Mental Wellness Mobile App Mindgram to Facilitate Company Employees in Mental Wellbeing Nets Funding of €7M
Warsaw-based mental wellness app Mindgram aims to help companies in maintaining their employee’s mental health ropes funding of 7M Euros.
Mindgram, with the set of modern tools supporting psychological wellness and personal development of employees ropes investment of 7M Euros. This hefty funding comes from some of the most prominent investors in the region such as Credo Ventures. Others included were PortfoLoin, Nunatak Capital, Market One Capital, and Pamoja Capital, as well as angel investors. Among the various investors, only Market One Capital and Pamoja Capital were previously engaged with the startup.
With the aim of expanding its business, the startup offers its B2B services to companies for supporting the overall well-being of employees. Such as tailored psychological care in systematic psychotherapy, neuroscience, lifestyle medicine, or cognitive behavioral therapy. In short, it also provides various on-hand solutions for the management of stress, communication difficulties, burnout, depression, and family problems, etc. Therefore, ensuring improved employee productivity by supporting the development of cognitive and emotional competencies.
Mindgram co-founder and CEO, Jakub Zieliński, commenting on the need for mental health said,
-“Well-being of the team is nowadays a fundamental pillar for the development of any company. It’s the new KPI of performance. With the mental distress epidemic we are facing in Europe and across the world, it’s not enough to react to incidents. Prevention is key to fighting anxiety and building engaged teams in the long term. Taking care of the employees’ emotions and well-being not only creates a better work environment. It helps you build a clear EVP, benefits the productivity of your team, reduces turnover and ultimately supports the company growth.”-
Zieliński is right that focusing on mental health increases productivity. Especially after a pandemic when employees are either working in a hybrid system or are returning to offices. Moreover can also help them in preserving their profits. Also, the report from World Health Organization mentions “For every $1 put into scaled up treatment for common mental disorders, there is a return of $4 in improved health and productivity. Yet, mental health due to high costs is inaccessible.
As a recent survey by Mckinsey revealed that mental health is unaffordable for people mainly because of the expensive treatments and therapies. Here mental health apps come into play. In addition to being cheap, they help users in tracking their progress. This is one of the main reasons that investors are also opening their wallets to these apps. As recently app dealing with migraine named migrevention gathered €355k in a pre-series round. Similarly, another app for ADHD called inflow bagged €2M.
This trend of usage of mental health apps among the masses is not going to abort anytime. Because by the end of this year the mental wellness app development is expected to generate 491 million dollars.