Wysa secures $20Mn to expand its range of mental health services

By Vinisha Joshi  | Date: 2022-07-16

Wysa secures $20Mn to expand its range of mental health services

Wysa, a mental health support app across an AI chatbot that allows users to talk about their feelings, has recently secured $20 million in a Series B financing round for expanding its business on the verge of reaching 4.5 million users in 65 countries.

This new all-equity round was headed by HealthQuad, a digital health-focused venture capital fund, along with participation from the U.K.’s development finance institution, BII (British International Investment).

The firm plans to leverage the investment to expand its footprint in domestic and international markets like U.S. and U.K., where it already holds approval from the FDA and the NHS (National Health Service).

The NHS also uses it as part of its online mental health services. It will also be using this investment for building new partnerships, launching new products, and offering new languages for support.

Initially built for working in English, Wysa is planning to use some of the investment for broadening multilingual support. At present, team Wysa consists of 100-150 people.

The earlier backers of the company included Amazon and Google (who invest via digital assistant funds).

Earlier to this round, Wysa had secured $9.4 million. However, the valuation of the same was not revealed by the company.

Till today, Wysa has served around 400 million conversations to approximately 4.5 million users in about 65 countries. Its growth indicates concerns about the stress levels that have occurred after the COVID-19 pandemic and less availability of resources for dealing with the same.

Wysa, who currently operates in Bengaluru, Boston, and London, is endorsed as a solution for filling this gap. In 2016, Jo Aggrawal, the CEO and co-founder, conceptualized the app that offered a wide range of therapeutic techniques to its users.

Source Credit - https://techcrunch.com/2022/07/14/wysa-20-million-series-b-funding-expand-therapist-chatbot-wider-mental-health-services/

About Author

Vinisha Joshi     thisisourtownrichmond.co.uk

Vinisha Joshi

As a qualified Engineering graduate, Vinisha Joshi takes pride in playing with words. Presently, she pens down insightful articles on business, core industry, technology, and the like for Thisisourtownrichmond in addition to other platforms. Creativity comes naturally...

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