What is HelloBetter?
Founded in 2015 as a university spin-off from Berlin, Germany, HelloBetter is at the forefront of digital mental health research and treatment. The company specializes in developing evidence-based digital therapeutics that address a wide spectrum of mental health conditions, including stress, burnout, depression, anxiety, and chronic pain. With a robust portfolio of 10 digital therapeutics, HelloBetter has established the strongest evidence base globally, supported by 33 randomized controlled trials published in peer-reviewed journals. In Germany, six of its programs are approved as Digital Health Applications by the Federal Institute for Drugs and Medical Devices, making them a standard of care reimbursed nationwide. The company expanded into the US market in 2022 with its HelloGina brand and received FDA Breakthrough Device Designation for its digital therapeutic HelloBetter Panic in 2023, signaling its commitment to global impact and innovation in mental healthcare.
How much funding has HelloBetter raised?
HelloBetter has raised a total of $18.4M across 2 funding rounds:
Series A
$13M
Other Financing Round
$5.4M
Series A (2022): $13M with participation from Sparrow Ventures, HealthCap companies, and Expon Capital
Other Financing Round (2023): $5.4M led by HSBC Global Asset Management
Key Investors in HelloBetter
HSBC Global Asset Management
HSBC Global Asset Management is a prominent investment management firm that likely provides significant capital for growth-stage companies, focusing on sectors with strong market potential and established revenue streams.
Sparrow Ventures
Sparrow Ventures is a venture capital firm that invests in innovative companies, particularly those with disruptive business models and strong growth trajectories, as evidenced by their previous investments in the tech and healthcare sectors.
HealthCap companies
HealthCap is a venture capital fund specializing in life sciences, focusing on breakthrough therapies and companies addressing high unmet medical needs, aligning with HelloBetter's mission in digital therapeutics.
What's next for HelloBetter?
The recent major strategic investment signifies HelloBetter's transition into a scaling phase, likely focusing on expanding its market reach, further developing its product pipeline, and solidifying its position as a global leader in digital mental health. The company's strong emphasis on clinical validation and its successful integration into standard healthcare systems in Germany provide a solid foundation for future growth. Continued investment will likely fuel international expansion, particularly in markets like the US, and support the development of new digital therapeutics to address unmet mental health needs. HelloBetter's mission to empower individuals to manage their mental well-being anytime, anywhere, is well-positioned to capitalize on the increasing demand for accessible and effective mental health solutions.
See full HelloBetter company page
