Koa Health, a digital mental healthcare provider offering personalized solutions backed by science, today announced it closed an oversubscribed €30 million ($36 million) Series A funding round. The round had a first close in October 2020, led by Wellington Partners Life Sciences and Ancora Finance Group,and has now been fully closed with key participations from MTIP and Akilia Partners, and further contributions from Creas Impacto, Sabadell Asabys, and Mundi Ventures.
Oliver Harrison, CEO of Koa Health said: “We know that there has been a greater demand for mental healthcare on both sides of the Atlantic as the stigma around mental health continues to decline. However, we still have a long way to go. At Koa Health, our mission is to deliver mental wellbeing for all. Access to mental healthcare is a human right that shouldn’t be buried by stigma, lack of access, or affordability. With this round of funding, we’ll be able to scale our digital mental health solutions and offer a personalized, more affordable and effective solution for people to manage their mental health.”
The funds will be used to fuel growth and expansion for Koa Health, after it was announced in November 2020 that the company is now operating independently of Alpha, Telefónica’s moonshot factory (Telefónica is the global telecommunications company headquartered in Spain). Koa Health will focus on accelerating product development, including expanding content for its digital mental wellness solutions, making programs available in additional languages, and expanding the diagnoses that Koa’s solutions can support. This includes bolstering Koa Health’s research and development to further its investment in technology that powers personalized care. Koa Health will also use this new funding to expand its international footprint including the US.
Announcement: Koa Health Secures €30M to Accelerate Growth