HelloBetter continues successful path with Heuking – another seven million euros raised for U.S. expansion
A team led by Salaried Partner Christoph Prochnau from Heuking’s Hamburg office again advised HelloBetter on the expansion of its Series A funding round.
MassMutual Ventures (MMV), HealthCap, Sparrow Ventures, Hevella Capital, and Expon Capital invested another EUR 7 million in the Hamburg-based startup. With this expansion, the volume of the Series A funding round – despite the challenging market environment for venture capital financing – has now increased to a total of EUR 20 million.
HelloBetter intends to use the new funding to expand its digital health app business in Germany and to advance it further across Europe and in the U.S. After beginning its U.S. expansion last year, the German startup was recently accepted into the Food and Drug Administration’s (FDA) Breakthrough Device program.
As a global pioneer in digital mental health, HelloBetter offers its clients a wide variety of therapy programs developed and evaluated by interdisciplinary teams in many years of research. No other provider worldwide has conducted as many clinical studies on the effectiveness of its online mental health courses. Six of the products distributed by HelloBetter are now approved as digital health applications and are available on prescription to individuals with health insurance in Germany.
Heuking Kühn Lüer Wojtek:
Christoph Prochnau, LL.B. (Lead Partner / Venture Capital, Corporate/M&A),
Dr. Henrik Lay (tax law),
Katharina Waszczynski (Corporate/M&A), all Hamburg,
Shimon Merkel, LL.M. (Venture Capital), Berlin,
Nils Leon Bojert, (Corporate/M&A), Hamburg