Seedcamp is Europe's seed fund, identifying and investing early in world-class founders attacking large, global markets and solving real problems using technology. The Seedcamp Nation includes over 400 startups building breakout businesses that change the way people live, interact and buy and includes publicly listed UiPath, Wise, and unicorns Revolut, Hopin, Sorare, Pleo, and wefox along with fast-growing businesses such as Grover, viz.ai and Ezra.  Seedcamp fast-tracks a founder's vision and creates value through immediate access to smart capital, a lifelong community of support and a global network built upon more than a decade's experience backing exceptional talent. Seedcamp fast-tracks a founder's vision and creates value through immediate access to smart capital, a lifelong community of support, and a global network built upon more than a decade's experience backing exceptional talent.

Seedcamp

Passion Capital is a partnership of entrepreneurs and operators applying their experiences to helping founders and early-stage teams build great digital media/technology companies. They are Stefan Glaenzer, Eileen Burbidge and Robert Dighero.  They have been personally involved in the largest European technology exits of the past decade, including the biggest exits of the year for 4 of the past 10 years by market value (Ricardo.de acquired by QXL, Skype purchased by Ebay, Last.fm acquired by CBS, and QXL/Tradus acquired by Naspers) and want to be involved in many more.  They believe that the critical differentiator and key asset of a successful business is the passion and ability of its founders.  They are committed to fostering an ecosystem of technology, collaboration and executional excellence in Europe. As an example of this, White Bear Yard is their own hub for activities, ambitions and energy and where have fun in the process.

Passion Capital

PROfounders Capital is a London-based venture capital firm focused on investing in early-stage technology-enabled businesses across Europe. They have the great privilege of being backed by a group of experienced investment partners who have collectively founded, built and exited some of Europe's most successful technology businesses. They invest across a number of sectors including Mobile, Travel, E-Commerce, FinTech, B2B SaaS any many more,  but with a strict focus on companies that use technology to improve pain points for businesses or consumers.

PROfounders Capital

Ascension is an early-stage VC built by exited entrepreneurs to back the next generation of tech and impact founders. Run by an experienced and diverse team of successful entrepreneurs, we have been relentlessly dedicated to finding the UK’s best Seed-stage startups since 2014. Ascension benefits from the active industry connections essential for the sourcing and development of deal-flow and due diligence. The team has co-invested with the UK’s leading angels and VCs, key to securing follow-on funding as the portfolio businesses move to their next stage of growth. We believe in building an inclusive, community driven brand that can benefit the wider UK tech ecosystem and strive to work with conviction, integrity, humour, and humility.

Ascension

The Slack Fund is an investment fund to support slack teams building products that enable more productive workplaces.

Slack Fund

MindLabs

MindLabs is the world's first live mental health platform.

<div>MindLabs, a UK-based digital wellness company, was founded in May 2020. The company provides live videos sessions with therapists trained in meditation and mindfulness exercises. The app also allows interactions between members in the therapy sessions and the ability to share goals and achievements and also enables connectivity to user's existing connected devices.</div>

A new industry proving that digital connectivity and mental health can co-exist.

Digital Wellness

<div>MindLabs is a UK-based digital mental health and wellness startup that provides on-demand and live video classes hosted by trained professionals in cognitive therapy, mental wellness, psychology, and neuroscience. The app also allows users to track their progress, interact with other members and share their goals and achievements. The app also enables connectivity to user's existing fitness devices.</div>

New technologies are opening up mental health services to previously overbooked and underserved populations.

Mental Health Tech

<div>
 
 MindLabs, a UK-based digital wellness company, was founded in May 2020. The company provides live videos sessions with therapists trained in meditation and mindfulness exercises. The app also allows interactions between members in the therapy sessions and the ability to share goals and achievements and also enables connectivity to user's existing connected devices.
 
