akta.pro secondary industry

Membership/Subscription Concierge Virtual Care (HLALAAAH)

Keywords

• Mental health platform
• Clinician network
• Insurance credentialing
• Behavioral health SaaS
• Therapist directory

Headquarters

HQ city

Brooklyn

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Provider membership fees: Recurring monthly or annual membership fee paid by clinicians for access to the Alma platform, insurance program, EHR tools, and community resources; income from cash-pay clients stays with the provider.
2. Payment processing and claims fees: Lower credit card processing fees (2.4% + $0.30 per invoice) and reduced fees for claims and coverage checks compared to other platforms.
3. Payer/partner contracts: Contracts with national and regional payers and EAP partners that pay Alma for access to its in-network provider directory and integrated care-navigation platform.

Pricing tiers

Go-to-market motion3 records

Core offering

Alma is a membership-based technology platform that helps independent mental health clinicians accept insurance, manage their practices, and serve in-network clients across all 50 U.S. states. For a $95/month or $1,140/year membership, providers gain access to insurance credentialing (in 45 days), claims and eligibility processing, the Alma EHR, AI-powered documentation and matching tools, a FHIR scheduling API, a HIPAA-compliant telehealth video platform, and a national directory of 24,000+ licensed providers. Care seekers use the platform to find in-network therapists at an average cost of $20 per insured session.

Product overview

Alma operates a single unified membership-based platform serving both mental health providers (independent clinicians) and care seekers (members/patients). The core Alma Membership Platform integrates with the Alma EHR (the gold-standard EHR for measurement-informed care) and the Alma Insurance Program (handling credentialing, claims, and eligibility) to deliver a connected ecosystem. AI-powered add-on modules include Note Assist (HIPAA-compliant AI scribe for progress notes), AI-Assisted Matching (matching members to providers), and the FHIR-standard scheduling API. The platform also bundles Wiley Treatment Planners, a HIPAA-compliant Teletherapy Video Platform, the Care Connect program (Optum partnership), the Find a Therapist Directory, the Check My Coverage insurance cost estimator, and the Provider Resource Hub (CE courses, webinars, templates). Together, these products form a comprehensive operating system for in-network, measurement-based mental health care across all 50 U.S. states.

Differentiator

Problem solved

Functional benefit

Brands

• Note Assist: AI-powered progress note documentation tool offered to Alma providers as part of the membership.

Products and services

• Alma Membership Platform Membership-based platform for independent mental health clinicians to accept insurance, build private practices, and access a network of 24,000+ licensed providers across all 50 U.S. states. Members pay $95/month or $1,140/year and gain access to insurance credentialing, claims processing, scheduling, the Alma EHR, and clinical resources.
• Alma Insurance Program Insurance service for member providers covering credentialing in 45 days or less (3x faster than individual applications), claims submission, eligibility checks, weekly or bi-weekly payouts, Payout Confidence policy, and negotiations with payers including Aetna, Cigna, and Optum.
• Alma EHR Industry-leading electronic health records platform for measurement-informed mental health care, providing insurance-compliant treatment templates, consent forms, intake questionnaires, PHQ-9 and GAD-7 assessments, secure AI-supported progress notes, and Wiley Treatment Planners integrated into clinical workflows.
• Find a Therapist Directory Public-facing therapist directory allowing care seekers to search for in-network mental health providers by state, insurance, and specialty. Members can schedule free 15-minute consultations with as many providers as needed before booking ongoing sessions.

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability7 records

Feature6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Grow Therapy: Grow Therapy provides a similar insurance-credentialing, billing, and EHR platform for independent therapists across the U.S., competing with Alma for the same clinician supply and payer relationships.
• Spring Health: Spring Health is an employer- and payer-facing mental health benefits platform that acquired Alma in May 2026. The two businesses overlap in in-network provider access, EAP integration, and AI-enabled matching, and are now part of the same parent.
• Modern Health: Modern Health is an employer mental health platform with global provider networks and AI-augmented care navigation. It competes with the Spring Health–Alma combined platform for employer and payer business.
• Cerebral: Cerebral is a tele-mental-health provider treating anxiety, depression, and ADHD with its own clinician network. It overlaps with Alma on the demand side (members seeking therapy) and competes for clinician capacity.
• Lyra Health: Lyra Health provides mental health benefits to employers and health plans with a blended in-person and virtual provider network. It competes directly with Alma/Spring Health for enterprise mental health contracts and clinician supply.
• Two Chairs: Two Chairs operates a therapy practice with an in-network provider model and proprietary matching technology. Its clinician-matching and in-network positioning directly overlap with Alma's matching and insurance platform.
• Headway: Headway operates a membership-based platform that helps independent mental health clinicians accept insurance across all 50 U.S. states. It is the most direct head-to-head competitor to Alma's provider-network and insurance-billing model.

Emerging players

• Therapy Brands: Therapy Brands provides practice management, EHR, and billing software to behavioral health providers. It overlaps with Alma on EHR, scheduling, and insurance-claims automation tooling for independent therapists, although it does not operate its own payer network.

Broad incumbents

• Talkspace: Talkspace is a publicly traded tele-mental-health company serving B2B (employers, payers, providers) and DTC channels. It overlaps with Alma on virtual therapy delivery and payer/B2B contracting, but does not focus on enabling independent clinicians.
• BetterHelp: BetterHelp is the largest consumer virtual therapy brand (part of Teladoc). It is a broad incumbent in online therapy with overlapping therapist-supply and member acquisition dynamics, although its model is DTC cash-pay rather than in-network insurance like Alma.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/withalma
• Xx.com/withalma_
• Facebookfacebook.com/GrowWithAlma

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds5 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alma