Unmind closes $ 47 million Series B to nurture and improve the mental health of organizations around the world
NEW YORK and LONDON, May 12, 2021 / PRNewswire / – Relax, the leading workplace mental health platform, closed a $ 47 million oversubscribed the Series B funding cycle as it gains global momentum in partnership with some of the world’s top employers.
This latest round of funding – led by EQT Ventures – follows a year in which demand for Unmind’s proactive and preventative approach to mental health has increased dramatically in the wake of COVID-19 as the company has increased revenue more than 3 times in the past 12 months. The investment – backed by Sapphire Ventures, as well as existing investors Project A, Felix Capital and True – now makes Unmind one of the best-funded workplace mental health startups.
Over the past year, COVID-19, lockdowns and their impact on work-life balance have had a huge impact on employee well-being around the world, with 78.5% of employers reporting an increase in requests for mental health support.1 and 90% fear their employees are experiencing burnout.2 However, the pandemic has also catalyzed positive change as organizations seek to rethink how they support their people. A majority of employers (around 70%) indicate that they plan to invest in mental health resources by starting, continuing or increasing benefits in 2021,3 88% of large employers planning to provide access to online mental health support this year.4
Dr. Nick taylor, Clinical Psychologist, Co-Founder and CEO of Unmind, said: “Unmind was built on the belief that everyone has the right to a healthy mind. Thanks to the support of our investors, this round of financing gives us the opportunity to evolve our team while further developing the product with clinically substantiated knowledge and research. In turn, this will help us meet the growing global demand from employers looking to spark positive cultural change around mental health in the workplace. At Unmind, we see the future of mental health care rooted in prevention. After all, we all have mental health all the time, and just like physical health or dental health, there are many ways to proactively nurture and improve it. “
Beyond the traditional – and often stigmatized – approach of providing support only to people with signs of poor mental health, Unmind’s scalable platform complements responsive services – like EAPs or teletherapy – by giving access to proactive and self-guided tools that empower all employees. to measure, understand and maintain their mental well-being. Supporting a wide range of topics, from sleep to connecting, calm to coping, Unmind is available to over 2 million employees in 110 countries and is used by some of the world’s top employers including Uber, British Airways , Marks & Spencer and Samsung.
Alastair mitchell, Partner at EQT Ventures, said: “It is now universally recognized that our mental health is as important if not more important than our physical health – but has long been overlooked. It is now changing rapidly. As a result, there has been a massive increase in the popularity of consumer mental health apps, which is now being offset by the growing demand from employers and employees for the same in the workplace. Unmind is the leading mental health app for the business, and we’re excited to be working with Dr. Nick and his team to support their scale up globally. Along with our investment, EQT Ventures is delighted to announce soon the deployment of Unmind throughout the EQT group and in some of our portfolio companies. “
Andreas Weiskam, Co-Founder and CEO of Sapphire Ventures, said: “Mental health and well-being is an extremely important topic in society and in the workplace. Too often, employees let their feelings of stress, anxiety, loneliness and work-life balance go away. And when they prioritize taking care of themselves, issues are often compounded and they don’t know where to start.Unmind addresses this critical challenge, enabling employees to proactively and preventively measure and manage their own. mental well-being so that they can lead more fulfilling and balanced lives. At Sapphire, we invest in important companies, companies with the power to improve the lives of individuals. Unmind does just that, and we are delighted to partner with founder and CEO Dr. Nick taylor and the whole team. “
Unmind will use this new capital to accelerate its international growth and continue to expand the breadth and diversity of its content, functionality and integrations. This will be made possible by increasing the staff to 200 people by the end of 2021, in their offices in London, new York, and Sydney.
- Unmind + REBA, COVID-19 and Employee Mental Health Research, May 2020
- Unmind + WELCOA, 2021 Workplace Resilience Survey Report, March 2021
- McKinsey & Company, national surveys reveal a disconnect between employees and employers around mental health needs, April 2021
- Mercer, Digital Tools for Mental Health, 2020
About Unmind – unmind.com
Founded in 2016, Unmind is the leading workplace mental health platform, empowering over 2 million employees worldwide to live more fulfilling and balanced lives. Backed by clinical psychology and powered by technology, the platform helps employees proactively measure, understand and maintain their own mental health in seven key areas of well-being: flourishing, coping, calm. , happiness, connection, health and sleep.
With Unmind, leaders are empowered to drive positive cultural change within their organization by accessing aggregated and anonymized information about the well-being of their staff. Uber, Virgin Media, The John Lewis Partnership, Gymshark, and Standard Chartered are just a few of the many organizations that have partnered with Unmind to create a world where mental health is universally understood, nurtured and celebrated.
More information about Unmind is available at: https://unmind.com/