Koa Health, a Barcelona-based digital mental healthcare provider, has announced it closed an oversubscribed €30 million Series A funding round. The round had a first close last fall, when the company also announced its spin out from Alpha, Telefónica’s startup factory. Investors in the final close include MTIP and Akilia Partners, Creas Impacto, Sabadell Asabys and Mundi Ventures. The company’s lead product is Koa Foundations, a mental wellbeing app that helps organisations better support employees with a library of evidence-based activities focused on tackling stress, sleeping better, etc. According to a press release, the app is available to over three million people through contracts with dozens of employers, healthcare providers and payers.
Much of the new capital will go to product development, including expanding the diagnoses that Koa’s solutions can support, adding more wellness content, and making programs available in new languages. This includes bolstering R&D to further its investment in technology that powers personalised care. The company will also use this new funding to break into international markets, including North America.