Intellect, a Singapore-based startup, has secured a fundraise of US$ 2.2 million in a seed funding round led by Insignia Venture Partners. The financing round held on August 25 2021, also witnessed the partook of Y Combinator, XA Network and angel investors like Rainforest co-founder J.J. Chai; Prenetics and CircleDNA founder Danny Yeung; and Gilberto Gaeta, Google’s director of global HR operations. The startup is taking part in Y Combinator’s current batch, which holds its demo day by the end of the month.
Intellect plans to use the current funds to extend itself into more Asian markets. It currently covers 12 countries and 11 languages, collaborating in 10 studies with institutions like the National University of Singapore, King’s College London, University of Queensland and the Singapore General Hospital.
What the CEO has to say
Founder and Chief Executive Officer of Intellect, Theodoric Chew, said, “From individuals to companies, insurers and governments, all these different types of people and organisations are today prioritising mental healthcare on an individual and organisational level in an extremely rapid manner.”
Founded in 2019 by Anurag Chutani and Theodoric Chew, Intellect is a modern-day mental health company with a mission to make mental healthcare & well-being support accessible for everyone. The startup is currently the most extensive and fastest-growing mental health tech company in Asia and serves over 2 million members and leading organisations globally through our mental health platform.
Intellect gives two main products:
- A consumer app with self-guided programs based on cognitive behavioural therapy techniques
- A mental health benefits solution for employers with online therapy programs and telehealth services.
Intellect alleges to be currently providing services to more than 2.5 million app users and 20 enterprise clients, including Carousell, Schroders FoodPanda, Shopback, Avery Dennison, and government agencies.
With a usage rate higher than traditional EAP helpline solutions, Intellect, on average, views about 20% to 45% engagement within three months after being utilised by companies with more than 5,000 employees. It was also selected as one of Google’s Best Apps of 2020 and says studies so far have demonstrated improvements in mental well-being, stress levels and anxiety among its users. To know more, check out https://intellect.co/.
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