Frankie Well being raises $1.25m for its psychological wellbeing app

The Dublin start-up will make investments the brand new funds in including 20 new workers to its engineering, design and advertising and marketing groups.

Psychological well being app Frankie Well being has raised $1.25m in a seed funding spherical led by Hong Kong agency E15 VC.

Frankie Well being, based by James McGann and Seb Poole, is a psychological well being app that connects a enterprise’s staff with therapists to ship personalised workout routines to cut back stress and anxiousness.

The platform is free for therapists to make use of, with classes and workout routines protected with end-to-end encryption.

Citing figures from the World Well being Group, the start-up mentioned that psychological well being problems have an effect on one in 4 folks. It mentioned that stress and burnout have a significant impression on companies’ productiveness and worker attendance.

“Psychological well being is a spectrum that all of us transfer up and down on. When staff are feeling good, they are often constructing resilience by finishing confirmed workout routines that develop psychological energy,” McGann mentioned. “And when more durable instances come, staff ought to get rapid help from the very best high quality sources.”

The funding was led by Hong Kong enterprise capital agency E15 VC, which has invested in a number of health-focused corporations together with Auris Well being, which was acquired by Johnson & Johnson in 2019.

E15 VC managing accomplice Philip Liang mentioned: “The [Frankie] staff combines unimaginable insights to psychological well being with the power to develop scalable expertise. From household companies in psychological well being to studying meditation in Nepal, Frankie’s staff is uniquely positioned to assist handle ever demanding psychological well being wants.”

Frankie Well being plans to speculate the funds in hiring 20 folks in engineering, design and advertising and marketing over the subsequent yr and a half.

The marketplace for office wellness companies is now valued at greater than $48bn and psychological well being and wellbeing apps attracted quite a lot of VC consideration during the last yr. In accordance with an evaluation by Pitchbook, such apps raised greater than $1.3bn by late 2020 amid the pandemic, eclipsing the $1.06bn raised in 2019.

Mindstrong raised $100m final yr with Jeff Bezos’s funding agency amongst its backers whereas Lyra Well being is reportedly elevating an extra $175m that may worth the corporate at $2.25bn.