HelloBetter Series A Round, November 2024

German digital mental health company HelloBetter has raised €3 million in funding from the Ministry for Economic Affairs, Labour and Energy of Brandenburg, facilitated through Investitionsbank des Landes Brandenburg (ILB). This investment will support the development and commercialization of HelloBetter’s AI-powered mental health platform, focusing on personalized user experiences aimed at improving patient adherence, satisfaction, and overall mental health outcomes.

HelloBetter, known for its broad range of online therapy programs, provides accessible mental health resources for conditions such as depression, insomnia, panic disorders, and chronic pain. In addition to common mental health issues, HelloBetter also addresses less frequently targeted conditions like vaginismus. By focusing on these diverse areas, the company aims to fill gaps in mental health treatment that are often underserved.

A key component of HelloBetter’s recent developments is the AI-based product “MindFIT,” which was launched in stealth mode earlier this year. MindFIT is designed to offer tailored therapy experiences based on user behavior and needs, adapting its content and delivery to improve therapy engagement and effectiveness. The initial results from MindFIT are expected to emerge next year, signaling HelloBetter’s commitment to leveraging technology to enhance the effectiveness of digital mental health treatments.

CEO Hannes Mühle emphasized the impact of this funding on HelloBetter’s mission to deliver high-quality, accessible mental health care. “The support from ILB and the Ministry for Economic Affairs enables us to advance our AI technology, providing users with therapy that is responsive to their individual needs. This kind of personalized approach is essential for improving mental health outcomes on a large scale,” Mühle stated.

One distinctive aspect of HelloBetter’s programs is its integration within Germany’s healthcare system. Six of the company’s therapy programs have received approval from the German Federal Institute for Drugs and Medical Devices (BfArM), qualifying them as prescription digital therapeutics. This approval allows individuals covered by Germany’s public health insurance to access these programs at no cost, aligning with the company’s goal to make mental health support widely available.

The €3 million funding will enable HelloBetter to strengthen its AI-driven platform, which seeks to make mental health care more adaptive and accessible to a wider audience. The platform will use AI to analyze user data and make real-time adjustments to therapy content, enhancing the relevance and impact of the sessions. This personalization aligns with the healthcare industry’s ongoing shift toward patient-centered care, which emphasizes tailored treatment strategies to meet individual needs effectively.

The Ministry for Economic Affairs, Labour and Energy of Brandenburg’s involvement reflects the increasing support for digital health solutions, especially those that make mental health care more accessible. By integrating AI to adapt therapy in real-time, HelloBetter’s platform aims to reduce the dropout rates seen in traditional and digital therapies, contributing to more consistent and effective mental health treatment.

With this latest funding, HelloBetter is well-positioned to expand its offerings and refine its approach to digital mental health care, making strides in the industry with a technology-first, patient-focused model. As the demand for mental health solutions continues to grow, HelloBetter’s AI-driven platform is expected to play a key role in transforming digital therapy, reaching patients with varied needs and helping them achieve better outcomes.