FPE Capital, a software and services-focused lower mid-market growth investor has invested in Togetherall, a London-based mental health software-as-a-service platform. The investment is the eighth from FPE Fund II.
Togetherall delivers 24/7, clinically moderated support to low acuity users via its SaaS-delivered platform. The business has established a position in higher education and is expanding into the corporate and public health sectors. In the past 12 months the platform has supported over 85,000 members across its key markets in the UK, the US and Canada.
London-headquartered FPE’s investment is largely into primary funding to support Togetherall’s growth in North America.
David Barbour, managing partner at FPE, said: “FPE is delighted to have completed this growth investment into Togetherall. Our expertise is focused on investing in high-quality companies operating in large markets where we can support the team in their growth ambitions.”
Henry Jones, chief executive of Togetherall, added: “We are excited to be partnering with experienced technology investors in FPE. Their experience in SaaS really sets them apart, and we are pleased to have them on board as we accelerate our growth into North America.”
FPE joins LGT IVUK as investors in Togetherall and FPE’s investment will make it the largest shareholder in the business. Henry Sallitt and Llewellyn John will join the board on completion.
FPE was advised on the transaction by Stephenson Harwood (legal), Luminii Consulting (commercial), Dow Schofield Watts (financial and tax), Intechnica (technical due diligence), and Continuum Ventures (management). Togetherall was advised by EY Corporate Finance and Taylor Vinters.
Date published: November 24, 2020