Mental health firm that hired Prince Harry soars to £3bn with new cash
BetterUp is better off! Rich backers send the value of mental health start-up that hired Prince Harry soaring to £3bn
- BetterUp hired the Duke of Sussex as ‘chief impact officer’ in March
- The company has now raised £220million from investors, including big players from Silicon Valley
- Backers include investment firm Iconiq Capital – which manages funds for the likes of Facebook boss Mark Zuckerberg and Twitter founder Jack Dorsey
THE value of the California-based mental health start-up that hired Prince Harry has topped £3billion after securing new funding from some of Silicon Valley’s biggest players.
BetterUp, which took on the Duke of Sussex as ‘chief impact officer’ in March, has raised £220million from investors, valuing the company at around £3.4billion.
One of the leaders of the funding round was Iconiq Capital, a secretive investment firm which has managed the money of tech billionaires including Facebook boss Mark Zuckerberg and Twitter founder Jack Dorsey.
BetterUp, which hired Prince Harry in March, has topped £3billion after securing new funding from some of Silicon Valley’s biggest players
Other backers include Mubadala, a sovereign wealth fund connected to Abu Dhabi Crown Prince Mohamed bin Zayed.
BetterUp offers companies coaching regimes for their employees on topics ranging from mental fitness to nutrition and parenting. Its app costs around £181 per month for each user.
Customers include Google, the Hilton hotel chain and movie studio Warner Bros. BetterUp said the funding boost will help its expansion and ‘fuel new product innovation’.
The company recently announced plans to open a London of office and hire 75 staff.
Chief executive and co-founder Alexi Robichaux said: ‘This funding will continue to accelerate our mission to bring the most comprehensive and powerful suite of tools to individuals and help them thrive, unlock their peak performance and live with purpose and clarity.’
The latest funding round takes the total amount the firm has raised to £441million and follows a similar £92million injection in February.
While Harry (pictured) receives a salary from BetterUp, the firm has not disclosed how much he is paid or if he owns shares or stock options. The prince and Meghan have netted several lucrative deals since their move to California.
It was revealed last year they had signed a multi-year production deal with Netflix for content including documentaries, films and children’s programmes.
They also announced a podcasting deal with Spotify to produce content.
Both contracts are said to be worth tens of millions of dollars.
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