Digital Mental Health Startup Rey Raises $10 Million in Funding

Unmind, a provider of an online workplace mental health and wellness platform, has closed a $47 million oversubscribed Series B funding round.

EQT Ventures led this latest round of funding. The investment was supported by Sapphire Ventures, as well as existing investors Project A, Felix Capital, and True.

Unmind plans to use the new capital to accelerate its international growth and continue to develop the breadth and diversity of its content, features, and integrations.

Founded in 2016, Unmind is a workplace mental health platform, supporting more than 2 million employees worldwide. The platform helps employees proactively measure, understand, and nurture their mental health across seven core areas of wellbeing – fulfillment, coping, calmness, happiness, connection, health, and sleep.

The company’s clients include Uber, Virgin Media, The John Lewis Partnership, Gymshark, and Standard Chartere.

Dr. Nick Taylor, Clinical Psychologist, Co-founder, and CEO of Unmind, said: “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.”

Nick Taylor added: “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. 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.”

Telehealth companies raised $2.4 billion in Q1 2021 compared to $1.2 billion raised in Q4 2020, a 100% increase in QoQ. Year-over-year funding increased by 154% in Q1 2021 compared to $930 million raised in Q1 2020, according to the recently released Mercom’s Q1 2021 Digital Health Funding and M&A Report.