Announcing our Series B funding

12 May 2021

We’ve closed a $47 (£33) million Series B round of funding to improve the mental health of organisations around the world

It’s just over a year since we closed our Series A. And boy what a time it's been. 

A quick look in the rearview mirror shows we’ve trebled in size since Feb 2020. We’ve made big steps towards our mission of improving the mental health of 10 million people around the world. We’ve seen a real cultural shift in the way people talk and think about mental health around the world.

We couldn't have done it without our generous investors, incredible team, sage advisors, and forward-thinking clients whose commitment, support, and confidence have been phenomenal. 

But it would be remiss not to spend a moment looking at the two big macro trends that landed us where we are today.

The crisis and the silver lining

The first is, of course, Covid-19. Over the last year, people around the world have faced the greatest threat to their physical, social, and mental wellbeing in a generation. We’ve experienced loneliness, isolation, and anxiety. We’ve suffered dramatic shifts in work/life balance, social life, and family dynamics. For many – but not all – this resulted in new or exacerbated mental health conditions.

The second is a silver lining. Covid-19 thrust the topic of mental health into the limelight and demanded we pay attention to and invest in our wellbeing. As it entered mainstream discourse, the shackles of stigma have continued to fall away. People have woken up to the simple truth that we all have mental health, all of the time.

Companies are waking up, in turn, to the importance of prevention over cure when it comes to mental health – just like it's always been with physical health. They’re realising that living a fulfilling and balanced life is to mental health what strength and fitness are to physical health. This breakthrough in awareness couldn’t have come at a better time – but it would be naive to think the problem is solved.

The funding

We're incredibly excited to welcome new investors EQT Ventures and Sapphire Ventures to the family, and to get the continued backing of Project A, Felix Capital, and True, as well as our old friends Michael Whitfield and Chris Bruce, founders of Thomsons Online Benefits. 

Alastair Mitchell, Partner at EQT Ventures, champion of Unmind and mental health, said a few words on the investment. “It is now universally recognised that our mental health is as important if not more important than our physical health – but has long been neglected. That is now changing rapidly.

"Unmind is the leading mental health app for the enterprise and we are so excited to work with Dr Nick and the team to support their scaling globally.

"Along with our investment," he added, "EQT Ventures is delighted to announce the rollout of Unmind across the whole EQT group and look forward to rolling it out across our many hundreds of portfolio companies in the near future.”

Andreas Weiskam, Co-founder and Managing Director of Sapphire Ventures, says Sapphire invests in companies of purpose. "Companies with the power to improve the lives of individuals. Unmind is doing exactly that, and we are thrilled to partner with founder and CEO Dr. Nick Taylor and the entire team.”

Our CEO and Co-founder, Dr Nick Taylor, concludes our quote-athon by reminding us why it all started: "Unmind was built on the belief that everyone has the right to a healthy mind. 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.”

Why we do what we do

While the capital will help us ramp up our international growth, get more employees on board, and continue to develop our product, none of that is why we get out of bed in the morning. 

At times like these, it's easy to get caught up in the numbers and forget about the stories that inspire us to what we do in the first place. So here's a handful of comments we've received over the last year or so from people who have used Unmind to improve their situations in life. 

  • "Checking in made me aware of how often I was feeling that my mental health was not as good as I thought. Unmind gave me the tools to start looking into my mental wellbeing. I accepted my anxiety and am working to improve my coping strategies."

  • "Unmind is really helping me to reframe some of the feelings of loneliness and focus on the positive elements in my life right now. As a result, I am really feeling the benefits and forming some great habits with the use of the bite-sized but powerful tools."

  • "I enjoy the Daily Boost, I actually look forward to it every day. It has helped me get grounded, focus on what's important and prioritise my day."

Come join us!

Mental ill-health isn’t a problem that can be solved through a crisis, technology or even money. It needs a societal mindset shift that starts on an individual level; in the actions we take and decisions we make each day. 

If you’d like to help us from the inside, we’re hiring across the business. Follow the link below to explore our current openings.

If you’re interested in hearing about how Unmind could nurture the mental health of your organisation, book a chat with us today.

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