Behavioral health technology startup HelloHero has raised $4.3 million of its $5 million funding round, bringing the company’s total raised capital to at least $21.5 million, according to public filings. The round, disclosed on November 25, involved only existing investors and will be used to accelerate company growth as it prepares for a Series A round in the second quarter of 2023, according to founder and CEO Syed Mohammed. Founded in 2017, HelloHero began as Enable My Child, rebranding in November 2021 to reflect a broader range of services and a stronger focus on telehealth for children and adults. The company currently employs 306 staff and contractors across 41 states, serving both pediatric and adult populations with specialized behavioral health solutions.
Expanding Telehealth Services for Children
HelloHero’s pediatric services focus on telehealth for children and adults, covering mental health, speech and language pathology, physical therapy, and occupational therapy. The company works with K-12 school special education and student health programs, providing services through both B2B and B2C models. By integrating directly with schools, HelloHero ensures that children have consistent access to high-quality virtual care.
The pediatric service arm positions HelloHero among a growing number of youth-focused behavioral health tech companies seeking scale through strategic funding. Recent examples include in-school tele-behavioral health startup Hazel Health, which completed a $51.5 million Series C1 round in October, and London-based Healios Ltd., which raised $16 million in November to expand its U.S. operation, Meliora Health.
Adult Services and Long-Term Care
In addition to pediatric care, HelloHero offers services for adults, primarily in long-term care, including counseling and prescription management. By providing telehealth for children and adults, the company creates an integrated approach that serves multiple age groups and care settings. Public employers and unions are key partners in this expansion, allowing HelloHero to extend its impact to adults who need ongoing behavioral health support.
Funding History and Growth Plans
HelloHero has a history of strong fundraising momentum. In July 2021, the company raised 5 million dollars, and in December 2021, it secured 12.2 million dollars, with 7.7 million coming from an equity sale. Investors in past rounds include Silverton Partners, Correlation Ventures, Achieve Partners, and Service Provider Capital New England Fund. Additionally, Silicon Valley Bank provided a 4.5 million dollar line of credit to support ongoing operations.
The latest funding round is intended to operationalize four times or more growth for HelloHero. The capital will allow the company to expand staffing, enhance its platform, and extend reach into more schools, unions, and public employers nationwide, further advancing its mission of telehealth for children and adults.
The Behavioral Health Tech Investment Landscape
HelloHero’s continued growth comes amid a dynamic landscape for behavioral health technology. While digital health investment peaked in 2021, funding has cooled over the past two years. According to CB Insights, behavioral health tech investment through the third quarter of 2023 was down roughly 40 percent compared to 2021 levels. Despite this, startups like HelloHero, Hazel Health, and Brightline demonstrate that investors remain committed to companies with scalable solutions.
The current investment climate underscores the importance of targeting high-demand niches, such as school-based behavioral health and adult long-term care. By focusing on telehealth for children and adults, HelloHero is positioning itself to meet growing demand while navigating a tighter funding environment.
Looking Ahead
As HelloHero prepares for its Series A round in early 2023, the company is focused on scaling operations, expanding services, and continuing to serve children and adults nationwide. By leveraging telehealth for children and adults, HelloHero is establishing itself as a leading player in the behavioral health tech sector, offering innovation and operational excellence at a time when demand for remote care continues to grow.
With 4.3 million dollars already secured in its latest round, HelloHero is on track to accelerate its growth trajectory and solidify its position among the leading providers of telehealth for children and adults in the U.S.
