Kooth raises £10m to accelerate United States expansion and platform upgrades
BGF contributed £3m to the oversubscribed round as the digital mental health provider scales its operations.
Kooth provides digital mental health and well-being services for young people, partnering with health authorities and institutions.
Kooth has secured £10m in an oversubscribed investment round, featuring £3m from BGF. The capital will support general platform enhancements and international expansion, particularly scaling up operations in the United States following a major contract win in California.
The digital mental health startup has established a strong presence in the UK, providing services licensed to the NHS, local authorities, and charities. Its platform currently reaches a significant portion of young people domestically, and the firm is now building out its American team to target additional state contracts.
BGF highlighted the business model, recurring revenues, and international potential as key drivers for the investment. The funding arrives as BGF continues an active period of deploying capital into quoted companies across the UK and Ireland.
From the founder
"We’re pleased to gain the backing of BGF on our share register. In addition to their funding, BGF’s network and support will give us the opportunity to continue building a world-leading platform for young people. With further traction now seen in the US platform, Kooth is well positioned to continue its international growth."
Tim Barker
CEO at Kooth
Investor perspective
"Kooth is a great example of a high-quality business with a proven business model, a significant recurring revenue stream, and now international growth potential. We have a strong conviction in the management team’s ability to execute the step-change in the scale of the business following the recent US contract win, which is a clear demonstration of Kooth’s credibility and expertise in its field. This is an exceptional achievement for a UK-based business that has purpose at its core, and we’re delighted to be playing a part in its continued expansion."
Simon Blackaby
Investor, BGF
Use of funds
- 01Continue product development
- 02Expand into international markets
