Workplace mental health platform Unmind raises $47m

Unmind, a workplace mental health platform, has closed a $47 million Series B funding round.

The round was led by EQT Ventures and supported by Sapphire Ventures, with existing investors Project A, Felix Capital, and True also joining the round.

Unmind’s platform provides services such as remote therapy aimed at understanding and improving employee’s mental health.

The company said that they serve 2 million employees in 110 countries, and boast Uber, British Airways, Marks & Spencer, and Samsung as clients.

Unmind said it will use the new capital to accelerate its international growth and continue to develop its content, features, and integrations.

The company also said the capital will help it increase its headcount to 200 people by the end of 2021, across its offices in London, New York, and Sydney.

Unmind said it had more than tripled revenues in the last 12 months, as the pandemic boosted demand for its services.

According to statistics cited by Unmind, 78.5 per cent of employers reported an increase in requests for mental health support over the course of the pandemic and 90 per cent said they were concerned that their employees are experiencing burnout.

About 70 per cent of employer’s plan to invest in mental health resources by starting, continuing, or expanding benefits in 2021 according to Unmind’s statistics, with 88 per cent of large employers expecting to provide access to online mental health support this year.

“Unmind was built on the belief that everyone has the right to a healthy mind,” said Dr Nick Taylor, Clinical Psychologist, Co-founder and chief executive at Unmind. “Thanks to the support from our investors, this round of funding gives us the opportunity to scale our team while further developing the product with clinically-backed insights and research.”

“In turn, this will help us to meet growing global demand from employers looking to drive positive cultural change around mental health in the workplace. At Unmind, we see the future of mental healthcare rooted in prevention.”

He added: “After all, we all have mental health, all of the time, and just like physical health or dental health, there's a range of ways we can proactively nurture and improve it.”

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