 
 The company raised USD 3.5 million in a seed round led by PROFounders Capital in October 2021 and the new funds will be used to further develop its app (in beta) as well as grow its engineering, content, and marketing teams, ahead of its public launch in Q1 2022. The app will be available first in the UK before launching in the US. In the long term, the company plans to expand into non-English speaking countries and introduce wearables such as an electrophysiological monitoring headband that measures vital signs track the effectiveness of a user's session. 
 
</div>

<div>
 
 Headspace is a digital wellness company that delivers meditation programs through a smartphone app. The company was founded by Andy Puddicombe, a former Buddhist monk, and Richard Pierson, a marketing and brand development professional. In addition to meditation, Headspace offers stress management programs, mindfulness activities, and sleep therapy solutions. Headspace also operates a&nbsp; business-to-business (B2B) focused &ldquo;Headspace for Work&rdquo; program with around 1,600 corporate customers as of January 2021, which has seen around 3x growth during 2020. Further, the company operates &ldquo;Headspace for Health,&rdquo; a program that develops US Food and Drug Administration (FDA) approved meditation tools to treat chronic diseases.
 
 
 As of January 2023, the company has over 100 million users across 190 countries, with its brands &ldquo;Headspace for Work&rdquo; and &ldquo;Ginger&rdquo; being used by over 4,000 enterprises including Starbucks, Adobe, Delta Air Lines, Mattel, and Paramount. The company also partners with a health plans, such as Cigna, to provide its services. 
 
 
 In January 2022, the company 
 <a href="https://sp-edge.com/updates/7781">
 acquired Sayana
 </a>
 , an AI-powered mental health provider which helps employees manage stress and anxiety, improve sleep and increase productivity. The acquisition was carried out to expand Headspace's services to provide personalized self-care to its users. 
 
 
 In June 2022, the company launched a 
 <a href="https://sp-edge.com/updates/11145">
 new training program for senior leaders
 </a>
 and managers to support mental well-being in the workplace. 
 
 
 In September 2022, the company 
 <a href="https://sp-edge.com/updates/12918">
 acquired fellow mindfulness platform Shine
 </a>
 for an undisclosed amount. The acquisition enhanced Headspace Health&rsquo;s offerings by supporting inclusiveness and diversity while also growing Headspace&rsquo;s member base. Select content from Shine was earmarked to be added to Headspace Health&rsquo;s content library. 
 
 
 In November 2022, the company launched a new platform that combines its product offerings with mental health platform Ginger&rsquo;s 
 <a href="https://sp-edge.com/updates/5119">
 an entity it merged with in August 2021
 </a>
 . The platform combines Headspace Health&rsquo;s meditation and mindfulness services with Ginger&rsquo;s on-demand coaching, therapy, and psychiatry services, to offer enterprise clients an integrated solution for supporting their employees.
 
 
 In January 2023, the company 
 <a href="https://sp-edge.com/updates/16052">
 expanded its geographical reach
 </a>
 to offer coaching, therapy, and employee assistance-related services to UK headquartered enterprise clients. The company stated it plans on continuing this international expansion into other countries throughout 2023 but did not mentioned specifics.
 
 
 Key customers and partnerships
 
 
 In June 2023, the company 
 <a href="https://sp-edge.com/updates/19771">
 extended its partnership with with employee benefit management platform provider Virgin Pulse
 </a>
 to integrate its platform with Virgin Pulse&rsquo;s platform. This integration enables employees enrolled in Virgin Pulse&rsquo;s health benefit offerings to access the full suite of Headspace&rsquo;s offerings as a part of Virgin Pulse&rsquo;s Homebase for Health platform.
 
 
 Most recently, in March 2024, Headspace 
 <a href="https://sp-edge.com/updates/27330">
 partnered with Meta
 </a>
 to launch &quot;Headspace XR,&quot; available for an upfront fee of USD 30. Headspace XR provides guided mindfulness and meditation exercises led by the same instructors familiar to regular Headspace users. The exercises cover activities such as breathing techniques, body scans, and mood tracking. Additionally, it incorporates a social element, including interactive metaverse-style gaming in vivid environments.
 
