UNIQA Ventures, an Austrian venture capital firm, led a €10M Series A investment in Spanish HRtech ifeel, an emotional well-being solution for businesses. Nauta Capital and other investors also took part in the investment round.
In the workplace, 1 in 6.8 people has mental health issues. As employers hunt for solutions to address the emotional well-being of their employees, ifeel strives to close a critical gap in the market.
Since its founding in 2017, ifeel has raised a total of €18 million; the additional €10 million investment will be utilized to grow the company into new areas, introduce new products, and improve sales skills. The business will also keep concentrating on big businesses.
The balance between what happens at work and outside of it is necessary for good health. We do not strictly distinguish between our personal and professional lives because everything is personal. We genuinely think that taking care of our well-being shouldn’t be put on hold because of employment. On the contrary, it ought to be a place where we feel good and can flourish in various ways. The CEO of ifeel, Amir Kaplan, stated, “Going forward, our goal is to assist businesses in integrating this philosophy into their corporate culture.
A powerful European player with a B2B2C mental health platform, according to UNIQA Ventures. With the help of its instruments, it is feasible to provide services to huge clients with several end users simultaneously and still have profitable margins.
ifeel was founded by Amir Kaplan, Martín Villanueva, and Gabriele Murrone. The catalyst came about as a result of their personal experience with the challenges of finding a flexible, reasonably priced, and online treatment service with a qualified psychologist.
The Madrid startup combines individual psychotherapy sessions with AI. The tool, which is used by AXA Partners, SCOR SE, Glovo, Travelperk, Gympass, Thoughtworks, and González Byass among others, gives HR managers information on the psychological health of their staff.
According to their requirements and interests, a person can access a variety of resources through their tools, including articles on health-related subjects, an emotions diary, audio guides, and tools to promote relaxation or meditation. Through the service, they can also initiate an online therapy session or speak with licensed psychologists directly.
Additionally, the service is offered in 21 different languages, has more than 600 psychologists working for it in 23 different nations, and has been used by more than 800,000 people globally.
The Ryff’s Emotional Wellbeing Index, one of the newest features, was created in conjunction with Professor Carol Ryff of the University of Wisconsin-Madison. Ryff’s psychological well-being scale, which is the basis of the questionnaire, has 18 questions that assess people’s emotional health.
They can utilize the findings in discussions with their psychologist, if desired, to track how their mental health changes from month to month.
HR managers can use the anonymized, aggregated data to help them better understand the psychological challenges employees are facing at work and to help them make decisions that will improve employee wellbeing overall.
ifeel’s team currently consists of 80 people, with 40% of the workforce being international, 31% male, 69% female, and 60% of the team having joined within the last two years.
Image Credit: ifeel