News

Heard Raises $15M to Build the Financial Back Office for Therapists

June 22, 2023
June 22, 2023
Andrew Riesen
Co-founder and CEO of Heard
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The use of telehealth and digital care delivery has led to a surge in independent practice among therapists.

This shift has allowed them to reach more people and provide better care, while also improving their work-life balance and financial stability. In fact, many therapists have seen their take-home income increase by over 50%. 

However, when we began developing Heard in 2019, we discovered that therapists often lack the tools, resources, and support necessary to manage their practices as small business owners. Rather than attracting new clients, many therapists simply want more breathing room and less mental burden. 

Balancing client care with business management can be overwhelming, as therapists spend upwards of 20-30 hours each week on client sessions and paperwork, in addition to the normal back-office tasks of a small business owner: record keeping, paying yourself, staying on top of legal and compliance activities. It’s hard, and it’s a lot. 

Heard was created to simplify these tasks and give providers time back. Our goal is to help therapists focus on their expertise and provide the best possible care, without the need for disparate and often costly professional services or DIY solutions.

Our focus remains helping therapists be therapists

We are excited to announce that we have received $15 million in new funding from investors led by Headline, with participation from GGV. These investors have a track record of supporting successful SMB and consumer tech companies. They share our mission of helping therapists succeed as entrepreneurs and in supporting small business owners. 

Combined with our previous funding rounds, including $10 million from our Series A funding last year and $1.3 million from our seed round earlier this year, we have now raised $26.3 million.

How we plan to invest the new funding

At Heard, we strive to support therapists and providers in achieving financial independence. Thanks to our recent funding, we can continue to focus on assisting therapists throughout their journey of starting, growing, and managing their businesses. 

Our main focus is on product development, with a particular emphasis on improving key bookkeeping, payroll, and tax workflows for therapists. As we move into the new year, we plan to introduce new financial services, including a self-service, cost-effective solution tailored to therapists in the early stages of their careers. 

We understand the importance of providing a superior product and operational experience at the intersection of taxes and personal finance. 

As therapists' businesses are personal, trust and quality is paramount. That's why we've brought in experienced leaders such as COO KK Mulligan and support leader Brandon Wolf. We're also in the process of hiring a VP of Engineering and a Head of Tax Operations to ensure that we surround ourselves with leaders who have built challenging, dynamic products in highly regulated environments all the way through scale.

If you're interested in joining us on our mission and contributing your voice to the cause, please check out our open roles and get in touch.

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Heard

is

an

all-in-one

financial

solution

for

therapists

that

combines

software

and

human

support

to

handle

bookkeeping,

taxes,

payroll,

and

more.

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