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Google-backed mental health startup Wysa closes $5.5M in Series A round

The Global artificial intelligence forward mental health platform Wysa said on Thursday it has raised $5.5 million in its Series-A funding which was led by W Health Ventures. 

It is a Boston-Based digital health investor, which participated in the first finding round of Wysa. 

Moreover, the Google Assistant program, and existing Investors pi Ventures, and Kae Capital also participated in the round. 

Breast proceedings will be used to provide its offering to employers who want to expand their mental health benefits as well as scale up its sales team and therapist network better. 

Talking about its seed Funding in 2019 which was led by pi Ventures, Kae Capital, and others. Now with the new deal, it has raised $9 million. 

Meanwhile commenting on the funding, the CEO and co-founder Jo Aggarwal said- “For the first time, employers use data to understand how the mental wellbeing of their employees is constantly changing, and how it compares against benchmarks. Today, every employer is looking for a solution that goes beyond traditional EAP. This investment allows us to bring the next generation of workforce wellbeing solutions to organizations across the country,” said Wysa Co-founder and CEO Jo Aggarwal.

One of the reports by Wysa states that around 60% of the working population struggle with negative thoughts, isolation anxiety, sleep issues, and more. Hence to improve their situation themselves rather than seeking clinical support. And for this, the company offers a clinically approved, AI-powered space that listens like a person and helps people to handle stress, and help in improving mental health. 

Not only this for enterprises in an organization it claims its service by giving real-time population-level insights related to their employees’ mental wellbeing additionally offers daily support from a dedicated well-being coach. 

By this year, Accenture rolled out the Wysa solution to its 500000 employees across 53 countries which also involves India. customize

The company has facilitated millions + conversations in around 65 countries for staff currently it is working with 20 organizational partners and 7 billion employees worldwide. Some of its top clients are Accenture Global, Aetna International, NHS, L’Oréal, Cincinnati Children’s  Hospital Medical Centre, and the Ministry of Health In Singapore. 

“As we enter the second year of the pandemic, many people are struggling and seeking mental health support. Wysa is an example of how technology is helping millions of people access everyday mental health support and self-care tools without being gated by a clinical diagnosis,” said Dr. Pankaj Jethwani, Executive Vice President at W Health Ventures.

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