MindFi Raises $750,000 for Corporate Mental Health App

MindFi, a corporate health and wellness app, has raised $750,000 in a pre-seed funding round.

Investors include venture capital firms iGlobe Partners, M Venture Partners. Angel investors like Singaporean businessperson Koh Boon Hwee; Jeffery Tiong, CEO of innovation intelligence platform developer PatSnap; and live chat platform Zopim co-founder Lim Qing Ru also joined the round.

Founded in 2017, MindFi, offers free and subscription-based membership plans that provide mindfulness exercises and cognitive behavioral therapy programs. Initially, MindFi started as a consumer-focused business; it later forayed into the corporate health and wellness space.

Available on iOS and Android phones, the mobile app now caters to corporate clients, delivering personalized recommendations, guided self-care programs, and intelligent matching with coaches and therapists.

With the fresh funds, the startup plans to accelerate product development and localization for key markets in Asia and further build a team of mental health experts, innovators, and researchers.

According to MindFi, its corporate health and wellness recommendations are developed through a proprietary AI algorithm that creates a user’s unique psychometric profile. The app also tracks the users’ daily steps, sleep, mood, breathing, and heart rates. The company says that its app anonymizes employee data that it collects and then aggregates them to generate a team-level analytics report to support human resource leaders in making data-driven decisions on workforce health and performance.

“The future of work is mental fitness. I started this company because I spent ten years struggling with late nights, anxiety attacks, and chest pains from work stress, which are symptoms of an unfit mind or poor mental health. You should not need a Ph.D. in psychology or neuroscience to know how to de-stress. MindFi is the first product that takes the guesswork out of daily lifestyle choices with personalized and objective data,” Bjorn Lee, founder, and CEO of MindFi.

mHealth Apps raised a record $1.6 billion in venture funding in 1H 2021, a 100% increase year-over-year, according to the recently released Mercom’s 1H 2021 Digital Health Funding and M&A Report. Keep, a Beijing-based fitness app closed a Series F financing round of $360 million led by SoftBank Vision Fund.