Mental health platform Unmind announced that it received funding from TELUS Global Ventures, an investment arm of TELUS, as part of its $35 million investment round.
The funding includes additional support from existing investors Project A, Felix Capital and Sapphire Ventures. Unmind has raised $82 million to date.
The company also announced the appointment of Laura Moniz de Aragao as chief revenue officer. Moniz de Aragao joins Unmind from BetterUp, where she was regional vice president of sales for global strategic accounts.
Moniz de Aragao will lead the global go-to-market strategy for Unmind, focusing on accelerating U.S. expansion and increasing strategic partnerships.
WHAT IT DOES
Unmind provides mental health assessments to help employees track their mental health over a period of time.
Users can tap into self-guided tools that focus on sleep, nurturing relationships, reducing stress and managing anxiety.
The platform also provides employees with AI-powered mental health training and an employee assistance program to support well-being.
Unmind will use the funds for U.S. and global expansion.
"This new funding means we can accelerate our mission of unleashing human potential at work," Nick Taylor, CEO and cofounder of Unmind, said in a statement.
"We're excited to grow our impact and change the way companies approach mental health, blending expert care with smart technology to reach millions of people around the world."
MARKET SNAPSHOT
In 2023, Unmind acquired employee mental healthcare platform Frankie Health. In addition, the company launched Unmind Talk, an offering based on Frankie Health's global network of mental health providers.
As a result of the acquisition, employers gained access to anonymized data, including analytics on employee turnover, decreased mental health and absenteeism.
In 2021, Unmind scored $47 million in Series B funding for its workplace mental health platform.
In 2020, the company partnered with Major League Baseball (MLB) to supplement the organization's mental health resources, which included employee assistance professionals and psychologists, that MLB and its clubs already have in place.
The company closed its $10 million Series A round led by Project A in 2020 and in 2019 scored $3.94 million (€3.4 million raise) from private investors.
