The COVID-19 pandemic, lockdown, and work-life balance have taken an enormous toll on the well-being of employees globally.
The current crisis has brought the issue of employee mental health firmly into the foreground for employers.
According to the report, 78.5% of employers are reporting an increase in requests for mental health support and 90% are concerned that their employees are experiencing burnout, says another.
Based out of London, Unmind, a B2B mental health platform, fills that need sparked by the pandemic by providing clinically-backed tools and training.
Raised £33.2M
Recently, the company secured a $47 million (approx £33.2 million) oversubscribed Series B funding round led by EQT Venture. Other investors including, Sapphire Venture, Project A, Felix Capital, and True, also participated.
How will the funding be used?
The UK company will use the funding to accelerate its international growth and continue to develop the breadth and diversity of its content, features, and integrations. As a result, the company is planning to increase the headcount to 200 people by the end of 2021, across their offices in London, New York, and Sydney.
Workplace mental health platform
Founded in 2016 by Nick Taylor and Steve Peralta, Unmind helps employees proactively measure, understand, and nurture their mental health across seven core areas of wellbeing – fulfilment, coping, calmness, happiness, connection, health, and sleep.
Supporting a diverse range of topics, from sleep to connection, calmness to coping, Unmind is available to more than 2 million employees in 110 countries, and is used by some of the world’s top employers, including Uber, British Airways, Marks & Spencer, and Samsung.
Dr. Nick Taylor, Clinical Psychologist, Co-founder and CEO, Unmind said: “Unmind was built on the belief that everyone has the right to a healthy mind. Thanks to the support from our investors, this round of funding gives us the opportunity to scale our team while further developing the product with clinically backed insights and research. In turn, this will help us to meet growing global demand from employers looking to drive positive cultural change around mental health in the workplace. At Unmind, we see the future of mental healthcare rooted in prevention. After all, we all have mental health, all of the time, and just like physical health or dental health, there’s a range of ways we can proactively nurture and improve it.”
Alastair Mitchell, Partner at EQT Ventures said: “It is now universally recognized that our Mental Health is as important if not more important than our physical health – but has long been neglected. That is now changing rapidly. As a result, there has been a massive rise in the popularity of consumer mental health apps which is now being matched by surging demand from employers and employees for the same in the workplace. Unmind is the leading mental health app for the enterprise and we are so excited to work with Dr. Nick and the team to support their scaling globally. Along with our investment, EQT Ventures is delighted to announce the rollout of Unmind across the whole EQT group and look forward to rolling it out across our many hundreds of portfolio companies in the near future.”
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