This morning workplace mental health platform Unmind scored $10 million in Series A funding. Project A led the round with additional participation from Felix Capital.
This comes less than a year after the London-based startup announced a $3.8 million (£3 million) raise led by Felix Capital and private investors Michael Whitfield and Chris Bruce.
WHAT THEY DO
The British company focuses on mental health in the work place. The company’s main clients are employers who can offer the platform to their employees.
Unmind provides mental health assessments to help employees track their mental health over a period of time. It also provides programs to help members look at their mental health and understand different metrics including sleep, productivity and stress.
WHAT IT’S FOR
The new infusion of cash is set to help the company expand its global footprint.
“At Unmind, we believe that looking after our health means caring for the whole human, and by weaving work and wellbeing into one, we can build organizations where everyone can fulfil their potential,” Dr. Nick Taylor, cofounder of Unmind and clinical psychologist, said in a statement. “This funding will help us to meet growing international demand, offer new services to our users and further realize our vision of a world where mental health is universally understood, nurtured and celebrated.”
THE LARGER TREND
Mental health has continued to be one of the largest growing areas in digital health. In fact, Rock Health reported that in 2019 four behavioral health companies landed $50 million or more in funding.
Employee focused mental health has also been a growing field. Last month Modern Health, which focuses on working with employer organizations to provide its members digital mental health tools, landed $42 million in new capital.
Digital mental health startup Meru has also been working with health systems and employers to offer its 12-week mental health program that is supported by licensed therapists.