Dublin, Ireland-based provider of mental health and wellbeing services for insurers, employers, employees, and students, Spectrum.Life raised additional financing of EUR 5 million. The company announced the funding on February 10, 2023. Act Venture Capital led the financing for the firm. Meanwhile, existing and new investors joined in the financing.
So far, the company’s total financing stands at EUR 9 million.
Purpose of funding for Spectrum.Life
With the latest capital injection, Spectrum.Life seeks further develop and scale its platform.
Meanwhile, the company has plans to ramp up its hiring operations. It aims to expand its team. Besides, the company looks forward to the addition of new features and resources.
What the company’s CEO has to say
Stephen Costello, CEO of Spectrum.Life said, “We are thrilled to have the support of ACT and our other investors as we continue to grow and expand our innovative mental health, well-being and digital health offerings. Our goal is to make mental health and wellbeing support accessible to everyone, and this funding will allow us to bring our game-changing solutions to even more individuals and organisations.”
What the lead investor has to say
Debbie Rennick, General Partner Act Venture Capital, further said, “We are delighted to lead another round of funding into Spectrum Life. We have a strong conviction in this market opportunity and in the Spectrum Life team and platform. The Company’s strong growth and success to date are only the beginning of a great future. We believe that their platform has the potential to make a significant impact on the mental health and well-being of individuals around the world, and we are proud to support their further growth with this investment.”
About the company
Stuart McGoldrick, Dr Sarah O’Neill and Stephen Costello launched the company in 2018. The company provides an extensive range of holistic support, such as Mental Health and Wellbeing Coaches, Open-ended Therapy, Digital Clinics, Employee benefits advisory, and Financial advice. Moreover, Spectrum.Life gives 24*7 access to mental health and well-being support. Besides, it offers a personal Mental Health Coach and Open-ended Therapy. The Irish startup offers around-the-clock access to mental health and well-being support. In addition, it provides an end-to-end service to more than 2500 companies in the UK and Ireland. So far, the company claims to have served more than 4 million users. Universities such as the University of Kent, Bath Spa University, Middlesex University London, the University of Birmingham, the University of Bath, University of Highlands and Islands are enjoying the partnership with the Irish startup.
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