Psychological well being chatbot Wysa scored $20 million in a Sequence B financing spherical led by HealthQuad.
Different contributors within the elevate embrace British Worldwide Funding (BII) and former traders W Well being Ventures, Kae Capital, Google Assistant Investments and pi Ventures.
The Sequence B comes a bit of over a yr after Wysa introduced a $5.5 million Sequence A fundraise. The startup additionally lately obtained FDA Breakthrough System Designation to make use of its chatbot with adults who’ve power musculoskeletal ache and associated melancholy and anxiousness.
WHAT IT DOES
Wysa presents an AI chatbot that may information customers by cognitive behavioral remedy for issues like low temper, anxiousness and stress. The startup’s employer providing additionally features a self-care library of workout routines round vanity, sleep and mindfulness, in addition to non-compulsory entry to Wysa human coaches.
Wysa stated the chatbot may also triage customers in direction of increased ranges of care, like a psychological well being skilled or a disaster assist line, if sufferers want extra assist.
The startup plans to make use of the inflow of capital to broaden globally, notably within the U.S., the U.Okay. and India. The Sequence B may also assist extra languages, in addition to entry by the messaging service WhatsApp.
“Wysa has not solely been extraordinarily profitable as a client well-being platform however has additionally developed right into a clinically validated, highly effective device to proactively handle psychological well being and well-being,” cofounder Ramakant Vempati stated in an announcement.
“Wysa meets individuals the place they’re, whether or not which means a bit of assist with occasional office stress, proper as much as dealing with debilitating ache, melancholy and anxiousness. With this funding, we look ahead to scaling-up additional and serving to tens of millions of extra individuals.”
One other firm providing a psychological well being chatbot is Woebot Well being, which lately scored a $9.5 million funding from Leaps by Bayer. Woebot additionally closed a $90 million Sequence B spherical and landed its personal Breakthrough System Designation for its postpartum melancholy digital therapeutic in 2021.
Although competitors is fierce within the bigger digital psychological well being area, the medical space continues to be a well-liked focus for traders. In response to Rock Well being’s newest digital well being funding report, psychological well being startups raised $1.3 billion by the primary half of 2022.