BetterHelp

BetterHelp is an online portal that provides direct-to-consumer access to behavioral health services. The online counseling and therapy services are provided through web-based interaction as well as phone and text communication.^[1] BetterHelp was founded in 2013 by Alon Matas and co-founder Danny Bragonier, and acquired by Teladoc, Inc in 2015. BetterHelp maintained its brand name post acquisition and continues to provide online counseling services to consumers.

History

BetterHelp was founded by Alon Matas in 2013. Alon founded the company after he faced personal challenges finding professional counseling services that accommodated his schedule. With the mission to help all those facing similar challenges in gaining access to professional counseling, Alon partnered with co-founder Danny Bragonier to develop BetterHelp’s web-based counseling portal and therapist directory.

Services

BetterHelp is a web-based platform that allows patients to interact with counselors and therapists online in a private web-based setting. Client and patient are provided a dedicated "room" on its website, which acts as a private and secure online portal for communication.^[2] The “room” is open 24/7 and can be accessed from any Internet-connected device from any physical location.^[3]

Acquisition

In 2015, BetterHelp was acquired by Teladoc, Inc., a telehealth company that uses telephone and videoconferencing technology to provide on-demand remote therapy. Teledoc acquired BetterHelp for $3.5 million in cash and a $1.0 million promissory note and with an agreement to make annual payments to the sellers equal to 15% of the total net revenue generated by the BetterHelp business for each of the next three years.^[4]

References