Unmind raises $10m to improve workplace mental health
Unmind, the workplace mental health platform, today announced it has raised US$10m (circa £7.7m) in a Series A funding round.
Led by Berlin-based Project A, with the continued support of Felix Capital, the funding – which is one of the largest series A rounds for a European mental health tech business – will support company growth, and its commitment to measurably improve the mental health of employees in workplaces around the world.
Since its launch in 2016, the company has seen fast growth, growing revenue by more than 300% in 2019. Today, it counts some of the UK’s most iconic businesses as customers, including John Lewis & Partners, ASOS, Just Eat, British Airways, and Slaughter & May. The company is now supporting employees in more than 50 countries, and over 350,000 people have access to its services.
The milestone comes at a time when mental health is an increasing priority in the workplace. As employers seek to address the prevalence of mental ill-health — one in six will experience some form of mental health issue related to work, this year — Unmind's digital solution empowers employees to take a proactive and preventative approach to their mental health and wellbeing.
Ultimately, the team at Unmind want to drive wider cultural change by positioning mental health as something that we all feel inspired to work on.
Built on the premise that prevention is better than cure, the platform focuses on helping employees get the most from their personal and professional life.
Available anytime, anywhere, employees can measure and then manage their mental health by accessing tools and training based on their individual needs. This includes help with sleep and nutrition, coping with work and life stressors, and supporting others. Importantly, the evidence-based content is developed in collaboration with leading experts and academics in their respective fields.
Dr Nick Taylor, co-founder of Unmind and Clinical Psychologist, explained: “Our mental health is one of the most incredible things about being human. We all have it, all of the time, but until recently we’ve only paid attention when things get difficult, and even then we tend to offer one-size-fits-all solutions that don’t flex to individual needs or issues.
“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 organisations where everyone can fulfil their potential. This funding will help us to meet growing international demand, offer new services to our users, and further realise our vision of a world where mental health is universally understood, nurtured, and celebrated.”
Antoine Nussenbaum, Partner and co-founder of Felix Capital, commented: “Over the years we’ve seen an enormous shift in how we think and talk about mental health – but little has been done in terms of practical solutions. Unmind continues to demonstrate how its technology is being used to help organisations and their employees measure, manage, and improve their mental wellbeing.
“We fundamentally believe in their ethos and we think it’s pertinent that in 2020 businesses start tackling the problem by taking meaningful actions. Supporting Unmind’s growth and success as it looks to scale and expand their business is the first step that we can do to ensure that we are part of this global movement.”
Thies Sander, Founding Partner of Project A, added: “Unmind is a world-leader in digital mental health and continues to innovate across all verticals and geographies in a highly competitive space. Across the globe, we are seeing a continued, positive shift in the way that society and the workplace think about mental health. This is driving greater demand for innovative solutions to a growing problem and we believe that Unmind is best-placed to meet this considerable opportunity”.