Berlin-based healthtech startup HelloBetter has announced a seed round in the “single-digit million range”. The name of the lead investor was also withheld, named only as a “holding company based in Hamburg”. Other investors included Munich’s Ideamed Gesundheitsgruppe (a psychotherapeutic hospital operator), and a group of business angels from the health and insurance sectors.
Combined with funds raised by its research team, the startup now has nearly €5 million at its disposal. Late last summer, with the help of a convertible loan, the team expanded from five to around 40 members to pursue its mission of improving access to mental health care.
“More than one in four adults in Germany meet the diagnosis criteria of a mental disorder in any given year. At the same time, it takes about 20 weeks on average to get treatment at a licensed therapist in Germany,” explained Hannes Klöpper, CEO of HelloBetter. “The new investment is the next step on our way to make evidence-based mental health care universally accessible and affordable for everyone.”
The startup claims that 32 randomized clinical studies have proven the effectiveness of its psychology training programs, which have reached over 30,000 participants. Specifically the new funding will go toward the development of a new digital platform, as well as sales and marketing.
HelloBetter has also established two groups that will help guide the company forward: a scientific advisory board, made up of German and international scientists in the field of digital mental health and psychotherapy research; and a council of experts from the health and insurance industries.
Photo: HelloBetter founders Associate Prof. Dr. David Ebert (CSO), Dr. Hanne Horvath, Dr. Elena Heber, Hannes Klöpper (CEO)