Mental Health Startup Mindset Health Raises $1.1 Million

Mindset Health, a creator of mental health programs that help people manage and improve their health, without drugs or diets, raised $1.1 million in a funding round, according to TechCrunch. Investors include Fifty Years, Y Combinator, Gelt VC, Giant Leap VC, and angel investors across the U.S. and Australia.

Mindset Health offers digital hypnotherapy services on its platform. The company creates evidence-based, hypnotherapy programs as a complement to treatments and in-person sessions. Its programs are designed to address several health conditions, including stress, anxiety, irritable bowel syndrome, negative thinking, and chronic pain.

While the company started as a more general mental wellness app, it now offers two programs – Mindset and Nerva, alongside its mental wellness toolkit.

Mindset offers over 50 hypnotherapy sessions that help manage and improve mental health. The company charges $69.95 per year; clinical psychologists provide programs through a mobile app.

Nerva, an irritable bowel syndrome (IBS)-focused six-week gut-directed hypnotherapy program, designed to manage IBS symptoms from home. Nerva costs $97 for the 6-week program.

Founded in 2017, Melbourne, Victoria-based startup, raised $51,000 pre-seed funding in July 2018, from Blackbird Ventures and Startmate. In August 2019, the company graduated from Y-Combinator and received seed funding of $150,000.

According to recent Mercom Q1 2020 Digital Health Funding Report, globally mHealth Apps secured $365 million in Q1 2020 compared to $212 million in Q4 2019, a 72% rise quarter-over-quarter. Recently, Modern Health, a mental well-being platform that provides access to scientifically-validated digital programs and meditations, closed a $31 million Series B funding round to expand its holistic mental health benefits platform for employers. The funding round was led by Founders Fund and John Doerr with participation from Kleiner Perkins and Afore Capital.


RELATED POSTS