SCHEDULE 13G/A: Norwest Venture Partners Affiliates Reaffirm 5.9% Stake in Talkspace, Inc.

Norwest Venture Partners and its affiliated entities have filed an amended Schedule 13G, confirming their continued beneficial ownership of 5.9% of Talkspace, Inc.'s common stock as of March 31, 2025.

Summary

• This document is an Amendment No. 2 to a Schedule 13G filing by Norwest Venture Partners XIII, LP, Genesis VC Partners XIII, LLC, NVP Associates, LLC, Jeffrey Crowe, Promod Haque, and Jon E. Kossow regarding their beneficial ownership in Talkspace, Inc.
• As of March 31, 2025, Norwest Venture Partners XIII, LP, Genesis VC Partners XIII, LLC, NVP Associates, LLC, Promod Haque, and Jon E. Kossow each beneficially own 9,802,972 shares of Talkspace, Inc. common stock.
• Jeffrey Crowe beneficially owns a total of 9,849,173 shares, comprising 46,201 shares with sole voting and dispositive power, and 9,802,972 shares with shared voting and dispositive power.
• The aggregate beneficial ownership for each reporting person represents 5.9% of Talkspace, Inc.'s common stock.
• This percentage is calculated based on 167,315,128 shares of common stock outstanding as of May 7, 2025, as reported in Talkspace's Quarterly Report on Form 10-Q filed with the SEC on May 9, 2025.
• The reporting persons, while acknowledging shared voting and investment authority over certain shares, expressly disclaim status as a 'group' for the purposes of this Schedule 13G.

Sentiment

Score: 6

Explanation: The filing is a routine update of beneficial ownership by a significant institutional investor, Norwest Venture Partners, maintaining a 5.9% stake in Talkspace, Inc. This indicates continued confidence from a major shareholder, but the document itself does not contain new financial performance data or strategic announcements, leading to a neutral to slightly positive sentiment.

Positives

• The continued significant stake (5.9%) by Norwest Venture Partners, a prominent venture capital firm, may signal ongoing investor confidence in Talkspace, Inc.'s long-term prospects.

Future Outlook

This Schedule 13G filing is a disclosure of current beneficial ownership and does not contain any forward-looking statements or guidance regarding Talkspace, Inc.'s future performance or strategic outlook.

Management Comments

• The reporting persons certify that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of Talkspace, Inc., nor in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 14a-11.

Industry Context

This filing pertains to Talkspace, Inc., a company operating in the digital mental health and telehealth sector. The continued significant stake by a venture capital firm like Norwest Venture Partners suggests ongoing investor interest in the growth potential of virtual healthcare services, aligning with broader trends towards digital health adoption.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional ownership and confirms a major investor's continued stake, which can be viewed as a sign of stability.
• Management: Awareness of a significant, passive institutional shareholder, which typically implies less direct operational influence but continued oversight.

Key Dates

Keywords

Talkspace, Norwest Venture Partners, Schedule 13G, beneficial ownership, institutional ownership, common stock, SEC filing, telehealth, mental health