Togetherall secures $10 million investment from FPE Capital
- Established mental health platform, Togetherall, secures $10 million investment
- Investment from growth investor FPE Capital follows Togetherall’s accelerated expansion in UK and North America
- Togetherall provides a safe, clinically managed online community to support people with their mental health via 24/7 peer-to-peer support
Leading online mental health platform, Togetherall, has secured $10 million investment from software and services growth investor, FPE Capital LLP (FPE).
The investment follows Togetherall’s accelerated expansion into the North American market, with a focus on US market growth, as well as continued growth across the UK and Canada into higher education, corporate and health sectors. FPE will sit as the largest investor alongside social impact investor, Impact Ventures UK (IVUK), concluding the eighth investment from FPE Fund II.
Togetherall provides a population based, clinically managed online community to support people with their mental health via 24/7 anonymous peer-to-peer support. Launched in 2007 it has helped over a quarter of a million members to date and nearly 90,000 individuals in the last 12 months.
FPE Capital’s investment into the online mental health platform boosts Togetherall’s ambition of providing a greater positive impact for all who use the service and will help increase the speed of product development and the number of resources to members.
As those seeking mental health treatment face increased barriers in getting the support they need, with demand often outstripping the supply of services (Centre For Mental Health), Togetherall assists in breaking down barriers to accessing traditional, or one to one support, as well as the stigma that often comes when reaching out for mental health support.
A population-based solution with the aim to provide mental health support for all, the clinically moderated online platform allows for people with mild to moderate mental health conditions to speak anonymously to their peers about their feelings and experiences. Togetherall also offers a variety of courses and resources to allow users to self-manage their mental health, all of which is moderated by trained practitioners 24/7 who ensure a safe and uplifting environment.
Commenting on the investment Henry Jones, Togetherall CEO, said: “This is a really significant milestone for our company.”
“Togetherall’s goal is to build a global business giving as many people as possible a safe, online community where they can offer and receive support at times of anxiety and isolation. Partnering with FPE, such an experienced technology investor, is a huge boost to our ambitious plans for the growth of our impact.”
As new lockdown restrictions set in across the UK, more and more people will experience heightened levels of isolation, anxiety and depression, without having access to mental health support. Togetherall is well-positioned to respond to this increased demand.
Kevin Bone, Partner at Impact Ventures UK, reflects on the journey with Togetherall to date, “IVUK has backed Togetherall since 2014 as it has grown from a great idea to a flourishing business helping hundreds of thousands of people in the UK and across North America. We warmly welcome FPE and very much look forward to working with them, and the exceptional Togetherall team, to bring its services to the many millions of people in need”
Togetherall joins other technology product focussed investments in FPE’s portfolio, including: Questionmark, Masstech, Kallik and MaxContact. FPE’s growth capital investment is largely into primary funding in order to support the business in accelerating its rapid growth into North America.
“FPE is delighted to have completed this exciting growth investment into Togetherall”, said Henry Sallitt, Co-founder & Managing Partner at FPE, “this is an organisation that combines a successful SaaS business model with real purpose and social impact. We look forward to working with Henry and the team to support their growth ambitions”.
ENDS
For further information please contact Alec Harris, ZPB Associates at alec.harris@zpb-associates.com or 07597571575
Notes to editors:
About Togetherall:
Established in 2007 as Big White Wall, Togetherall, is a leading online mental health service that provides millions of people throughout the UK, New Zealand, Canada and the US access to community and professional support 24 hours a day, 365 days a year. The service is registered with the Care Quality Commission (CQC) and is clinically proven to help those who are struggling with stress, isolation, anxiety, depression and other common mental health issues. Togetherall has supported large populations with their mental health since launch in partnership with clients in the education, health, corporate and charity sectors.
About FPE Capital:
FPE is a specialist growth private equity investor focussed on the software and services sectors. It invests in lower mid-market UK and Irish software and services companies with advantaged business models that offer significant growth potential in large markets that are undergoing structural change. It is authorised and regulated by the Financial Conduct Authority. www.fpecapital.com
Investor Press Release:
FPE Capital invests to accelerate growth at Togetherall, a leading digital mental health platform
Investment is eighth from FPE’s software and services focussed Fund II
FPE Capital LLP (‘FPE’), the software & services focused lower mid-market growth investor, announces that it has invested in Togetherall, a leading mental health SaaS platform.
This marks the eighth investment from FPE Fund II. Togetherall joins other SaaS product focussed investments Questionmark, Masstech, Kallik and MaxContact in FPE’s portfolio.
Togetherall is the leading digital mental health community, delivering 24/7, clinically moderated support to low acuity users via its SaaS-delivered platform. The business has a strong existing position in Higher Education and is rapidly expanding into the Corporate and Public Health verticals. In the last twelve months the platform has supported over 85,000 members across its key geographies in the UK, USA and Canada.
FPE’s growth capital investment is largely into primary funding to support the business in accelerating its rapid growth in North America. This echoes the driver of growth in FPE’s successful exits of Fund I investments Small World Financial Services and Creditcall where US expansion was a key element of equity value. FPE will support the business in its growth journey through its own domain experience and the introduction of functional experts and complementary executive talent.
David Barbour, Managing Partner at FPE, commented: “FPE is delighted to have completed this growth investment into Togetherall. Our expertise is focussed on investing in high quality companies operating in large markets where we can support the team in their growth ambitions. We look forward to working with Henry and his management team in the coming years.”
Henry Jones, CEO of Togetherall, added: “We are excited to be partnering with experienced technology investors in FPE. Their experience in SaaS really sets them apart, and we are pleased to have them on board as we accelerate our growth into North America.”
FPE joins LGT IVUK as investors in Togetherall. FPE’s investment will make it the largest shareholder in the business. Henry Sallitt and Llewellyn John will join the Board from completion.
The FPE investment was led by Henry Sallitt, Llewellyn John and Chris Kay. FPE was advised on the transaction by Stephenson Harwood (Legal), Luminii Consulting (Commercial), Dow Schofield Watts (Financial and Tax), Intechnica (Technical DD), and Continuum Ventures (Management).
Togetherall was advised by EY Corporate Finance and Taylor Vinters.
-ENDS-
Media inquiries:
FPE
David Barbour
Managing Partner
+44 (0) 203 912 8801
Togetherall
Henry Jones
CEO
+44 (0) 7958 754 880
Notes to Editors:
FPE Capital
FPE is a specialist growth private equity investor focussed on the software and services sectors. It invests in lower mid-market UK and Irish software and services companies with advantaged business models that offer significant growth potential in large markets that are undergoing structural change. It is authorised and regulated by the Financial Conduct Authority. www.fpecapital.com
Togetherall
Togetherall is the leading digital mental health community, delivering 24/7, clinically moderated support to low acuity users via its SaaS-delivered platform. www.togetherall.com
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