HEYR Company Profile

Background

Company Overview

HEYR is a London-based mental health technology company founded in 2021. The company specializes in developing AI-driven applications that integrate Cognitive Behavioural Therapy (CBT) and psychological techniques to support users in managing their mental health. Targeting the Gen Z demographic, HEYR focuses on providing accessible and stigma-free mental health support through a chat-based mobile application.

Mission and Vision

HEYR's mission is to make mental health a priority for everyone, everywhere. The company aims to empower young individuals to take charge of their mental health by offering digital experiences that are culturally sensitive and personally relevant. By integrating evidence-based therapies with AI and gamification, HEYR seeks to promote self-care and resilience among its users.

Industry Significance

Operating within the mental health and wellness industry, HEYR addresses the growing need for accessible mental health support, particularly among young adults. The company's innovative approach combines technology with psychological science to offer scalable and effective mental health solutions. This positions HEYR as a significant player in the digital health sector, contributing to the evolution of mental health care delivery.

Key Strategic Focus

Core Objectives

Accessibility: Provide easily accessible mental health support to young adults, reducing barriers such as stigma and geographical limitations.

Engagement: Utilize gamification and reward systems to encourage regular use and active participation in mental health management.

Cultural Sensitivity: Develop content and features that resonate with diverse cultural backgrounds, ensuring inclusivity and relevance.

Areas of Specialization

Digital Mental Health Solutions: Design and implement AI-powered applications that deliver therapeutic interventions and psychoeducation.

Youth Mental Well-being: Focus on the unique mental health challenges faced by the Gen Z demographic, tailoring solutions to their needs.

Key Technologies Utilized

Artificial Intelligence (AI): Employ machine learning algorithms to personalize user experiences and adapt content based on individual needs.

Cognitive Behavioural Therapy (CBT): Integrate evidence-based CBT techniques to help users identify and modify negative thought patterns.

Gamification: Incorporate game-like elements and reward systems to enhance user engagement and motivation.

Primary Markets Targeted

Geographical Focus: Initially targeting the United Kingdom, with plans to expand into the European Union and African markets.

Demographic Focus: Young adults aged 18–30, particularly those from diverse cultural backgrounds seeking accessible mental health support.

Financials and Funding

Funding History

2021: Founded in London, England.

September 2022: Participated in the Tech Nation Libra program, an incubator/accelerator initiative.

Total Funds Raised

Specific details regarding the total funds raised by HEYR are not publicly disclosed.

Notable Investors

HEYR has been supported by various investors and programs, including:

Tech Nation Libra: A UK government-backed initiative supporting high-growth tech companies.

Propel@YH: A health tech accelerator program.

DigitalHealth.London Launchpad: An accelerator program for digital health startups.

Intended Utilization of Capital

While specific details on the utilization of raised capital are not publicly available, it is anticipated that funds are allocated towards:

Product Development: Enhancing the AI capabilities and therapeutic content of the application.

Market Expansion: Scaling operations to reach a broader user base across different regions.

Research and Development: Conducting studies to validate the effectiveness of the platform and inform future improvements.

Pipeline Development

Key Pipeline Candidates

HEYR's primary product is its AI-driven mental health application, which is continually updated with new features and content to enhance user engagement and therapeutic effectiveness.

Stages of Development

Ongoing Development: Continuous refinement of AI algorithms and integration of user feedback to improve the application's performance and user experience.

Target Conditions

Mental Health Challenges: Addressing issues such as anxiety, depression, and stress among young adults.

Anticipated Milestones

Feature Releases: Regular updates introducing new therapeutic modules, gamification elements, and cultural content.

User Growth: Achieving significant user acquisition milestones in target markets.

Technological Platform and Innovation

Proprietary Technologies

AI-Powered Personalization: Utilizing machine learning to tailor content and interventions to individual user profiles.

Integrated Reward System: Developing a gamified reward mechanism to incentivize regular engagement and positive mental health practices.

Significant Scientific Methods

Cognitive Behavioural Therapy (CBT): Applying CBT principles to help users identify and change negative thought patterns.

Positive Psychology Frameworks: Incorporating models like PERMA to promote well-being and resilience.

Nudging Techniques: Employing behavioral science strategies to encourage healthy habits and self-care routines.

Leadership Team

Key Executives

Kevin Kwong: Co-founder at HEYR, focusing on building the next-generation brain economy and promoting mental health equity.

Ling-Hsuan (Delphine) Hsieh: Data Analyst with experience in AI, e-commerce, and travel, previously at Klook.

Leadership Changes

No significant leadership changes have been publicly reported.

Competitor Profile

Market Insights and Dynamics

The digital mental health market is experiencing rapid growth, driven by increasing awareness of mental health issues and the demand for accessible, technology-driven solutions. The Gen Z demographic, in particular, seeks platforms that offer personalized and stigma-free support.

Competitor Analysis

Moka.care: Offers a mental health platform focusing on employee well-being.

Lumino: Provides AI-driven mental health support tailored to individual needs.

Mental Snapp: Develops tools for mental health monitoring and support.

Strategic Collaborations and Partnerships

Imperial College London: Collaborating with the Self-Care Academic Research Unit (SCARU) to advance machine learning-enabled, gamified reward platforms.

Z Zurich Foundation: Partnering to pilot the HEYR app in Tanzania and Zimbabwe, aiming to improve mental health accessibility and reduce stigma.

Operational Insights

HEYR differentiates itself through its culturally sensitive approach, integrating diverse cultural narratives and subcultures into its platform. This inclusivity fosters a sense of community and relevance among users from various backgrounds.

Strategic Opportunities and Future Directions