London-based brain tech startup for digital therapy services, HelloSelf has raised a £5.5 million Series A funding round from VC firm OMERS Ventures. Harry Briggs, OMERS Ventures Managing Partner will join the board.
WHY IT MATTERS
In the UK, around 15 million people experience mental health issues each year. The Centre for Mental Health estimates up to 10 million people will need either new or additional mental health support as a direct consequence of the pandemic.
The HelloSelf app claims to be a more affordable and accessible tool for those suffering most from social distancing rules and national lockdowns. According to HelloSelf, members have been able to benefit from a service focused on delivering better outcomes than face-to-face therapy.
The COVID-19 pandemic has highlighted the importance of mental health and employee wellbeing for HR departments and companies across the world. The new investment from OMERS Ventures will be used primarily to build HelloSelf’s B2B proposition of the HelloSelf @Work service.
The initiative aims to help organisations in the UK by providing tailored ‘needs-based’ mental health support services to their employees, through in-person and digital coaching, clinical treatment, and wellness plans.
HelloSelf uses data, outcomes and feedback throughout the process to personalise treatment plans and the service it provides. As an independent clinic, HelloSelf also has the ability to integrate with online GP services and wellbeing apps.
THE LARGER CONTEXT
Motherdom, a UK media platform dedicated to maternal mental health and wellbeing has launched in light of research showing that new mums' mental health has suffered during the lockdown.
In related news, Deprexis, an app used to help mental health, became the 11th app to be approved for medical prescription and reimbursement in Germany so far via DiGA.
ON THE RECORD
Charlie Wells, founder of HelloSelf, said: “Our mission has always been to help more people say Hello to their best Self more often. Never has this been more important. Raising this additional growth capital enables us to help even more people and to deliver them more hopeful futures.”
Harry Briggs, managing partner at OMERS Ventures, said: “It’s a privilege to work with a company that is improving so many people’s lives in these difficult times. We believe HelloSelf’s combination of world-class therapists and world-class technology can lead to improved and sustained mental health outcomes for millions.”