Kara Connect
Secure digital platform for professionals in healthcare, education and welfare.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor investor | €0.0 | round |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
| investor investor | €0.0 | round | |
* | $6.3m | Series A | |
| Total Funding | 000k | ||
| EUR | 2016 | 2017 | 2018 | 2019 | 2020 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | 105 % | (30 %) | (73 %) | 158 % | 146 % | - | 108 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | 96 % | 24 % | (270 %) | (139 %) | 44 % | - | - |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | 71 % | (16 %) | (509 %) | (279 %) | (75 %) | - | - |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article, Dealroom estimates
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Kara Connect operates as a specialized platform focused on employee wellbeing, providing businesses with a system to support their teams. The company was founded in Reykjavik, Iceland, in 2014 by Thorbjorg Helga Vigfusdottir and Hilmar Geir Eidsson. Vigfusdottir, who serves as CEO, has a background in educational and cognitive psychology and a history in Icelandic politics, where she focused on improving access to specialist care. This experience revealed opportunities to use technology for early, preventative support, leading to the creation of Kara Connect.
The company's core offering is a customizable "Wellbeing Hub" for employers. Through this platform, employees gain direct and confidential access to a network of over 3,000 vetted professionals across more than 60 specialties, including mental health, financial counseling, and support for issues like menopause. Services are available in over 30 languages, and support extends to employees' families. The business model is distinct from traditional Employee Assistance Programs (EAPs) by emphasizing employee choice and direct access, which drives higher engagement rates. Companies purchase credits for their employees, who can then independently book one-on-one sessions. This approach frees managers from mediating personal issues and provides employees with confidential, timely support.
For professionals on the platform, Kara Connect functions as a comprehensive practice management tool, providing a secure environment for client communications, booking, and payment processing. The company has steadily grown, securing a total of $9.48 million in funding over three rounds. Key funding milestones include a €1.5 million seed round led by Crowberry Capital in 2018, a €1.2 million round in 2019 from investors including The New Business Venture Fund, and a $6.3 million Series A round in 2022 led by the Idunn venture fund. This financial backing has supported the company's expansion into European markets.
Keywords: employee wellbeing, mental health support, workplace wellness, corporate wellness platform, teletherapy, employee benefits, professional counseling, burnout prevention, employee retention, HR technology, B2B wellness, digital health, virtual counseling, employee assistance, mental wellness, organizational health, corporate mental health, Iceland, Thorbjorg Helga Vigfusdottir, Wellbeing Hub