Wellbee, a psychotherapy and personal development platform, was purchased by Benefit Systems, the market leader in employee benefits, four years after its inception. The primary investor and co-founder, the Tar Heel Capital Pathfinder fund, has exited the company. Wellbee will continue to grow as part of Benefit Systems, building its position as a market leader in mental health in Poland.
Wellbee connects patients with suitably chosen specialists in the field of mental health. The platform operates in both B2C and B2B models, offering users access to over 300 verified experts in psychotherapy, psychiatry, coaching, and other specialized mental health and wellbeing services. Wellbee also takes psychoeducational measures, raising awareness about mental health by providing patients with courses, articles, podcasts, and events designed by top experts.
So far, several tens of thousands of users have benefited from Wellbee’s services, including individual patients and company employees. Wellbee is a wellbeing partner for such business clients as Canon, E.ON, Brenntag, and EPAM.
The co-founders of the company are Paweł Chrzan (who led the R&D department at Booksy before establishing Wellbee and also had previous experiences at Facebook and Google) and Dariusz Milewski (a strategist with years of experience working for top companies in the market, including PwC).
“Thanks to a fantastic team as well as the support of the investors, we have been able to build a market leader. We are proud to have directly helped tens of thousands of people and inspired hundreds of thousands to take care of their mental health through educational activities. Working with Benefit Systems will allow us to continue developing the product, including preventative technologies that facilitate early identification of potential problems and offer tailored solutions from a broad range of Benefit Systems and Wellbee services.”– Paweł Chrzan, Co-founder of Wellbee
Wellbee was established in 2020. The impetus for its establishment was a growing interest in psychotherapy services, further reinforced by the COVID-19 pandemic. The company developed since its inception as part of the Tar Heel Capital Pathfinder fund’s portfolio, which actively supported the management team from validating the idea up to the exit. The fund aided in strategy, product development, and securing additional rounds of financing. In 2022, WP2 Investments invested PLN 3.5 million in the company, and in 2023, Wellbee added bValue Fund to its group of investors.
“We built the company collaboratively with the founders. Together with Paweł, who was responsible for Wellbee’s product concept from the start, we refined the business model and supported the team’s efforts to enter the B2C track. The joining of Darek, with his expertise in advisory services for the enterprise sector and knowledge about mental health sector and business models, accelerated the development of B2B offerings on the platform. The experience and dedication of both founders led the company to the stage of becoming Poland’s leading online psychotherapy provider and attracting the interest of a strategic industry investor.”– Radosław Czyrko, Managing Partner of the Tar Heel Capital Pathfinder fund
The current transaction, along with earlier sales of shares, brought a tenfold return on investment to the fund.
“We identified online psychotherapy as one of the most promising areas for investment in the digital health sector. This market understanding allowed us to get ahead of a trend that now appears obvious across the whole sector.”– Maciej Kosuń, Investment Manager at Tar Heel Capital Pathfinder
Wellbee will continue to operate as part of Benefit Systems. The company plans to leverage the synergy and potential from collaborating with Poland’s employee benefits market leader to strengthen the development of the B2B segment.
“Over the past four years, we have not only gained the trust of individual clients but also of firms. Business clients increasingly understand that caring for employees’ mental health is no longer just a benefit, but a standard that translates into tangible business results. Thanks to Benefit Systems’ strong market position, we will be able to reach thousands of new companies and millions of their employees in Poland and abroad with our support.”– Dariusz Milewski, CEO and Co-founder of Wellbee
Another investor, WP2 Investments, also exited Wellbee.
“Our investment in Wellbee was a more than two-year adventure with a company where literally everything clicked into place. It’s a model project, as Wellbee saw the formation of a perfect, complementary founding duo. The company addresses a significant social problem, and the firm demonstrates incredible traction with multiple years of linear business growth. The investors secure financial success by selling the company to a strategic investor. It was also an ideal fit for our portfolio, as impact investing is one of the pillars of our work.”– Wojciech Pysiewicz, co-founder of WP2 Investments.
For the Tar Heel Capital Pathfinder fund, the exit from Wellbee is another success in recent years with a renowned industry investor. The fund plans to invest in approximately 30 new projects in the near future, using funds from a newly launched investment vehicle.
Source: https://managerplus.pl/platforma-wellbee-przejeta-przez-benefit-systems-60417
