Startup of the Week: My Online Therapy

• My Online Therapy is helping to make therapy more accessible to those suffering with their mental health.
• The startup was founded in 2018 by Elettra Bianchi Dennerlein, Dr Elena Touroni, Vasileios Touronis and Dr Tom Pennybacker.
• So far, My Online Therapy has raised £4.5 million over 2 funding rounds.

While people are becoming increasingly more aware to the importance of mental health, there still remains substantial barriers for those in need of therapy. The most notable barriers currently include the cost, and in light of the COVID-19 pandemic, accessibility of therapists – with people encouraged to socially distance and have restricted interactions with those outside of their household.

Although the measures implemented are intended to help slow the spread of COVID-19 and protect the lives of those most vulnerable, with people adjusting to a more remote way of life, the isolation has made it difficult for those suffering with mental illness to access the face-to-face help they need.

This is where My Online Therapy can help. Founded in 2018, My Online Therapy claims to be the UK’s first virtual psychology clinic. The startup has been designed to provide clients with access to mental health care wherever, wherever, via their online platform.

My Online Therapy are helping to make mental health care more accessible to those who need it, offering private sessions online that cost less than face-to-face sessions. Not only does the startup’s offering make therapy more accessible in terms of its cost, but by offering sessions online it also makes this vital service more accessible during the current pandemic.

The startup was co-founded by Elettra Bianchi Dennerlein, Dr Elena Touroni, Vasileios Touronis and Dr Tom Pennybacker, and is said to be the “brainchild of a partnership between an innovative entrepreneur with a passion in mental health” (Elettra Bianchi Dennerlein) and The Chelsea Psychology Clinic – focusing on providing cutting-edge therapies for mental health.

So far, My Online Therapy have raised £4.5 million over the course of 2 funding rounds, its most recent round raising a substantial amount of this total back in December 2019 – £4.2 million. This December funding came from the Lighthouse Investment group – co-CEO and founder Dennerlein having commented the following on the matter:

“With psychological issues impacting so many people’s lives, My Online Therapy was established to provide easier access to mental health services.”

“By applying groundbreaking technologies, we plan to revolutionise the mental health space for those who have previously been restricted by salient barriers, such as cost, access and stigma, and we are excited to have the support of an incredible partner in the Lighthouse Investment Group.”