 
 Funding and financials
 
 
 In July 2023, the company raised USD 105 million in debt funding from Oxford Finance. The funding was set aside to develop and enhance the company's platform, with a focus on its enterprise offerings, such as in-person clinical care capabilities, substance use disorder support, and next-generation EAP services.
 
</div>

Headspace

<div>
 
 Calm is a digital wellness company which offers guided meditations to make people happy as well as mindfulness and sleep programs through a smartphone app. Its audio content is designed to strengthen mental fitness and address mental health challenges such as stress, anxiety, insomnia, and depression. The company started out as a website in 2011 where users were trained to stare at a screen and listen to waves on a beach for two minutes without touching their mouse. In February 2013, more content was added and the company launched a mobile app. Calm was named by Apple as the 2017 iPhone App of the Year and received Editors' Choice certification by Google in 2018. Calm offers content in English, Spanish, French, and German and operates Calm Business, a business-to-business (B2B) covering over 10 million employees as of March 2022. 
 
 
 
 
 Calm gained significant traction in 2020 during the Covid-19 lockdowns. It became the most downloaded digital wellness app during April 2020 with 3.9 million downloads worldwide, including 1.6 million downloads in the US. Kaiser Permanente, a large managed care service provider, provided Calm free for its 12.4 million members in May 2019. Calm also partnered with CNN on the 2020 US presidential election day to play the sound of rain hitting leaves on air, a marketing effort that went viral on social media.
 
 
 As of December 2020, Calm has reported over 100 million app downloads (compared with over 40 million in early 2019 and over 80 million as of May 2020) and was valued at USD 2 billion. 
 
 
 In October 2022, the company 
 <a href="https://sp-edge.com/updates/13853">
 launched a new clinical mental health offering
 </a>
 called &ldquo;Calm Health,&rdquo; marking its expansion into the mental health space. The new solution provides condition-specific programs designed to bridge mental and physical care and includes tools for communication with providers and medication tracking. This solution was created for the company by Ripple Health, which was 
 <a href="https://sp-edge.com/updates/8246">
 acquired by Calm
 </a>
 in February 2022. 
 
 
 Key customers and partnerships
 
 
 As of December 2022, the company has partnered with over 20 brands to collaborate and provide its services through sales partnerships. These brands include Xbox, Amazon, YouTube, Adidas, Fitbit, and American Express. 
 
 
 Funding and financials
 
 
 In December 2020, Calm raised USD 75 million in a series C funding round led by Lightspeed Venture Partners doubling it&rsquo;s valuation to USD 2.0 billion. Calm planned to use the funding to expand operations globally and broaden its B2B offerings.
 
</div>

Calm

<div>
 
 Simple Habit is a guided meditation service provider, which offers bite sized, five-minute long meditation sessions through an app targeting people with busy schedules. The company also offers mindfulness, sleep, and wellness programs. As of November 2020, Simple Habit offered over 2,000 sessions designed to help users sleep, reduce anxiety, and get over relationship issues. The content is organized by occasion, such as commuting, going to sleep or preparing for a meeting. 
 
 
 In June 2022 the company launched its Sleep Habit app, a virtual sleep clinic that helps users improve the quality of their sleep. The app uses clinically validated approaches to improve sleep quality and treat issues such as insomnia via methods such as cognitive behavioral therapy. 
 
 
 As of September 2022, Simple Habit claims to have a 7 million users between both of its apps. 
 
 
 
 
 In November 2018, Simple Habit raised USD 10 million in a Series A round led by Foundation Capital, bringing the company’s total funding to USD 12.6 million. The company used the funds to expand its library of guided meditation sessions and to add audio content led by therapists and executive coaches. As of late 2018, the app was reported to sign up as many as 30,000 new users per week. As of November 2020, Simple Habit reported having helped helped over five million people reduce burnout through its app’s services.
 
</div>

Simple Habit

<div>
 
 Insight Timer is a company which offers guided meditation, yoga, and sleep programs through a smartphone app. It also offers free interactive live sessions with teachers, performers, and therapists through the app and web. The company’s business-to-business (B2B) offering, “Circles for teams”, targets enterprise customers to help bring employees together to practice group meditations, chat with each other, and recommend content. In October 2020, Insight Timer began offering free, daily live yoga classes from instructors based on a pay-what-you-can model.
 
