HelloSelf raises $20 million to grow digital therapy, coaching platform

HelloSelf on Tuesday said it raised $20 million in Series B funding, led by Octopus Ventures and returning investors such as Omers, Mantaray and Oxford Capital. The cash infusion will help the UK-based company expand its artificial intelligence (AI)-powered digital therapy and coaching platform.

"There are over 1.2 billion people who are underserved globally, so with this investment and the trust of our network, we can accelerate HelloSelf's impact across the UK and beyond," remarked CEO Charles Wells. Rumina Taylor, the company's chief clinical officer, said "we are driven to improve access to personalised psychological interventions and support our members to be proactive in looking after their wellbeing using meaningful outcomes that last."

As an online therapy and psychological coaching service for individuals and organisations, including the NHS, HelloSelf connects its users with clinical psychologists and provides AI-powered online support, including messaging, tracking and activities, between sessions through its app. With the funding, HelloSelf aims to further grow its network of therapists, members and partners across the UK and Europe.

HelloSelf last raised an undisclosed sum from Google for Startups in December 2021, which followed a £5.5-million ($6.7 million) Series A round earlier that year.

Commenting on the latest investment, Kamran Adle, principal from Octopus Ventures, said that "seeing this combined with the £117.9-billion ($143.4 billion) cost of mental health on the UK health service, we recognised that HelloSelf has a fantastic opportunity to capture the market and drive true positive change."

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