The funding will help Unmind expand its workplace-focused mental health platform. Here are the top-line bullets you need to know.
Unmind, a workplace mental wellbeing company, has raised $47M in a Series B. The round drew participation from EQT Ventures, Sapphire Ventures, Project A Ventures, and Felix Capital, among others.
HOW’S THE COMPANY PERFORMING?
- London-based Unmind is a workplace mental health service provider that provides services like self-guided programs, questionnaires, EAPs to help employees reduce stress.
- The application is reportedly used by up to 60%+ of the employees in organizations. The company claims that 88% of employees using the application have seen improvements in mental well being, work, or relationships.
- The company reported having tripled its revenue in the last 12 months and counts 100 corporate clients, including M&S, Uber, Samsung, TSB, and British Airways, among others.
WHY DOES THE MARKET MATTER?
- The corporate wellness market is projected to grow at a CAGR of 6.5% and reach a value of $8.3B by 2026, according to Mordor Intelligence.
- The cost advantages and the general convenience of virtual support and consultation and rising mental health awareness have fueled the industry’s growth.
- The Covid-19 pandemic has accelerated demand for virtual mental health services to combat the rise in stress, depression, and anxiety.