Czech mental health platform Hedepy raises nearly 100 million crowns

Hedepy co-founder and CEO Lukáš Krčil has announced new funding: the investment company Orbit Capital has provided the Czech company with nearly 100 million crowns in the form of a loan. The money will go toward new investments in healthcare services and tools based on artificial intelligence, Forbes reports.

A year ago Hedepy bought the Polish workplace mental health platform HearMe, and Krčil said even then that the company wanted to keep consolidating the fragmented European market. According to the company, debt financing will be a path to growth without another large equity round and noticeable dilution of ownership, which, it says, is helped by the good financial condition of the business.

“We see debt financing as confirmation that Hedepy has grown into an economically healthy and credible company,” Krčil said. The capital will go toward a stronger network of mental health services.

The plans include new acquisitions, primarily in the nine countries where Hedepy already operates. Besides online therapy, the company is expanding in-person care, preparing its own physical centers and building a medical arm of the group.

What is known about Hedepy’s scale: the company works with more than 1,200 mental health professionals; by the end of the year the total number of sessions held should exceed one million; the Hedepy for Business corporate programs are used by more than 300 European companies.

Orbit Capital partner Lukáš Macko described Hedepy as a company with a solid position in the mental health market in Central and Eastern Europe, one that has proven a repeatable model of integrating acquisitions and is moving toward financial sustainability. Orbit Capital is an investment company founded in Czechia seven years ago; it specializes in growth financing and lending to technology companies and scale-ups with global ambitions.

By the Around Prague newsroom