At ifeel, we are very proud to announce we have raised a €10M series A funding round led by UNIQA Ventures alongside Nauta Capital and other investors. Isn’t this fantastic?
Since 2017, our mission has been to increase access to mental health care digitally. During this time, we have combined data analytics and clinical research led by psychologists on our platform to provide employees with a new way to manage their emotional well-being, from self-care to therapy sessions. Our approach to employee protection based on caring for their emotional well-being has once again convinced investors, and this new round of funding will help us continue working in this direction. Not bad, right? In fact, it has made its way into industry press, such as EU- Startups, Tech Funding News, and Silicon Canal.
A funding round for a unique product
Our product is unique, and those who have tried it know it. That is why ifeel has become the digital solution of choice for large distributors, such as insurance companies and employee benefits advisors, in several countries.
The proof is in the pudding. Over the past five years, we have implemented our global emotional well-being service in companies such as AXA Partners, SCOR SE, Glovo, Travelperk, Wellhub, Thoughtworks, and González Byass, among many others. In these companies, we work through prevention and, if necessary, psychological intervention.
“A strong European player with a B2B2C mental health platform. Its tools make it possible to serve large clients with many end users at the same time while maintaining attractive commercial margins”.
UNIQA Ventures states
We are thrilled because, since we started, we have managed to raise €18M, and we will use this €10M funding round to grow the business in new markets, products, and sales department. So far, we have focused on reaching agreements with scale-ups, but from now on, we will focus on the segment of large traditional companies. In fact, the scalability of our program already allows us to start operating in large organizations in less than a week.
To meet our objectives, we have more than 600 psychologists offering therapy in the 23 countries where ifeel is present. We operate in 21 languages and have already worked with more than 800,000 employees worldwide. We’re not keeping a low profile: in the past year, ifeel recorded a growth of 200%.
“Health requires a balance between what goes on inside people’s work and outside. For us, there is no strict division between professional and personal life; everything is personal.
Amir Kaplan, ifeel’s CEO
We firmly believe that work should not be a reason to interrupt taking care of our well-being. On the contrary: it should be a space where we are well and can thrive at different levels. From this point on, our goal is to help companies integrate this mindset into their corporate culture,”
Artificial intelligence and online psychological therapy
At ifeel, we use artificial intelligence to care for people’s psychological well-being. Leveraging more than 10 million pieces of data, the platform is capable, on the one hand, of efficiently screening, ranking, and prioritizing multiple user profiles and, on the other hand, of personalizing their experience through a combination of multiple clinical tools and AI-driven personalized recommendations.
Through these tools, different resources are accessed based on the user’s needs and interests: articles on multiple health-related topics, a diary to keep track of emotions, audio guides, and tools to facilitate relaxation or learn how to meditate… Employees can also receive emotional support from a professional psychologist or start an online therapy process.
One of the latest tools integrated into the platform is its Monthly Check-up, also known as the Ryff Emotional Wellbeing Index, in collaboration with Professor Carol Ryff’s team at the University of Wisconsin-Madison. It is a questionnaire based on Ryff’s psychological well-being scale consisting of 18 questions on various aspects of people’s emotional health. The results are useful for the person to see how they are doing over time, as a way of tracking their emotional health that they can do themselves and share with their therapist.
These and other resources are used to provide Human Resources managers with aggregated information – a secure space that guarantees confidentiality – on the difficulties faced by the workforce in terms of their psychological well-being. This is done with the utmost respect for data confidentiality and helps them to make the best decisions to take care of employees.
At ifeel, improving employee well-being is one of the most proactive corporate strategies, and we are delighted to continue to help companies achieve this through this new funding round.
