Heard Technologies

Heard Technologies is a software platform that provides comprehensive financial management solutions tailored specifically for mental health therapists and practitioners. Its core offering includes an all-in-one bookkeeping software that automates income and expense tracking, accounting, tax preparation assistance, and payroll management. Launched in September 2019, Heard Technologies initially started as a referral network connecting therapists with full caseloads to those seeking new patients. However, after extensive consultations with their network of therapists, the company pivoted to address the administrative challenges faced by independent practitioners and small group practices.

Heard Technologies' platform is designed to streamline the back-office operations for therapists, allowing them to focus more on patient care. The software integrates seamlessly with telehealth platforms and electronic health record systems, enabling efficient tracking of income and expenses. Through its subscription-based model, solo practitioners pay USD 199 per month, while group practices pay USD 299 per month for access to the software and support from financial professionals. As of June 2023, the company has experienced a fivefold increase in both its customer base and revenue over the past year.

In May 2022, Heard Technologies secured USD 10 million in Series A funding, followed by an additional USD 15 million extension round in June 2023, bringing its total funding to USD 26.3 million. The company plans to utilize these funds to enhance automation, expand its offerings in areas such as practice formation, banking, and retirement planning, and scale its engineering and support teams.