Theodoric Chew, co-founder and ceo of mental health app Intellect Intelligence, a Singapore-based startup that wants to reduce barriers to mental health care in Asia, states it has actually reached more than one million users just six months after releasing. Google also revealed today that the start-up’s consumer app, likewise called Intelligence, is among its picks for finest personal growth apps of 2020. The company just recently closed a concealed seed round led by Insignia Ventures Partners. Angel financiers including e-commerce platform Carousell co-founder and president Quek Siu Rui; previous Sequoia partner Tim Lee; and startup consultancy xto10x’s Southeast Asia CEO J.J. Chai likewise got involved.
In a declaration, Insignia Ventures Partners principal Samir Chaibi said, “In Intellect, we see a fast-scaling platform dealing with a pain that has actually ended up being extremely apparent in the middle of the COVID-19 pandemic. We believe that pairing clinically-backed procedures with an efficient mobile-first delivery is the key to break down the barriers to access for countless patients internationally.”
Co-founder and president Theodoric Chew released Intelligence previously this year due to the fact that while there is a growing swimming pool of psychological health apps in the United States and Europe that have attracted more funding throughout the COVID-19 pandemic, the space is still very young in Asia. Intellect’s goal is encourage more individuals to incorporate psychological health care into their everyday regimens by lowering barriers like high expenses and social preconception.
Intelligence provides two items. One is a consumer app with self-guided programs based upon cognitive behavioral therapy strategies that center on problems like relationship, stress and anxiety or self-esteem concerns.
The other is a psychological health platform for employers to provide as an advantage and consists of a recently released telehealth service called Behavioural Health Training that links users with psychological health professionals. The service, which includes one-on-one video sessions and limitless text messaging, is now a core part of Intellect’s services, Chew informed TechCrunch.
Intelligence’s enterprise product now reaches 10,000 staff members, and its customers consist of tech companies, regional operations for international corporations and medical facilities. Many lie in Singapore, Hong Kong, Indonesia and India, and variety in size from 100 to more than 3,000 employees.
For numerous small- to mid-sized companies, Intelligence is frequently the first mental health advantage they have actually provided. Bigger customers might already have EAP (staff member support programs), however Chew said those are typically underutilized, with an average adoption rate of 1% to 2%. On the other hand, he stated Intellect’s worker benefit program sees a typical adoption rate of 30% in the first month after it is rolled out at a business.
Chew added that the COVID-19 pandemic has prompted more business to deal with burnout and other psychological health problems.
“In regards to bigger patterns, we’ve seen a substantial spike in companies throughout the area having psychological health and health and wellbeing of their employees being prioritized on their agenda,” said Chew. “In regards to user patterns, we see a considerably greater utilization in work stress and burnout, stress and anxiety and relationship-related programs.”
Intellect’s seed round will be utilized to broaden in Asian markets and to assist fund scientific research studies it is currently performing with universities and organizations in Singapore, Australia and the UK.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.