Singapore-founded mental health startup, Intellect, secures US$20 million, after raising an additional US$10 million in an extended Series A funding round led by Tiger Global.
Providing stigma-free and accessible mental health support across the globe, Intellect, a mental health startup established in Singapore, expanded its Series A funding round to raise a total of US$20 million, after procuring an additional US$10 million, led by Tiger Global. The extension round was further backed by existing investors including Insignia Ventures Partners and HOF Capital, and new venture capitalists, namely K3 Ventures, JAFCO Asia, and Singtel Innov8, as well as others.
The recent funding came to be one of the largest sums raised in a venture round for any Asian mental health startup, bringing the total capital procured since its founding in 2020 to US$23 million. Intellect plans to utilise the recent investments to aid its expansion plans to launch commercially in different markets and expand its operations, as well as create Asia’s first digitally-enabled unified mental healthcare system.
Intellect co-founder and CEO Theodoric Chew mentioned “Intellect’s mission is to normalise mental health and shift the culture towards more open conversations about personal wellbeing, ultimately removing the stigma attached.”
Intellect Co-Founders Theodoric Chew & Anurag Chutani from intellect.co
Launched in 2020, the startup offers a modern-day solution, making mental healthcare and wellbeing support accessible and inclusive for everyone in Asia. Effectively breaking stigma in Asian communities, it has served more than 3 million people from over 60 countries, with the help of expert therapists and coaches who are based in over 20 countries, and currently offers its service support in 15 languages.
Taking up a business-to-business-to-consumer model (B2B2C), it works in alignment with various companies to offer their services as an employee benefit. With a proven track record, Intellect existing clients accounts for many renowned names, including Merck, Philips, Foodpanda, Singtel, Omnicom Media Group, and others spanning different industries.
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