With one in four people in the UK experiencing challenges to their mental health each year, digital therapeutics is seen to be a feasible treatment option for brain neurological system, mental health, and other diseases that cannot be treated using traditional approaches.
UK-based digital therapeutics platform HelloSelf has raised $20M in series B funding, led by Octopus Ventures and joined by other leading firms including Omers, Mantaray and Oxford Capital.
HelloSelf plans to use the new capital to expand its network of reputable therapists, members, and partners across the UK and Europe.
Every year, the particular issue of assisting persons with mental health challenges is not being able to provide immediate support.
HelloSelf, founded by Charlie Wells in 2018, is an AI-powered digital therapy platform that primarily fills a need in the provision of mental health and digital therapies support.
It provides personalised digital treatment services to people and businesses.
Charles Wells, founder of HelloSelf said, “HelloSelf is about giving everyone access to the personalised psychological advice they need. We want to help make Every Self Better. I’m delighted that Octopus has joined the mission. There are over 1.2Bn 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.”
Dr Rumina Taylor, Chief Clinical Officer said, “This is a very exciting time for HelloSelf, our network of therapists, partners and members. Our mental health is precious and we all deserve the opportunity to be our best selves and fulfil our potential. At HelloSelf 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.”
Kamran Adle, Principal from Octopus Ventures adds, “Having known Charlie and the team for almost three years now, we’ve long been supporters of HelloSelf’s mission to help people be the best version of themselves by improving their mental wellbeing. Seeing this combined with the £117.9B 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.”
The idea for HelloSelf germinated after Charlie ripped the artery to his visual cortex and fell into a coma. Charlie created a mindset after surgery to focus his emphasis on rehabilitation and impact. His focus on compounding 1% progress every day led him to co-found HelloSelf with Dr Rumina Taylor, a renowned Clinical Psychologist from the Maudsley Hospital. They collaborated to create a platform that allows everyone to be their best selves by concentrating on the 1%, one day at a time.
HelloSelf offers a range of psychological interventions, from proactive psychological coaching to counselling for specific mental health issues. HelloSelf optimises the speed and quality of care through its rapid therapist-member matching process, which helps alleviate pressure on the increasingly strained mental health services, with a team of over 60 people and hundreds of the top PhD clinical and counselling psychologists working directly with referrer partners like healthcare professionals, employers, the NHS, insurers, friends and family.