Last Updated on September 1, 2020 12:24 pm
An online counselling service that helps children and young adults to deal with mental health problems is to list on the stock market this week.Kooth, which was founded in 2001 and earns most of its revenue from the NHS, will sell £26 million of shares at a valuation of £66 million.
It aims to raise £16 million in fresh capital, with its owner selling £10 million of shares.The company offers a free, anonymised service that provides support through self-help tools, discussion groups and text-based consultations with counsellors.It was founded by Elaine Bousfield, a counsellor, and acquired by Root Capital, a venture fund, in 2015.
Kooth employs 300 people, including 165 clinical staff, and has recurring annual revenues of £13 million. Tim Barker, an entrepreneur and technology executive, joined as chief executive at the start of this year.
Read the full article at https://www.thetimes.co.uk/article/online-mental-health-counsellor-kooth-floats-to-fund-expansion-rcn8z7k88
Online mental health counsellor Kooth floats to fund expansion
Simon Duke
31 August 2020