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Thursday 16 March 2023

HelloSelf says hello to £17m Series B round

HelloSelf logoLondon-based HelloSelf became the latest digital health platform to secure significant funding, announcing a $20m (£16.6m) Series B round led by Octopus Ventures.

Founded in 2018, HelloSelf sets out to provide broader access to clinical therapies. Positioned as an online therapy and psychological coaching service, the platform connects users with therapists and provides support between sessions, including messaging, tracking and other activities.

The Series B funding follows a £5.5m round in March 2021. It will be used to expand HelloSelf’s team of healthcare professionals and support expansion beyond the UK and into Europe. Existing investors OMERS Ventures joined Octopus, as well as Mantaray and Oxford Capital, to support the latest raise. 

HelloSelf is one of many start-ups and scaleups globally to have recognised both the need and the opportunity to digitally transform mental health provision (see for example our recent coverage of Syndi HealthHealios or Psyomics). Co-founder Charles Wells believes there are over 1.2 billion people who can’t access the personalised psychological advice they need, hence the desire to accelerate the expansion of their network both in the UK and beyond. However, with HelloSelf’s model being less about digital therapeutics and more about connecting humans, scaling rapidly will be more a challenge than it would be for a purely tech-based mental health offering.

Posted by: Tola Sargeant at 09:27

Tags: funding   scaleup   mental+health  

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