Grow Therapy, a mental health platform, will move its New York headquarters from SoHo to a larger space at 100 Broadway in Lower Manhattan. The relocation is part of the company’s plan to expand operations and create at least 186 new full-time jobs over the next five years. This expansion is supported by up to $1.8 million in performance-based Excelsior Jobs Program tax credits.
Governor Kathy Hochul commented on the announcement: “Grow Therapy’s decision to expand in Lower Manhattan underscores New York’s commitment to building a vibrant tech sector that creates high-quality jobs, attracts world-class talent and improves access to care for those who need it most,” Governor Hochul said. “By supporting innovative companies and investing in the next generation of technology development, we’re strengthening the foundations of New York’s economy and positioning our state as a national leader in tech-driven growth and opportunity.”
Hope Knight, President, CEO and Commissioner of Empire State Development, also remarked: “New York is home to world-class talent and forward-thinking companies driving change in healthcare and technology. Grow Therapy’s decision to expand here underscores our state’s leadership in building a modern, equitable healthcare system powered by innovation. These are the kinds of high-quality jobs that strengthen our communities and keep New York at the forefront of digital health.”
Founded in 2020, Grow Therapy connects clients with independent therapists and insurance providers through its unified platform. As part of its expansion, Grow will invest $16 million into research and development focused on technology and artificial intelligence applications designed to assist clinicians and improve care delivery.
Jake Cooper, CEO and Co-Founder of Grow Therapy, stated: “New York is where Grow began, with a simple Craigslist ad asking mental health providers if they needed help contracting with health insurance. Today, nearly one million people across the country turn to Grow for effective mental health care, and that kind of momentum starts in New York. As we take on the hard work ahead, we are building clinician-guided artificial intelligence that supercharges care, and we are investing here because this city is a magnet for talented people with grit and purpose. We are grateful to Empire State Development and the Excelsior Jobs Program for their support.”
The company currently employs more than 100 people across New York State. Its network includes 23,000 providers delivering therapy services covered by insurance plans available to 180 million Americans.
The move comes as New York City’s technology sector continues rapid growth; between 2013 and 2023 it expanded by more than 160 percent—now supporting over 400,000 jobs with an average salary above $180,000—and venture investment reached $22 billion in local startups during 2023 alone.
Empire State Development promotes business growth throughout New York State by supporting emerging industries such as clean energy and semiconductor manufacturing while overseeing programs like Regional Economic Development Councils.
Grow Therapy has raised $178 million from investors including Sequoia Capital, Goldman Sachs Alternatives, Transformation Capital, TCV, SignalFire, and Plus Capital.
