OpenUp, an Amsterdam-based mental wellbeing platform, has raised €20 million in funding led by Smartfin and Rubio Impact Ventures. The platform provides on-demand 1:1 coaching with psychologists, lifestyle experts, and financial coaches in 35+ languages, plus workshops and self-directed tools. The capital will accelerate European expansion and hiring.
EU Mental Health Funding Surges
The raise follows Moka.care's $16M Series A in 2025 for similar workplace mental health expansion. OpenUp's prior €15M Series A in 2022 brought total funding to €35M. This signals investor conviction in Europe's fragmented mental health market, where low EAP utilization under 5% drives demand for accessible alternatives.
Burnout Affects 30% of EU Workers
Nearly 30% of European employees experience stress, anxiety, or depression. Traditional EAPs suffer low utilization rates below 5%, leaving gaps in preventative support. Rising absenteeism due to mental health issues amplifies the need for anonymous, instant access platforms.
On-Demand Coaching Beats Waitlists
OpenUp differentiates with live video sessions available within 48 hours, no waiting lists, covering mental, physical, and financial wellbeing. Unlike content-heavy rivals like Unmind or async chat tools like Spill, it emphasizes human-led psychologists in 35+ languages. HR dashboards provide analytics for compliance and productivity insights.
As Gijs Coppens, CEO & Founder noted:
"Low-barrier access to professional support for employees? That should be the most normal thing in the world at every company."
Impact Investors Back Prevention
Smartfin led the round with returning investor Rubio Impact Ventures, signaling mission-driven growth capital for preventative wellbeing. Their involvement validates OpenUp's shift from reactive EAPs to proactive tools amid post-pandemic stress. Total funding now supports scaling to more enterprises like Rabobank and Decathlon.
Mental Health Apps Market Expands
Europe's mental health apps market stands at $1.99B in 2024, projected to reach $4.15B by 2030 at 15% CAGR. The broader EAP market hits $5.7B with 9.2% CAGR through 2033. Trends favor digital platforms integrating AI personalization and analytics over traditional services.
Founders Bring Proven Exits
CEO Gijs Coppens, a licensed healthcare psychologist, previously founded and sold iPractice, a mental health practice with 200 employees, to Smile Invest in May 2025. Co-founder Floris Rost van Tonningen co-founded Hyves, the leading Dutch social network acquired by TMG in 2010. Their blend of clinical expertise and tech scaling experience positions OpenUp strongly.
Expansion Targets New Hires
OpenUp plans to hire in sales, support, and psychologist roles across DACH and Benelux markets. Recent product updates include a redesigned app with AI search and Vitality Checks. With 2,000+ organizations and 1.5M users, it eyes broader European penetration serving 600k employees.