PSYC Completes Execution of JV Partnership with Digital Mental Health Startup, PsycheDev Inc. – GlobeNewswire

PSYC Completes Execution of JV Partnership with Digital Mental Health Startup, PsycheDev Inc.  GlobeNewswire
“startups when:1d” – Google News

London’s mental health startup Spill raises €2.25M to create more psychologically considerate workplace; here’s how

The isolation caused due to the COVID-19 lockdown caused a steep increase in mental health issues across the world. Coupled with the remote working set up, the situation escalated from bad to worse quickly. Addressing the mental health wellbeing of employees who are remotely working is a London-based mental health startup called Spill. It offers remote mental health support for companies via Slack, a well-known workplace messaging tool.

Investment from Ada Ventures

In a recent move, Spill raised £2M (nearly €2.25M) funding from Ada Ventures along with Seedcamp and the government’s Future Fund initiative. Also, Francesca Warner, partner at Ada Ventures joins the Spill board. The fresh fund will be used to develop proactive tools that will help the company create a more psychologically considerate workplace. It will also focus on the prevention of mental health issues instead of treatment. This funding round follows the nearly €750K investment it secured from Passion Capital back in 2019.

Calvin Benton, Founder at Spill, says: “It’s vital that, in today’s knowledge-driven economy, workers have access to high-quality mental health support that’s barrier-free, stigma-free, and free at the point of use. And that’s exactly what Spill will be able to deliver dramatically more of with the help of this latest funding round, led by Ada Ventures.”

Francesca Warner, Founding Partner at Ada Ventures, says, “We’ve been looking to invest in a company tackling the mental health crisis our society faces for some time. We’ve struggled to find products that are accessible, affordable, effective, and used regularly. Spill’s product is all of these things. We’re pleased to have the opportunity to invest in this exceptional team and look forward to the product being available to millions of people in the years to come.”

All-in-one mental health support

London-based startup Spill offers all-in-one mental health support through a Slack app, which lets employees speak with qualified therapists over video, phone or message. Previously, the company offered a message-based therapy app for iOS and Android. Spill relaunched in January last year to provide all-in-one mental health support through Slack. It is also possible to message a therapist and receive a reply by the next day or browse mental health tools and content, all via Slack.

Spill employs over 30 therapists around the U.K., working remotely over video, phone or message. All these therapists are registered with the BACP, NCS, or an equivalent professional body and have at least 200 hours of clinical experience and a minimum three-year relevant degree. As per the company, it claims to be more effective at reducing symptoms of depression and anxiety than an NHS therapy or a course of antidepressants.

Rapid growth in 2020

As per recent research by London mental health startup Spill and Censuswide, 38 per cent of the tech sector workers have considered therapy for the first time. Since it launched its service on Slack, there is a need for psychological support among employees of both smaller and larger companies. As per the data, 44 per cent or those at smaller companies (10-99 people) therapy and 31 per cent in larger companies (100+ people) considered the therapy for the first time. Also, it shows that 26 per cent of tech workers feel that their company failed to support their mental well-being.

As there is a high demand for employee mental health support, Spill witnessed a rapid growth in 2020. After launching its Slack app last January, Spill grew from 0 to 100+ paying companies in less than 12 months. Its clientele includes Typeform, Bulb and Depop.

Startups – Silicon Canals

Mental health startup Spill raises €2.2 million to help companies emotionally support their employees over Slack – EU-Startups

Mental health startup Spill raises €2.2 million to help companies emotionally support their employees over Slack  EU-Startups
“startups when:1d” – Google News

Here are five Bay Area mental health startups to watch – San Francisco Business Times – San Francisco Business Times

Here are five Bay Area mental health startups to watch – San Francisco Business Times  San Francisco Business Times
“startups when:1d” – Google News

Dublin-based Frankie Health raises €1 million to support remote mental wellbeing in the workplace

Irish startup Frankie Health, the personalised mental health platform for organisations to support employees, has today announced the closing of an approx. €1 million investment round, bringing total funding to around €1.2 million. Frankie Health will be adding an additional 20 members to the team across engineering, design and marketing teams in the next 12…

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EU-Startups

Frankie Health, an Irish mental health platform bags €1M to support remote mental wellbeing in the workplace

Frankie Health

According to the WHO, mental health disorders affect 1 in 4 people. The global workplace wellness industry was valued at $ 48B (approx €39.5B) in 2017, with estimates that it will surpass $ 66B (approx €54B) by 2022. 

A 2019 Deloitte study shows that for every £1 a company spends on its employees’ mental health delivers a £5 return on investment, an ROI of (5:1).

Raised €1M funding

In this regard, Frankie Health, a Dublin-based mental health platform that delivers personalised mental healthcare to modern teams secured a $ 1.25M (approx €1M) funding. This brings its total funding to $ 1.5M (approx €1.2M). 

With the funding, the company is planning to add 20 members to the team across engineering, design, and marketing departments in the next 12 months.

Offers evidence-based exercises

Founded by James McGann, Seb Poole in 2020, the Frankie Health works to reduce anxiety, burnout, and stress by using a preventative approach with virtual delivery. Notably, the company offers personalised, clinical, evidence-based exercises to build mental resilience when greater support is needed.

Dublin-born Co-Founder, James McGann says “Mental health is a spectrum that we all move up and down on. When employees are feeling good, they can be building resilience by completing proven-exercises that develop mental strength. And when harder times come, employees should get immediate support from the highest quality sources.” 

Personalised mental health care journeys

Frankie Health develops personalised mental health care journeys for each employee, in three steps: 

  • Understand the employee 
  • Connect the employee with the right care 
  • Grow the personal care journey by learning from the data gathered.

Furthermore, the platform allows workers to connect to experienced therapists that can be accessed from home or the office. The Dublin-based company uses end-to-end encryption for privacy and machine learning to improve effectiveness. The platform can be integrated into various tools including Slack, Google, and, many more.

Seb Poole, Co-Founder of Frankie Health, says, “Frankie is an intelligent solution that connects employees with the right care at the right time. Through integrating with popular business tools to automatically detect signs of stress, Frankie offers personalised methods of support.”

Startups – Silicon Canals