UK-based HelloSelf has raised about €18.65 million ($20 million) for its digital therapy platform that’s making mental health care more accessible. The startup now plans to expand.
It’s reported that one in four people in the UK experience mental health challenges each year. Mental health is something which impacts each and every one of us and something we need to be aware of. However, access to therapy and mental health care is something that is lacking, right across Europe.
HelloSelf, a digital therapy platform, aims to empower people to take control of their mental health, enabling users to build their own psychological toolkits. The startup has just secured €18.65 million ($20 million) in Series B funding.
The round was led by Octopus Ventures and joined by $20 million in series B funding, led by Octopus Ventures and joined by other leading firms including Omers, Mantaray and Oxford Capital.
Charles Wells, founder of HelloSelf: “HelloSelf is about giving everyone access to the personalised psychological advice they need. We want to help make Every Self Better. I’m delighted that Octopus has joined the mission. There are over 1.2Bn people who are underserved globally so with this investment and the trust of our network we can accelerate HelloSelf’s impact across the UK and beyond.”
Founded in 2018, HelloSelf brings together tech and psychological expertise to improve the outlook for mental health care. The digital therapy platform combines data, outcomes and feedback to create tailored psychological self-care plans for its members. The aim is to empower users to become experts in their own mental health and wellbeing. The startup reports that 76% of members make meaningful improvements in anxiety, depression and wellness measures.
HelloSelf provides a range of psychological interventions, including proactive psychological coaching, therapy for specific mental health challenges, video therapist appointments and more. The healthtech startup leverages a team of PhD clinical and counselling psychologists who work directly with referrer partners like healthcare professionals, employers, the NHS, insurers, friends and family. This aims to optimise the speed and quality of care through its rapid therapist-member matching process which helps alleviate pressure on the increasingly strained mental health services.
Dr Rumina Taylor, Chief Clinical Officer: “This is a very exciting time for HelloSelf, our network of therapists, partners and members. Our mental health is precious and we all deserve the opportunity to be our best selves and fulfil our potential. At HelloSelf we are driven to improve access to personalised psychological interventions and support our members to be proactive in looking after their wellbeing using meaningful outcomes that last.”
With this new investment, the impact-led team plan to scale. The cash will be used to grow HelloSelf’s network of trusted therapists, members and partners across the UK and Europe.
Kamran Adle, Principal from Octopus Ventures: “Having known Charlie and the team for almost three years now, we’ve long been supporters of HelloSelf’s mission to help people be the best version of themselves by improving their mental wellbeing. Seeing this combined with the £117.9 billion cost of mental health on the UK health service, we recognised that HelloSelf has a fantastic opportunity to capture the market and drive true positive change.”
