Mental health therapy platform Ieso raises £18 million

UK-based Ieso Digital Health, a platform for online mental healthcare, has raised £18 million in funding led by Draper Esprit and Touchstone Innovations.

The new funds will be used to continue its growth in the UK and expand into the US market as well as invest in therapist education and training.

Ieso delivers online-based psychological therapies and cognitive behavioural therapy (CBT) backed by data science. It is currently available through the NHS and is now being introduced to US services.

The company anticipates that it will have delivered 100,000 hours of therapy by the end of the year, which it claims increases recovery time by up to 50%.

“Up to 60% of people in the US alone have unmet behavioral health needs. This presents a major opportunity for Ieso to make a radical impact on healthcare outcomes and costs,” said Dan Clark, CEO of Ieso (pictured). “With our technology and clinical data science we are simultaneously improving patient outcomes and reducing costs to the healthcare system.”

Co-lead investor Draper Esprit is a regular investor in digital health firms.

“[Ieso] has a proven and experienced management team; a strong clinical platform; strict adherence to the evidence base; and a scalable model that is delivering strong outcomes with high levels of quality control,” said Dr Vishal Gulati, partner at Draper Esprit.

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