Wysa's AI-Guided Mental Health Program Raises $5.5M in Series A Round of Financing

Wysa's most outstanding recent funding round, guided by W Health Ventures, occurs when the digital mental health environment is exploding due to pandemic-induced isolation, stress, and burnout.

Fremont, CA: During Mental Health Awareness Month, Wysa, the world's leading AI-powered mental health network, raised $5.5 million in Series A round of financing led by W Health Ventures, a Boston-based healthcare technology investor. The Google Assistant Investment program and current investors pi Ventures and Kae Capital are all part of the round.Wysa will use the funds to grow its sales force and therapist network and support its service to companies looking to expand the psychological benefits.

"We are impressed with Wysa's uncompromising clinical safety and unparalleled patient-centricity. It maintains a near-perfect rating from approximately 100,000 reviews resulting from over 100 million conversations," said Dr. Pankaj Jethwani, Executive Vice President at W Health Ventures. "As we enter the second year of the pandemic, so many people are struggling and seeking mental health support. Wysa is an example of how technology is helping millions of people access everyday mental health support and self-care tools without being gated by a clinical diagnosis. We are thrilled to deepen our relationship to support Wysa's next phase of growth."

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According to internal Wysa numbers, 60 percent of the workforce is in the "missing centre" of mental health. People who struggle with suicidal emotions, anxiety, loneliness, and sleep problems, but instead of seeking psychological help, choose to focus on changing their condition themselves.That is what Wysa allows them to do. It provides a sensitive, AI-guided, clinically approved, safe environment that listens like an individual and scales like a product.

Wysa is confidential, safe, accessible 24 hours a day, seven days a week, and most importantly, reliable. In only five to ten minutes, people communicate to Wysa and entire cognitive restructuring (CBT), acceptance and engagement therapy (ACT), dialectical behavior therapy (DBT), mindfulness, and coaching activities. After only one session, over 90% of users say Wysa helps them feel great, and around 75 percent say they get more than five sessions.

Employee Assistance Programs(EAP) and mindfulness support are available at many large companies. However, it is difficult to tell if this is assisting employees and even more challenging to tailor it to any particular issues they could have, particularly throughout a pandemic.Wysa tailors its assistance to the employee's needs, works with their existing resources, and maintains complete anonymity while they work via their problems. Wysa also provides daily assistance from a solely devoted wellbeing coach to those that want to work through specific issues.Wysa keeps employee secrecy while providing companies with real-time population-level data and feedback on the employees' mental health. It also increases the number of people who use EAP by engaging people earlier on and directing them to EAP services when self-care is insufficient.

Wysa's solution is famous for incorporating available resources for significant corporations like Accenture and Aetna International. Wellbeing managers can acquire information for each country and build personalized pathways to in-country EAP and wellness opportunities as Accenture rolled out Wysa to 500,000 workers across 53 countries this year.

Wysa's HIPAA-compliant app has enabled over 100 million interactions with over 3 million users and spans over 10 million lives in more than 65 countries worldwide. Google Play named it the best app of the year in 2020.

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