Heuking advises HelloBetter on another capital increase
A team from Heuking’s Hamburg office, led by Salaried Partner Christoph Prochnau, advised HelloBetter on another capital increase. As part of a “second closing,” HSBC’s venture capital fund invested an additional five million euros.
This financing increases the total funding for HelloBetter to EUR 25 million. The funds will be used to invest in sales, marketing, and data analytics capabilities. In addition, it will allow the company to enter new markets and to expand its digital therapeutics portfolio. The Hamburg-based startup had received EUR 7 million from MassMutual Ventures (MMV), HealthCap, Sparrow Ventures, Hevella Capital, and Expon Capital in May 2023.
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 has regularly advised HelloBetter over the past several years.
Counsel to HelloBetter
Heuking Kühn Lüer Wojtek:
Christoph Prochnau, LL.B. (Lead/ Venture Capital, Corporate/M&A),
Caroline Frohnwieser (Venture Capital),
Dr. Henrik Lay (Tax),
Katharina Waszczynski (Corporate/M&A), all Hamburg