HelloBetter expands Series A round to € 20 million for US expansion

Photo: Dr. Elena Heber, Co-Mana­ging Direc­tor at Hell­o­Bet­ter along­side Hannes Klöp­per and Philip Ihde
25. May 2023

Hamburg — Hell­o­Bet­ter raises another seven million euros for US expan­sion. A team led by Heuking Sala­ried part­ner Chris­toph Proch­nau from the Hamburg office again advi­sed Hell­o­Bet­ter on the expan­sion of its Series A finan­cing round.

Mass­Mu­tual Ventures (MMV), Health­Cap, Spar­row Ventures, Hevella Capi­tal and Expon Capi­tal have inves­ted a further seven million euros in the Hamburg-based start-up. This expan­sion increa­ses the volume of the Series A finan­cing round — despite the current chal­len­ging market envi­ron­ment for venture capi­tal finan­cing — to a total of EUR 20 million.

Hell­o­Bet­ter intends to use the new funds to expand its digi­tal health appli­ca­tion (DiGA) busi­ness in Germany and to drive it forward across Europe and in the US. The German startup began its U.S. expan­sion last year and was recently accepted into the Food and Drug Administration’s (FDA) Breakth­rough Device program.

As a leader in inno­va­tion in the field of e‑mental health, Hell­o­Bet­ter offers custo­mers many and varied therapy programs that are deve­lo­ped and evalua­ted by inter­di­sci­pli­nary teams through many years of rese­arch. No other provi­der in the world has done a compa­ra­ble number of clini­cal studies on the effec­ti­ve­ness of its online psycho­logy cour­ses. Six of the products distri­bu­ted by Hell­o­Bet­ter have now been appro­ved as digi­tal health appli­ca­ti­ons and can be prescri­bed to all people with health insu­rance in Germany on prescription.

Advi­sor Hell­o­Bet­ter: Heuking Kühn Lüer Wojtek

Chris­toph Proch­nau, LL.B. (Lead Part­ner / Finan­cing, Corporate/ M&A), Dr. Henrik Lay (Tax), Katha­rina Waszc­zyn­ski (Corporate/ M&A), Nils Leon Bojert, (Corporate/ M&A), all Hamburg

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