The mental health apps market is booming. With the rise in talking about mental health problems and removing mental illness stigma, a number of apps have emerged that seek to provide support, education, and encouragement for those struggling with mental health issues.
Mental health apps have been around for many years and some of them, like Headspace of Calm have become quite famous. These apps are available to the general public and help them manage stress and relax. Not surprisingly, during the pandemic we’ve seen a proliferation of mental health apps that are especially focused on supporting employees in the workplace.
But it takes time to build a good solution, especially when you combine it with a network of face-2-face therapists. The list below provides an overview of of mental health companies that recently received an investment, listed in alphabetical order. Some of these companies have been around for a long time, while others just entered the market. The list is meant to give you an idea of the different solutions that are available, from completely online programs to solutions that include human therapists, group sessions and classes. When making a selection, make sure to do your due diligence and pick a solution fits your overall program.
Ginger is an on-demand mental health company that raised a whopping $100M. Ginger was founded in 2011 by a team of entrepreneurs and data scientists from the MIT Media Lab. Using mobile technology, they designed a platform to identify patterns of anxiety, stress and depression, and alert patients and their healthcare providers to deliver care.
Ginger evolved into an on-demand mental health care platform using a combination of artificial intelligence and human intervention with licensed therapists and coaches. Employees access the platform via an app with a chat function. Based on the request, the platform suggests a response: from self-help activities to coaching and therapy. Ginger also operates a research department that published reports and insights on the site.
The company is a licensed medical provider in the United States and its therapy and psychiatry services are only available there, offered by employers through benefits plans.
Koa Health, a digital mental healthcare provider offering personalized solutions backed by science, closed a €30 million ($36 million) round. The company is a spin-out from Telefónica and based in Spain. Koa Foundations is a mental well being app giving users access to a library of evidence-based activities to improve their well being including tackling stress, sleeping better, aiding relaxation and positive thinking and boosting self confidence.
Since the spin-out, Koa has introduced 3 new programs: Mindset, Foresight and Perspectives. They are aimed at specific conditions and help health care providers support people with digital tools and online programs when face-to-face contact is not possible.
Koa’s solutions are available worldwide. Not all of them are available in the United States, but they are in the process of seeking FDA approval.
Lyra Health, a provider of comprehensive mental health care benefits for employers, raised $187m. When employers sign up, employees can use the Lyra app to list their symptoms and receive direct access to therapists, psychologists and psychiatrists through live video therapy, web chat or in-person appointments, as well as a number of self-help resources.
The company places a lot of emphasis on proven treatment options and uses advanced predictive analytical models, machine learning, and clinical expertise to curate, evaluate, and scale a US based network of therapists. Lyra is only available in the United States.
Modern Health raised $74M in funding to support the goal of providing evidence-based mental health care to all. This company offers an app that guides an employee through a self assessment, with questions about their needs. Based on the input, the app puts together a personalized plan, that ranges from stress and anxiety management via workplace well-being to financial support. The plan consists of a combination of digital programs, group learning, and 1:1 coaching & therapy.
Modern Health is US-based and offers their programs to global enterprises. Their services include access to professional provider networks around the world.
Spill is a London-based start–up that provides remote mental health support for companies through the workplace messaging tool Slack, and has raised £2 million. After Spill is integrated with Slack, it will ask employees a short list of questions to make a first assessment. When it finds employees in need of help, it offers the option of booking a session with a licensed therapist, either through video, by phone or messaging. A library offers helpful content and exercises.
The majority of their counselors is UK-based, but Spill is actively hiring new therapists around the world. Counselors become shareholders in Spill after joining.
Unmind secured $47M this month – an appropriate timing for a mental health solution focused on the workplace. The platform offers a variety of services: from self-guided programs to exercises, questionnaires and mood diaries. Unmind takes a different approach from some of the other providers as it integrates the platform with work life and encourages people to send compliments and praise to colleagues.
Unmind offers the functionality to include information about therapy and local providers, but it doesn’t have a relationship with them. Because it includes surveys, it offers dashboards so employers can use metrics to keep track of emotional well being. Unmind is based in the UK and can be used around the world.
Zenovate, an employee mental health and wellbeing platform provider, raised $1m in May. The company offers a variety of services, both online and offline: from chair massages to mindfulness, fitness classes, nutritional advice and group therapy sessions. Zenovate also includes a Finance module and offers an Employee Assistance Program.
The company will use the funds to add more mental fitness tools for clients including gamification and engagement tools, text-based therapy, and device integrations. Zenovate is based in the US and operates a global network of mental health practitioners. Their solutions are available worldwide.
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