Global AI-powered mental health platform Wysa raised a $5.5 million led by W Health Venture


What is the news ?

Global AI-powered mental health platform Wysa has raised a $5.5 million Series A round led by W Health Ventures which is a Boston-based digital health investor . It was participated by Google Assistant Investment programme, and existing investors pi Ventures and Kae Capital . Wysa said it will use this capital to provide its offering to employers who want to expand their mental health benefits, as well as scale up its sales team and therapist network.


The startup had raised pre-Series A funding in 2019 led by pi Ventures, Kae Capital, and others . With the latest infusion, the Boston and Bengaluru-based startup has raised close to $9 million in funding so far.


Takeaway

Currently, Wysa has facilitated over 100 million conversations in 65 countries . It works with 20 enterprise partners and seven million employees worldwide, including Accenture Global, Aetna International, NHS, L’Oreal, Cincinnati Children’s Hospital Medical Center, and the Ministry of Health in Singapore.

Wysa’s internal data shows that 60 percent of the working population struggle with negative thoughts, anxiety, isolation, or sleep issues .Wysa offers a clinically approved, responsive, and AI-guided safe space that listens like a person and scales like a product. 


Manish Singhal, Founding Partner, pi Ventures, said, “With mental health becoming another pandemic in the making globally, there is an acute shortage of qualified mental health professionals to take care of the growing demand.