Ieso Digital Health closes £18m funding round
Written by Anthony Strzalek
Ieso Digital Health, the UK’s largest provider of online mental healthcare, has announced the successful closure of an £18 million funding round.
The investment will help Ieso accelerate growth in the UK as well as the commercialisation of its technology platform in the US. The funding round marks the largest amount raised by a digital behavioural health business in Europe to date.
Ieso makes evidence-based cognitive behavioral therapy (CBT) available to more than nine million people and is available through the NHS as part of Improving Access to Psychological Therapies (IAPT).
Ieso CEO Dan Clark commented: “This financing is a great vote of confidence in Ieso’s ability to become a global leader in mental health delivery and our technology which lies at the intersection of online evidence-based CBT, dynamic artificial intelligence learning, real time therapist support and mobile accessibility, ultimately creating high quality, accessible CBT therapy.
“With our technology and clinical data science we are simultaneously improving patient outcomes and reducing costs to the healthcare system.”
This funding round introduces leading venture capital investor Draper Esprit to the company, who co-led this round, committing £7.5 million alongside existing investor Touchstone Innovations, who invested £8 million.
Vishal Gulati, VC partner at Draper Esprit, added: “Ieso is a perfect example of the kind of company we like to invest in in the digital health space. It has a proven and experienced management team; a strong clinical platform; strict adherence to the evidence base; and a scalable model that is delivering strong outcomes with high levels of quality control.”