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German based start-up, HelloBetter, raises millions in seed funding

Psychotherapy via video technology is booming. The start-up HelloBetter is expanding its range thanks to millions of euros in financing. HelloBetter aims to help with people depression, stress, anxiety, panic and other psychological complaints.

While many start-ups fear their existence in the corona crisis, providers of digital therapies are looking forward to a rush for their offers, such as HelloBetter which has announced a seed round in the “single-digit million range”.

Klöpper, CEO of HelloBetter, does not want to reveal the company valuation – only that HelloBetter would now have 4.5 million euros of capital available together with research funds at its disposal.

Users can complete a corona training or speak to a psychotherapist via Facebook and a free hotline.  “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 start-up 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.