MindFi, a Singapore-based Asia’s leading corporate mental health and wellness platform, announced an oversubscribed $2 million seed funding round that saw participation from existing investor M Venture Partners and Global Founders Capital fund, a backer of Canva and Slack.
Carousell co-founder Marcus Tan, Carro executive Kenji Narushima and Spin co-founder Derrick Ko also joined the round, among other prominent angel investors in US and Asia
The fresh funding allows MindFi to accelerate its AI-driven product development, localize in key markets, and further pursue its vision of “culturally competent” wellness in a region where cultural values such as interpersonal harmony, loss of face, and filial piety strongly influence people's receptivity to mental health services and support.
The Y Combinator-backed mental health platform aims to enhance daily work-life routines with a culturally competent and wearable-friendly mind training solution
Company: Jaedye Labs Pte. Ltd.
Round: Seed Round
Funding Month: February 2022
Lead Investors: M Venture Partners and Global Founders Capital fund
Additional Investors: Marcus Tan, Kenji Narushima, and Derrick Ko
Company Website: https://www.mindfi.co/
Software Category: Mental wellbeing platform
About the Company: MindFi is a Mental wellbeing platform for modern workplaces, delivers 24/7 guided self-care programs, community forums and group therapy, and intelligent matching with diverse coaches and therapists, all in a single mobile app. HR leaders and corporate clients can access anonymized analytics to measure and support their employees’ health and productivity. Since completing the Y Combinator program in September 2021, MindFi has tripled its employee headcount and recorded 5x annual revenue growth. The platform now operates in 20 markets across APAC, where its services can be accessed in 16 languages. Corporate clients include Fortune 500 companies and high-growth startups, such as Visa, Willis Towers Watson, and Patsnap, and to date, usage of MindFi’s app-based mental health and wellness programs is 10 times higher than traditional teletherapy services. MindFi's mission is to transform the narrative around mental health in Asia.