Berlin, Germany – September 21st, 2023 – HelloBetter, a digital health company specialising in evidence-based digital therapeutics, raises €5 million from HSBC Asset Management’s Financial Technology Venture Capital strategy as a second closing to its A2 round announced in May. This brings the total funding raised by the company in 2023 to €12 million. The investment will support HelloBetter with the scale up of its evidence-based mental health care products.
HelloBetter is a leading provider of therapy courses, with its evidence-based programmes addressing a wide range of mental health challenges, including stress, panic, depression, and insomnia. HelloBetter’s user-friendly digital tools deliver effective, accessible, and scalable mental health support. In Germany, six of HelloBetter’s therapy programmes are available to all publicly insured adults for free as prescription digital therapeutics.
Kara Byun, Head of Fintech at HSBC Asset Management, says: “We are pleased to support HelloBetter whose mission aligns with our commitment to good mental health and wellbeing. Supported by its team’s deep roots in both tech and academic research, HelloBetter is making clinical-grade mental health care available for the many in an effective, affordable, and accessible way. As the world increasingly recognises the importance of mental health and the potential of digital solutions to address these challenges, HelloBetter is well-positioned to lead the way.”
This investment comes at a pivotal moment for HelloBetter as the company expands its education of prescribers and patients about the benefits of digital therapeutics. The funding will be used to invest in its sales and marketing and data analytics capabilities, to enter new markets, and to further expand the company’s portfolio of digital therapeutics.
“Global society faces severe challenges that take a toll on people’s mental well-being. Many suffer in silence, but the impact is already felt in the workplace, where sick leave due to mental health issues is reaching record levels. This underscores the urgent need for innovative digital solutions in mental healthcare,” says Hannes Klöpper, CEO and Co-founder of HelloBetter. “We are delighted to have HSBC Asset Management’s support to enable us to continue building evidence-based mental health solutions that empower people to change their lives. We are genuinely excited about the positive impact we can create at a global scale.”
HelloBetter is a European leader in the field of digital therapeutics (DTx) for mental health and a global pioneer in digital mental health research. Founded in 2015, HelloBetter has the strongest evidence base globally, with a total of 33 randomised controlled trials published in peer-reviewed journals. In Germany, six of their ten therapy programmes are part of the standard of care and as such available to all publicly insured adults for free as prescription digital therapeutics also known as DiGA. In 2022, HelloBetter entered the US market with the brand HelloGina offering a sexual wellness programme for people with vaginismus. In early 2023 the company received ‘breakthrough device designation’ from the FDA.
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HSBC Asset Management, the investment management business of the HSBC Group, invests on behalf of HSBC’s worldwide customer base of retail and private clients, intermediaries, corporates and institutions through both segregated accounts and pooled funds. HSBC Asset Management connects HSBC’s clients with investment opportunities around the world through an international network of offices in 23 countries and territories, delivering global capabilities with local market insight. As at 30 June 2023, HSBC Asset Management managed assets totalling US$651bn on behalf of its clients. For more information see http://www.global.assetmanagement.hsbc.com/
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