# Oliva Financial Model

B2B workplace mental health platform providing personalised therapy, care navigation, and manager training, sold to employers via SaaS subscription.

- Canonical: https://finamodel.com/startups/oliva
- Excel download: https://finamodel.com/startup-models/oliva.xlsx
- Category: Health-tech
- Model type: SaaS ARR / Valuation
- Funding round: Pre-seed
- Funding: $2.9M
- Founded: 2021
- Geography: UK (regulatory references: BACP accreditation; Deloitte UK / Personnel Today sources implied).
- Customer: B2B

## About the company

Oliva provides personalised therapy, care navigation, and manager training as a workplace mental-health benefit. It helps employers offer employees access to clinical support and guidance, while giving managers tools intended to improve the wider work environment.

It sells recurring employer contracts, likely priced per covered employee per month. Growth depends on employer wins, covered employees, engagement, therapy utilisation, clinical capacity, expansion into additional populations, and renewal through annual benefits and procurement cycles.

The model forecasts employers, covered employees, PEPM revenue, therapy utilisation, clinician cost, expansion, and renewal. It includes provider-network capacity, care-navigation operations, enterprise sales, customer success, gross margin, cash burn, and runway.

## What's included

- 5-year monthly revenue build with stage-appropriate growth assumptions
- Full P&L, headcount plan, and operating-expense schedule
- Cash-flow statement, runway, and burn-rate tracking
- Valuation via exit multiple with a DCF cross-check
- Returns analysis with MOIC and IRR
- Unit economics including CAC, LTV, payback, and cohort retention

## Product & value proposition

- Stepped-care mental health platform for employers.
- Employee-facing:
  - Digital drop-in session: one-hour video call with a trained psychologist.
  - Care Navigator: personal, in-house trained mental health professional who guides the employee, answers questions, matches them to the right therapist, and maintains ongoing contact via secure instant messaging.
  - Online therapy course: regular sessions (up to 6 / 16 / 25, depending on severity tier) with a matched therapist.
- Manager-facing: training workshops + on-demand 1-to-1 support sessions with a qualified psychologist.
- Platform: Slack integration; employees self-serve session booking, personal notes (encrypted), wellbeing tracking, and video sessions. Setup time ~10 minutes for HR/benefits manager.
- Quality mark: BACP (or equivalent) accredited therapists; Chief Clinical Officer leads in-house team; 98% therapist-matching success rate.

## Revenue model

Not explicitly stated in deck. Inferred model:
- B2B SaaS subscription sold to employers (HR/benefits buyers), likely priced per employee per month (PEPM) - the standard model for employee-benefit platforms; no price point disclosed.
- Revenue is a function of: number of employer accounts × average company headcount × PEPM rate.
- Distribution channel: direct sales / inbound (Slack App Store integration is a discovery/activation layer).
- No freemium, marketplace fee, or per-session billing model mentioned.

## Traction & metrics

- 98% therapist-matching success rate.
- Example patient outcome: 39% increase in wellbeing after 6 sessions completed. - shown as a product UI screenshot, not necessarily a portfolio average.
- No revenue figures, ARR, customer count, churn, NPS, or growth rates shown in deck.

## Competition / moat

- Evidence-based stepped-care model (clinical rigour vs. generic EAP).
- In-house Chief Clinical Officer + curated, BACP-accredited therapist network.
- Care Navigator as a human concierge layer - differentiates from pure self-serve apps (Calm, Headspace for Work, etc.).
- Slack-native experience reduces friction to zero.
- Founder story (CEO: TravelPerk founder; CCO: scaled digital CBT to 100,000+ patients).

## Team & funding ask / use of funds

- Javier Suarez - CEO & Co-founder. Previously: innovation lead at Booking.com; founded TravelPerk (300+ employees, thousands of corporate customers).
- Dr. Sarah Bateup - Chief Clinical Officer. BioBeat Top 50 female UK healthcare leaders; built one of the first UK digital CBT services (scaled to 100,000+ patients).
- Sançar Sahin - CMO & Co-founder. Previously: marketing at GetApp, Hotjar, Typeform (built Typeform's marketing team from scratch).

## Recommended financial model

- **Archetype + why:** B2B SaaS PEPM model. Revenue is driven by employer client count × average seats (headcount covered) × monthly per-employee fee. This is the standard structure for HR-tech benefits platforms (Lyra Health, Modern Health, Koa Health comps). A 3-statement build is secondary; the core output is an ARR waterfall with cohort-level net revenue retention.
- **Forecast horizon & granularity:** 3 years, monthly for Year 1, quarterly for Years 2–3.
- **Key drivers & assumptions:**
  - Number of new employer clients signed per quarter - ramp from 2–3/month in early quarters, growing with sales headcount additions.
  - Average employee headcount per employer - target segment: 50–500 employees (mid-market tech/professional services); use 150 as base case.
  - PEPM price - £8–£15/employee/month (consistent with UK mental-health-benefit platforms; no deck figure).
  - Utilisation / seats covered vs. total headcount - employers typically cover 100% of headcount on contract.
  - Gross revenue retention (logo churn) - 85–90% annual logo retention for Year 1–2, improving to 92%+ as product matures.
  - Net revenue retention (expansion via headcount growth) - 105–110% NRR; employer headcount grows over time.
  - Session delivery cost (therapist cost of revenue):
    - Stepped-care model implies variable cost per utilising employee: Everyday tier ~1–2 sessions, Mild ~6, Moderate ~16, Severe ~25, weighted by prevalence estimates (~60%/30%/8%/2%).
    - Therapist session cost: £40–£60/hour (UK market rate for accredited platform therapists).
    - Care Navigator cost is a fixed salary cost per headcount band served.
  - S&M expense - 40–60% of revenue in early years, declining with scale.
  - R&D / platform cost - 20–25% of revenue.
  - G&A - 10–15% of revenue.
  - Gross margin - 55–70% at scale (typical for digitally-delivered therapy platforms); lower initially due to Navigator fixed cost and low utilisation.
- **Scenarios (Base / Bull / Bear - which variables flex):**
  - Base: 3 new employer clients/month by Month 12, £10 PEPM, 150 avg headcount, 88% logo retention.
  - Bull: Faster sales ramp (5 clients/month by Month 12), £12 PEPM, better NRR (112%), higher avg headcount (200).
  - Bear: Slow sales cycle (1.5 clients/month), price compression (£8 PEPM), higher churn (80% logo retention), elevated therapist costs.
- **Required sheets / outputs:**
  1. Assumptions - all drivers in one editable block.
  2. Client ARR Waterfall - new, churned, expansion MRR/ARR by cohort.
  3. Revenue Build - employer clients × headcount × PEPM.
  4. Cost of Revenue - session delivery cost by care tier (utilisation × sessions × therapist cost).
  5. P&L - gross profit, OpEx (S&M, R&D, G&A), EBITDA, net loss.
  6. Headcount Plan - sales reps, care navigators, engineers, clinical staff.
  7. Cash / Runway - burn rate and months of runway (critical given no funding data; to be populated once raise details are known).
  8. Scenario toggle - Base / Bull / Bear switcher.

## Frequently asked questions

### Is the Oliva financial model free?

Yes. The Oliva model is a free Excel download with live formulas.

### Can I change the assumptions?

Yes. The workbook is editable and its live formulas recalculate when assumptions change.