MYNDUP secures £4.4 million Series A investment from angel investors
MYNDUP, an all-in-one B2B mental health platform, today announces it has successfully raised £4.4 million in an oversubscribed Series A funding round. A wide range of family offices and angel investors from companies including LSEG, Deutsche Bank and Blackstone have invested in the platform.
MYNDUP offers employees same-day, one-to-one, virtual mental health sessions, and has a network of over 12,000 professional practitioners covering the entire mental health spectrum – including Therapy, Counselling, Mindfulness, Life & Career Coaching and Meditation. For employees, the service is free, completely anonymous, and unlike any other tool, employees can pick and choose which therapist, coach or counsellor they would like to speak to.
The latest investment reflects the growing business importance of fast and effective mental health support. According to Deloitte, the cost of mental health related sickness absence to businesses is at a record high of £53-56 billion per year. Staff wellbeing is more important now than ever, particularly as demand for mental health support is increasing drastically due to the rising cost of living, geopolitical upheavals, climate change and ongoing impact of COVID-19.
The funds will be used to establish MYNDUP as a leading provider of B2B mental health care, by boosting its growth and increasing its network of practitioners to make the platform more accessible to a global audience. The platform will also be enhanced with artificial intelligence and machine learning capabilities to match employees even more seamlessly with the right practitioner and specialism.
The closing of this Series A round demonstrates that investors recognise both MYNDUP’s unique offering and potential for further growth. Founded in February 2020, the business is currently servicing over 50,000 employees from major global brands including Savills, Dentons, CVC, The Prince’s Trust, and IPG. 97% of users have reported a reduction in stress, anxiety and depression thanks to the platform, and 99% of users have reported a boost in employee confidence, motivation and productivity.
Joel Gujral, Founder and CEO of MYNDUP, said: “We are so excited to announce the successful closing of our £4.4 million funding round. This will further support our mission to become the world’s go-to solution for mental health and ultimately remove barriers to care for employees across the globe. From my own experience, I know how important it is for employees to have access to same-day, live, one-to-one video sessions across the entire mental health spectrum. The funds raised will help us significantly grow the platform and continue to ensure that no employee ever feels stuck, helpless or alone, keeping businesses thriving.”
About MYNDUP
MYNDUP is a mental health platform which offers live, same-day, one-to-one video sessions across the mental health spectrum: Therapy, Counselling, Life & Career Coaching, Mindfulness and Meditation. The company serves 50,000 employees in 30+ countries across 4 continents.
MYNDUP is on a mission to end the failing “one size fits all” approach to mental health and remove barriers to care for employees. CEO Joel Gujral founded the company after his own experiences with workplace mental health provision, which was difficult to access, involved long wait times, and was limited in scope.
MYNDUP aims to demonstrate that supporting employees with their well-being is directly correlated to better and more sustainable outcomes for businesses. Its approach has been proven to reduce stress, anxiety and depression in 97% of users and boost employee confidence, motivation and productivity in 99% of users.
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