Unmind Raises $ 47 Million for a Mental Health Support Platform at its Workplace – TechCrunch

Unmind Raises $ 47 Million for a Mental Health Support Platform at its Workplace – TechCrunch

The company was co-founded by Dr Nick Taylor, who previously had been a clinical psychologist and worked for years in mental health care (and before that was a classically-trained singer), who said he came up with the idea after feeling like he was seeing too many people only for the first time at a stage when their issues were already very advanced. The company also said that revenues grew by more than 3x in the last 12 months. Meanwhile, its customers include major retailers like John Lewis and M&S, high street bank TSB, Uber, Samsung, Virgin Media, British Airways and Asos — a list of companies that have strong degrees of customer service around them, have been greatly impacted by the lockdowns, and you can imagine must have a lot of people working in them pretty stressed out as a result of being on the front lines of interfacing with a stressed-out wider population of consumers. “I kept encountering the same frustration time and again: I wish I’d met this person six months ago,” Taylor said in an interview.

The app has seen some notable traction especially in the last year, a time when the conversation about mental health has become much more commonplace and critical, given the environment we’ve been living in. The core of Unmind’s service is an app built around a set of questions to help employees explore their own states of mental health, which could include depression, anxiety, insomnia, and a host of other manifestations. It provides advice and content to begin addressing the results of that — exercises, advice, podcasts, links for further reading, and links to seeing further help from professionals (not more machine interfaces, but humans). It also provides a service to the employers, sharing anonymized data from the app with them so that they, too, can consider how better to respond to their employees’ needs.

Unmind does not disclose user numbers, nor how they have grown, but it tells me that uptake and adoption of its app ranges from 15% to over 60% of an organization’s workforce (this varies by size, and the emphasis that the organization itself puts on using the app, among other things). It said that of those employees who are using Unmind, 88% have said they experience an improvement in mental wellbeing, work, or relationships, while 92% report higher confidence, awareness, and understanding of mental health. Unmind — a London startup that has built a mental health app for the workplace — has raised $47 million, a Series B that it will be using to continue investing in its research and development and also to expand its business reach. The funding is being led by EQT Ventures –- a very active investor at the moment in UK growth rounds — with participation also from Sapphire Ventures and previous backers Project A, Felix Capital, and True.

“I didn’t know what would happen with mental health during Covid,” Taylor recalled. “I actually wondered if it would be demoted,” given all of the other conflicting priorities. “But the prevalence of mental illness has escalated. It’s out of control. And in the workplace, it’s a leading cause of absenteeism and turnover.” And given how full-on everything has become, including likely more hours spent working since now it all has merged with our home lives, we all know (and may well be among) many people who are feeling incredibly burned out right now. Taylor said that in fact quite the opposite has happened to his early skepticism: mental health has become front of mind, “and the shackles of stigma are falling away.” The connection between work and mental health is a longstanding one but has perhaps been proven out more than ever before in the last year.

The workplace is not a bad place to base that effort. Not only is it often a source of stress for people, but it’s a regular place for them to be every day so creating a way of assessing mental health through that implicitly creates a kind of routine to the effort. It also potentially means a closer connection to the employer to work on issues more collectively when and if they emerge, in a way that the employer might not do (or ever discover) through other means. As with all kinds of preventative healthcare, it’s always better to identify and work on issues before they grow big and more urgent, and so he set out to think about how one might approach the concept of a preventative check-up and check-in for mental health.

The News Highlights

  • Unmind Raises $ 47 Million for a Mental Health Support Platform at its Workplace – TechCrunch
  • Check the latest Health news updates and information about health.
Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
Business in San Ysidro awaits reopening of the international border

News in San Ysidro awaits reopening of the international border

Wells says 197 of the 800 businesses in San Ysidro’s 92173 have closed over the past 15 months. The chamber estimates that the region only had about $250 ...
Parson Signs Bill Limiting Local Health Authority Authority and Banning Vaccine Passports |  State News

Parson Signs Bill Limiting Local Health Authority Authority and Banning Vaccine Passports | State News

Counties and local governments who receive public funds from requiring COVID-19 vaccination documentation, which means Missourians will not have to show proof ...
Youngstown County Debating Whether Municipal Health Workers Should Receive Pandemic Overtime Pay

Youngstown County Debating Whether Municipal Health Workers Should Receive Pandemic Overtime Pay

However, city law director Jeff Limbian said the duties Bishop and her colleagues performed were well above the job description and that he doesn’t see this ...
Verizon introduces a financial education program for children, offering parents peace of mind

Verizon introduces a financial education program for children, offering parents peace of mind

Watch them grow: parents can monitor spending, set up allowance, see purchases, and let kids make decisions while watching them succeed. Empower them to learn: ...
The Difference Between a $70 Xbox Game Pass and a $60 Xbox Game Pass Sony’s Games Will Quickly Gain Popularity

The Difference Between a $70 Xbox Game Pass and a $60 Xbox Game Pass Sony’s Games Will Quickly Gain Popularity

Sony, meanwhile, has taken the opposite path. This generation they’re not only sticking with selling individual new releases as they’ve always done, not ...
Coho Partners Welcomes Cindy Lewis as Chief Financial Officer |  The business

Coho Partners Welcomes Cindy Lewis as Chief Financial Officer | The business

Coho Partners Ltd., founded in 1999, is an independent, employee-owned investment management firm headquartered in Berwyn, Pennsylvania. As of March 31, 2021, ...
Big Money Index says stocks are ready to take off

Big Money Index says stocks are ready to take off

Stocks Are Getting Scooped Up I want less stress in my life. Turning off the headlines can help! Now, let’s take a look at what stocks did last week by sector. ...
Intuit alerts users about compromised TurboTax accounts

Intuit alerts users about compromised TurboTax accounts

In a breach notification letter sent to affected customers earlier this month, the company said that this was not a “systemic data breach of Intuit.” ...
Southgate Mall Corporate Owner File, Chapter 11, says ‘business as usual’ ahead ~ Missoula Current

Southgate Mall Corporate Owner File, Chapter 11, says ‘business as usual’ ahead ~ Missoula Current

Mall officials couldn’t immediately be reached for comment on Monday afternoon. Washington Prime Group completed the purchase of Southgate Mall for $58 ...
‘It’s safer now’: Local health professionals discuss lasting change and encourage a return to medical services

‘It’s safer now’: Local health professionals discuss lasting change and encourage a return to medical services

She added that, due to limited internet connectivity in parts of the region, these services have typically been offered by phone. “We have seen our behavioral ...
Show next
Compsmag - Latest News from tech, business and health
Logo