Heard Technologies

High-Level Overview

Heard Technologies, Inc. is a Seattle-based fintech company that develops an all-in-one financial management platform tailored for independent therapists and wellness practitioners, combining software with human support for bookkeeping, tax preparation, payroll, and business entity formation.[1][2][3][5] It serves solo practitioners and group practices, solving the common pain point of therapists lacking financial training by automating patchwork systems like spreadsheets and expensive accountants, allowing them to focus on clients.[2][5] With $26.3M raised across funding rounds up to Series A-II (latest $15M about two years ago), the company reports $13.9M in revenue and employs around 66 people, showing steady growth momentum through product scaling, banking integrations, and positive user testimonials on ease and support.[3][4][5]

Origin Story

Heard was founded in 2019 by Andrew, an accountant married to a therapist, and Victoria Li, a software engineer at a mental health startup, after recognizing the financial struggles of therapists transitioning to private practice without proper tools or training.[2][3] Headquartered in Seattle at 500 Yale Avenue North (with another address listed as 113 Cherry St), the duo launched the first financial software specifically for this niche, driven by a personal mission to empower wellness practitioners.[2][3] Early traction included rapid growth, with key milestones like a $10M investment, another $15M round for expansion, and Victoria Li's recognition on Forbes 30 Under 30, alongside surveys highlighting therapist rate increases amid demand.[2][3]

Core Differentiators

• Tailored All-in-One Solution: Unlike generic tools, Heard integrates bookkeeping, personalized tax estimates/filing, payroll processing (with taxes filed), S corp setup, and financial reports into a therapist-specific dashboard, blending software automation with human experts.[1][2][5]
• Superior User Experience: Easy-to-navigate platform with 24/7 help center, specialized email support, and quick turnaround; users praise reduced stress, time savings, and proactive service over DIY methods.[5]
• Human + Tech Hybrid: Combines engineering, accounting, and design for seamless handling of niche needs like reasonable salary calculations, outperforming spreadsheets or costly pros.[1][2][4]
• Proven Growth and Backing: $26.3M from investors like Act One Ventures, Founders' Co-op, and Headline; strong retention since 2021 launches and automation focus.[2][3]

Role in the Broader Tech Landscape

Heard rides the booming mental health and wellness economy, where demand for therapy has surged post-pandemic, yet practitioners face administrative burdens that deter private practice scalability.[2] Timing aligns with fintech democratization—tailored tools for underserved niches like health pros—fueled by market forces such as rising therapist rates (per Heard's 2023 survey) and integrations with banking/retirement partners.[2][3] It influences the ecosystem by powering independent practices, reducing reliance on big healthcare systems, and enabling wealth-building for solos/groups, much like vertical SaaS successes in other pro services.[3][5]

Quick Take & Future Outlook

Heard is poised to deepen automation and partnerships, leveraging its $15M for scaling amid therapist shortages and wellness market expansion.[3] Trends like AI-driven admin (e.g., revenue cycle tools from peers) and S corp optimizations will shape growth, potentially evolving Heard into a full practice management hub.[3] As fintech for pros matures, its niche focus and mission-driven team position it to amplify impact, empowering more therapists to thrive—echoing its origin as a heartfelt fix for overlooked financial chaos.[2]