Singapore-based psychological well being app Mind reaches a million customers, closes seed funding – TechCrunch

Singapore-based mental health app Intellect reaches one million users, closes seed funding – TechCrunch

Theodoric Chew, co-founder and chief govt officer of psychological well being app Intellect

Intellect, a Singapore-based startup that wishes to decrease boundaries to psychological well being care in Asia, says it has reached a couple of million customers simply six months after launching. Google additionally introduced in the present day that the startup’s client app, additionally known as Mind, is one of its picks for best personal growth apps of 2020.

The corporate just lately closed an undisclosed seed spherical led by Insignia Ventures Companions. Angel traders together with e-commerce platform Carousell co-founder and chief govt officer Quek Siu Rui; former Sequoia companion Tim Lee; and startup consultancy xto10x’s Southeast Asia CEO J.J. Chai additionally participated.

In an announcement, Insignia Ventures Companions principal Samir Chaibi stated, “In Mind, we see a fast-scaling platform addressing a ache that has turn out to be very apparent amidst the COVID-19 pandemic. We consider that pairing clinically-backed protocols with an environment friendly mobile-first supply is the important thing to interrupt down the boundaries to entry for thousands and thousands of sufferers globally.”

Co-founder and chief govt officer Theodoric Chew launched Mind earlier this 12 months as a result of whereas there’s a rising pool of psychological wellness apps in the US and Europe which have attracted more funding during the COVID-19 pandemic, the area remains to be very younger in Asia. Mind’s purpose is encourage extra individuals to include psychological well being care into their day by day routines by reducing boundaries like excessive prices and social stigma.

Mind gives two merchandise. One is a client app with self-guided applications based mostly on cognitive behavioral remedy strategies that middle on points like anxiousness, shallowness or relationship points.

The opposite is a psychological well being platform for employers to supply as a profit and features a just lately launched telehealth service known as Behavioural Well being Teaching that connects customers with psychological well being professionals. The service, which incorporates one-on-one video periods and limitless textual content messaging, is now a core a part of Mind’s companies, Chew informed TechCrunch.

Mind’s enterprise product now reaches 10,000 staff, and its purchasers embrace tech corporations, regional operations for multinational companies and hospitals. Most are positioned in Singapore, Hong Kong, Indonesia and India, and vary in dimension from 100 to greater than 3,000 staff.

For a lot of small- to mid-sized employers, Mind is usually the primary psychological well being profit they’ve supplied. Bigger purchasers could have already got EAP (worker help applications), however Chew stated these are sometimes underutilized, with a mean adoption fee of 1% to 2%. Alternatively, he stated Mind’s worker profit program sees a mean adoption fee of 30% within the first month after it’s rolled out at an organization.

Chew added that the COVID-19 pandemic has prompted extra corporations to deal with burnout and different psychological well being points.

“By way of bigger developments, we’ve seen an enormous spike in corporations throughout the area having psychological well being and wellbeing of their staff being prioritized on their agenda,” stated Chew. “By way of person developments, we see a considerably increased utilization in work stress and burnout, anxiousness and relationship-related applications.”

Mind’s seed spherical will likely be used to increase in Asian markets and to assist fund medical analysis research it’s at the moment conducting with universities and organizations in Singapore, Australia and the UK.

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