31 January 2020 -
Digital therapy provider Selfapy receives EUR 6 million: Medtech investor SHS joins investor pool
- Selfapy is Germany’s leading provider of online therapy for mental stress and is already cooperating with 16 health insurance funds
- SHS is expecting strong impulses for digital health companies from Germany’s new Digital Healthcare Act (DVG)
Fifth investment of SHS’ fifth fund: Medical technology and life science investor SHS Gesellschaft für Beteiligungsmanagement of Tübingen, Germany, has invested in Berlin-based digital health company Selfapy GmbH. Besides SHS, Selfapy’s existing investors Think.Health, VC Fonds Kreativwirtschaft Berlin and High-Tech Gründerfonds also participated in the EUR 6 million financing round. The capital injection has been earmarked for national and international growth, further developing Selfapy’s existing products and further clinical validation of Selfapy’s online
Selfapy is Germany’s leading supplier of online therapies for psychological stress. Sufferers can take part in its online therapy programs – that are based on cognitive behavioral therapy – anonymously, flexibly, and accompanied by psychologists. Selfapy addresses the needs of individuals with stress symptoms, depression, and anxiety and eating disorders, and has already successfully treated thousands of patients. The company thus closes a gap in care for mentally stressed patients and fits optimally to the traditional healthcare system. The empirical findings of a clinical study conducted jointly with Berlin’s Charité hospital are to be published shortly. Besides the success of Selfapy’s therapies, the study also focuses on the impact of online therapy on healthcare economics in general.
The company is currently cooperating with 16 prominent health insurance funds and also operates, besides Germany, in Switzerland. Following the endorsement of the DVG by the German Bundestag in November, Selfapy is now aiming to achieve the reimbursement of costs for all online courses offered to all insured persons in the future.
“With SHS, we’re delighted to have found an investor with industry experience that will accompany us in our next growth steps. We’d like to use the funds of this financing round to further develop our products and offer effective therapy to all those seeking psychological assistance,” says Selfapy founder and CEO, Nora Blum.
“Patient acceptance at Selfapy is showed imposingly by a high compliance rate. We’re very happy to be accompanying Selfapy with equity for its future growth path,” says SHS Senior Investment Manager, Dr. Cornelius Maas.
Farina Schurzfeld, founder and CMO of Selfapy, explains: “The ratification of DVG has made it all-the-more-important for us to align and offer our online program in keeping with the highest medical and scientific requirements. With SHS’s commitment, we can ensure our products will always meet the highest quality standards and be highly effective over the long term.”
Hubertus Leonhardt, Managing Partner at SHS, says: “With its 16 already existing cooperations with health insurance funds, Selfapy has proven itself to be at the forefront of the latest digital healthcare models. We are expecting further tailwind for Selfapy thanks to the positive changes in the area of reimbursement. We now believe that the digital health market has great potential. That’s why we’re looking into further investments in this dynamic field with our current SHS V fund.”
Selfapy is Germany’s leading provider of online therapies for mental stress and was formed in Berlin in February 2016 by Nora Blum, Kati Bermbach and Farina Schurzfeld. 18 million people in Germany suffer from a psychological disorder such as burnout, depression or anxiety. They often have to wait up to six months for treatment. Selfapy offers accompanied, anonymous, and flexible support for people suffering from psychological stress. The threemonth program was developed by experienced psychologists and is based on approaches used in cognitive behavioral therapy. Further information: http://www.selfapy.de
About SHS Gesellschaft fuer Beteiligungsmanagement mbH:
SHS Gesellschaft fuer Beteiligungsmanagement is based in Tuebingen, Germany, and invests in medical technology and life science companies with a focus on expansion financing, changes in shareholder structures, and successor situations. SHS holds minority as well as majority interests. The company was founded in 1993 and has since gained extensive experience as an industry investor, which supports the growth of its portfolio companies through a network of partnerships regarding the introduction of new products, regulatory issues or entering new markets. The SHS fund’s German and international investors include professional pension insurers, retirement funds, strategic investors, funds of funds, family offices, entrepreneurs, and the SHS management team. The AIFM-registered company invests up to EUR30 million in equity capital and volumes exceeding this amount are implemented with a network of co-investors. SHS is currently investing from its fifth fund. The fund has received capital commitments of more than EUR 130 million. Further information: https://www.shs-capital.eu
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