 
 
 
 As of October 2020, Insight Timer featured around 8,000 meditation teachers providing over 70,000 free tracks on guided meditations in 50 languages as well as 5,000 music tracks. The company has also claimed that it ranks first in the US among meditation apps in terms of the time spent by users with Insight Timer boasting 63% of the time spent on meditation apps as of 2018.
 
 
 
 
 The majority of the content is available for free, and users can sign up for a premium version at a price of USD 9.99 per month or USD 59.99 per year. Premium users get access to content such as Insight courses and the ability to download content.
 
 
 
 
 In January 2020, the company raised USD 27.4 million. As of November 2020, the monthly operating cost of the company is reported to be around USD 1 million and Insight Timer has failed to break even as of the end of 2020. The founder attributes the significant growth of the company to its free content and has advocated against moving too much of its content behind the premium subscription paywall. As of November 2020, the app had a 16% 30-day retention rate, more than double the average retention rate of 7.7% for top 100 apps in Apple’s App Store. As of November 2021, the company has 19 million users. 
 
</div>

Insight Timer

<div>
 
 Big Sky Health is the developer of the Oak Meditation breathing app. Oak Meditation offers guided and unguided meditations, sleep meditations, meditation timers, yogic exercises for breathing, animated instructions, and music tracks. The company is headed by Mike Maser, an entrepreneur who was diagnosed with stage IV cancer. Most of the companies services are offered free of charge with in-app purchases ranging from USD 5.99 to USD 38.99.
 
 
 
 
 In addition to Oak meditation, Big Sky also offers a fasting app called Zero and an alcohol moderation app called Less. In May 2020, Big Sky raised USD 8 million in Series A funding in a round led by Greycroft with participation from existing investors True Ventures and Trinity Ventures, bringing the company’s total funding to USD 12.2 million. Big Sky Health expects to use the funds to expand its staff and boost customer acquisition.
 
</div>

Big Sky Health

Some digital wellness providers provider VR/AR experiences for meditations

Some companies offer personalized care/meditation plans, workout regimens, or treatments for sleep disorders

Offers app-based platforms that improve health and wellness

Apps that provide relaxation, stress reduction and non-therapeutic mental health support via meditation-related techniques.

<div>
 
 MindLabs is a UK-based digital mental health and wellness startup that provides on-demand and live video classes hosted by trained professionals in cognitive therapy, mental wellness, psychology, and neuroscience. The app also allows users to track their progress, interact with other members and share their goals and achievements. The app also enables connectivity to user's existing fitness devices. 
 
 
 The company raised USD 3.5 million in a seed round led by PROFounders Capital in October 2021 and the new funds will be used to further develop its app (in beta) as well as grow its engineering, content, and marketing teams, ahead of its public launch in Q1 2022. The app will be available first in the UK before launching in the US. In the long term, the company plans to expand into non-English speaking countries and introduce wearables such as an electrophysiological monitoring headband that measures vital signs track the effectiveness of a user's session. 
 
 
 
 
 
 
 
</div>

<div>
 
 Boulder Care is a telepsychiatry platform that connects patients who are opioid-addicted users to addiction specialists, care coordinators, and peer coaches. Patients can get personalized plans via video and text messaging and the app is intended to be used in conjunction with prescription medicines and lab tests.
 
 
 Funding and financials
 
 
 In June 2022, the company raised USD 36 million in a Series B funding round. The funds were earmarked to triple the size of the company’s medical care team, expand its geographical footprint, and increase its value-based care treatment options through partnerships with health plans.
 
