Emotional well-being platform ifeel raises €5.5m Series A funding
ifeel, the emotional well-being platform transforming how employees access therapy, has raised €5.5m series A round led by Nauta Capital with participation from existing investors.
With a mission to digitally scale access to therapy, ifeel combines its AI-powered proprietary platform and clinical research with licensed psychologists to provide users with a new way of managing their emotional wellbeing from self care up to live therapy sessions.
With ifeel users get access to self-care tools such as daily mood trackers, recommended exercises and activities as well as one-to-one online therapy sessions with licensed psychologists. By combining self-care and guided therapies, ifeel maximises engagement and retention of its users — with 90% reporting improved emotional and mental well-being after using ifeel.
The impact of the pandemic on mental wellbeing has been a topic of discussion; with research conducted by Deloitte revealing that UK companies lose £45bn a year due to poor mental health experienced by employees, while 60% of companies report plans to increase well-being, mental health and stress management benefit programmes for their employees.
Founded as a consumer-focused platform, ifeel pivoted to a hybrid business model in 2020 allowing its platform to be accessible to both individual users on a monthly subscription model or as part of employer’s or insurance provider’s cover. As a result, the company has seen a 1000% growth in the B2B business model fuelled by the increased need for companies to support the emotional wellbeing of their workforce as they navigate COVID’s impact.
Amir Kaplan, CEO and co-founder of ifeel said: ”The health crisis and new blended employment models create a high need for managers to support remote employees and distant customers. We are proud of the success we achieved with leading global partners and are looking forward to leading the transition in the relationships created between companies and their employees and customers. We believe smart emotional support service will be a must have benefit in the near future as the impact is so high. The safe and anonymous access to ifeel allows employees to improve their life with no need of managers referral.”