Intellect, the mental wellbeing startup centered on APAC, raises $10M Sequence A – TechCrunch

Mental wellness application Intellect’s founder and CEO Theodoric Chew

Intellect, the Singapore-primarily based psychological health startup focused generally on Asia-Pacific marketplaces, declared right now it has raised a $10 million Series A. The company’s products and services, which include self-directed psychological wellness applications in 15 languages and online treatment classes, are obtainable by two channels: as an employee profit and by way of Intellect’s buyer app.

The spherical, which Intellect statements is the major Collection A ever elevated by a mental health and fitness startup in Asia, was led by HOF Cash. New buyers bundled Headline, East Ventures, MS&Ad Ventures, DG Daiwa Ventures, Pioneer Fund and existing backer Insignia Ventures Companions also returned.

Intellect promises its 12 months-on-yr income grew by more than 20x in 2021, thanks in large portion to new organization shoppers like foodpanda, Shopback, Singtel, Kuehne & Nagel and Schroders. It also partners with insurers and positive aspects brokers like Mercer.

Co-founder and CEO Theodoric Chew informed TechCrunch that Intellect differentiates from other personnel wellness courses simply because “Intellect’s eyesight isn’t only to be a self-treatment application or an worker advantages system solely, but a entire psychological healthcare system for Asia. That drives a differentiated solution in how we develop our system which caters from the smallest of daily struggles as a result of self-guided applications, all the way to clinical therapy for long-term issues.”

The firm, a Y Combinator alum, will use the money to raise its product, engineering and industrial groups as it proceeds expanding into new markets. It presently has about a few million registered consumers, in a full of 20 nations, with a sturdy business existence in Singapore, Hong Kong and Australia, mentioned Chew.

The new round brings Intellect’s whole raised because its start in 2020 (when TechCrunch to start with profiled the company) to $13 million and also provided angel investors like Shopback co-founder and CEO Henry Chan Cathay Innovation’s Rajive Keshup former Headspace VP of Engineering Neel Palrecha Forge co-founder Samvit Ramadurgam Peak co-founder Sagi Shorrer Snap Inc. Director of Southeast Asia Anubhav Nayyar and Tinder and Match Team normal manager of Southeast Asia Gaurav Girotra.

The startup claims that amongst organizations that offer you it as an personnel profit, adoption rates regularly assortment among 20% to 40%, substantially higher than regular worker assistance plans.

The startup is taking part in 10 scientific studies in collaboration with academic institutions, such as the National University of Singapore, King’s University London, College of Queensland and the Singapore Normal Medical center, and says some of them have presently proven that Intellect increases stress, stress and melancholy amid buyers.

In a statement about the expense, HOF Capital associate Victor Wong reported, “The need for psychological wellbeing support is exceedingly well timed nowadays and it continues to rapidly expand in need across the world. Intellect has developed to in excess of 3 million men and women and enterprises throughout 20 international locations in just beneath 2 yrs and we’re incredibly psyched to back again them for the extensive phrase as they go on to rework hundreds of thousands of lives by inventing a new psychological healthcare method for workforces and folks throughout Asia.”