</div>

Boulder Care

<div>
 
 7 Cups provides an emotional-support platform with a network of volunteer listeners. Users can anonymously access either one-on-one chats or group chats 24/7, free of charge for issues such as depression, anxiety, relationships and those related to the LGBTQ+ community. It also teaches users skills such as meditation to improve their lives. If users want additional support, the company also provides access to an online therapy platform with a network of 180 licensed therapists for a subscription plan of USD 150 per month. 7 Cups is available for users above 13 years of age (users between 13 and 17 years old engage with listeners who are specifically trained in teenage interactions).
 
 
 Volunteer peer listeners get free training and support as well as flexible scheduling. Once a user requests a chat, it will be directed to available listeners and if the user requests a specific listener, he will be connected as soon as the listener accepts the demand. The service is anonymous and the listener has no access to the details of the user unless the information is disclosed to the listener by the user in their conversations. As of January 2022, 7 Cups has facilitated more than 51 million conversations, served 25 million individuals, and had 300,000 trained listeners. The listeners serve in 180 countries in 140 languages.
 
</div>

7 Cups

<div>
 
 wayForward provides technology-supported behavioral health and emotional wellness services for employers planning to make services available to their employees. It uses a screening procedure designed by neuropsychologists to triage and help employee members get clinically relevant mental healthcare. The company provides a self-guided app, text-based coaching, video visits, telepsychiatry, and if required, in-person visits or an on-site counselor. wayForward leverages its evidence-based approach and artificial intelligence in delivering its services and claims that it has been able to reduce anxiety symptoms by 48% and depression symptoms by 59%.
 
 
 The company raised USD 2 million in a seed round in June 2020, which brought total funding to USD 4.5 million. DarioHealth, a chronic disease management platform based in Israel, signed a definitive agreement to acquire 100% of wayForward in May 2021 for a total consideration of USD 30 million. As of May 2021, the wayForward had approximately 20,000 members and was available in North America, Australia, and Europe. 
 
 
 
</div>

wayForward

<div>
 
 Coa is a mental health company that conducts online classes led by licensed therapists for mental health users. The classes focus on conditions such as stress, anxiety, confidence and relationships. The company raised USD 3 million in a seed round in October 2020 from investors led by Crosslink Capital.
 
</div>

<div>
 
 Meru Health is an online platform that connects patients experiencing stress, depression, anxiety, burnout, and other mental health issues to licensed therapists. The company was founded by Kristian Ranta in 2016 after his older brother died from suicide after battling depression. The platform offers a 12-week program and personalized text-based coaching services and virtual workshops. Meru also provides access to progress reports and anonymous peer support groups as well as sleep, nutrition, and mindfulness advice on top of vital tracking information—such as heart rate data.
 
 
 The company reported a 10x YoY growth in its customer base in 2020 and plans to serve 10 million users by 2027. The company also achieved 8x YoY growth in revenue in 2020 amid an increase in demand in mental health services brought about by the Covid-19 pandemic.
 
 
 Key customers and partnerships
 
 
 In September 2022, Meru Health and clinical trial platform Curebase 
 <a href="https://sp-edge.com/updates/13230">
 announced a partnership
 </a>
 to carry out a three-year clinical trial to measure the effectiveness of Meru Health’s 12-week digital depression treatment targeting primary care patients. The study was funded by the National Institutes of Health’s Small Business Innovation Research program. 
 
 
 
 
 
 Fundings and financials
 
 
 In May 2022, the company secured a USD 2 million grant from the National Institute of Mental Health to measure the effectiveness of its 12-week program for treating primary care patients. The study will follow 300 patients across the US with symptoms of major depression for a period of three years.
 
</div>

Meru Health

Offers virtual offerings for mental health consultations

Mental healthcare services offer personalized care tailored to a user's needs and treatment progression

There are mental health providers offering services specifically to help LGBTQ+ or BIPOC individuals

Several mental health technology providers offer therapy services rendered by AI/ML technology

Subscription or membership-based platforms and apps to connect therapists, psychiatrists or behavioral health coaches with patients.

MindLabs

Digital Wellness

Key stats

Recent Updates

MindLabs launches its live mental wellness platform

MindLabs raises USD 3.5 million in seed funding

MindLabs raises USD 3.5 million in seed funding

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