20 million dollars to continue working for mental health

Mental health has become a major concern in our society and, in particular, in the workplace.

Fortunately, in recent years we are seeing that many taboos are being broken and more and more companies are taking a step forward to improve the mental well-being of their staff.

This not only benefits the workers, but also the companies themselves, since it improves employee satisfaction, which translates into greater motivation and increased productivity, as we explained in this article.

And it also impacts the business fabric, since new business opportunities emerge related to mental health, as is the case of ifeel, a mental health platform for insurers and companies.

Technology applied to mental health

ifeel combines advanced data analytics, clinical research and AI models to provide employers and insurers with the appropriate tools to manage the mental health of employees and policyholders.

Thanks to that, is able to allocate resources optimally to help those in needimproving results regarding people’s mental well-being and generating significant cost savings in terms of disability, productivity and claims costs for companies for issues related to mental health.

The startup It has an international projection, since it is available in more than 26 languages ​​and in more than 30 countriesworking hand in hand with insurers and companies such as Glovo, Insud Pharma, SCOR SE, Cabify, Travelperk, H&M, Wellhub or Thoughtworks,

Its trajectory is not going unnoticed by investors, who have just backed the company in a Series B financing round in which it has raised 20 million dollars. After this round of financing, ifeel has already raised $40 million since its inception.

The operation has been jointly led by FinTLV Ventures and Korelya Capital, with the participation of investors already present in its capital, SCOR Ventures, Nauta and UNIQA Ventures.

Financing for expansion

The funds obtained will be used to expand its commercial engine in existing and new markets, but also for deepen your product and innovation capabilities in the field of mental health.

“We have known ifeel for over five years and have been deeply impressed by their unwavering commitment to revolutionizing mental health care for businesses and insurers. This investment is timely and essential as it addresses the growing mental health challenges facing employees, businesses and insurers. Also supports our thesis that the insurance industry should prioritize prevention, through preventive solutions,” declares Gil Arazi, founder and managing partner of FinTLV Ventures.

Franco Danesi, partner at Korelya Capital, highlights some of the key points of the ifeel proposal. “They have built the company with the needs of all key groups in the mental health ecosystem in mind: patients, providers, insurance companies and businesses,” comments.

“We are impressed by ifeel’s product, which we consider to be truly unique on the market. The Combination of mental wellness content, access to professionals and an AI-assisted triage engine ensure patients are offered the right product for your needs, while Insurers and corporations effectively manage the rising costs associated with mental health of their populations,” he points out.