Wysa closes W Health Ventures-led Series A funding round worth $5.5 Mn

Wysa, an AI-powered mental health startup has recently announced the closing of a Series A funding round worth $5.5 million. This round was led by digital health investor W Health Ventures, based in Boston, with participation from the Google Assistant Investment Programme and other existing investors like Kae Capital and pi Ventures.

Wysa has reportedly stated that this capital will be utilized to deliver its offerings to employees that are looking to expand mental health benefits for their staff, as well as scale-up therapist and sales team networks.

In 2019, the company raised a pre-Series A funding round, led by Kae Capital, pi Ventures, and other investors. The latest round has brought the funding raised by the Bengaluru and Boston-based startup so far to nearly $9 million.

Co-founder and CEO of Wysa, Jo Aggarwal has reportedly stated that the latest investment helps the company bring next-gen workforce wellbeing solutions to businesses across the nation, as more and more employers begin to seek solutions that transcend conventional EAP.

Internal data from Wysa has revealed that nearly 60% of the working population suffers from anxiety, sleep problems, negative thoughts, or isolation. However, rather than seeking clinical aid, they prefer to find a solution to these issues themselves. Wysa has taken heed of this and is delivering a responsive, clinically approved, and AI-powered safe space that can listen like a person, whilst scaling like a product.

According to Executive VP at W Health Ventures, Dr. Pankaj Jethwani, many people are struggling through mental health issues and seeking support as the second wave of the COVID-19 pandemic sweeps across the country. He has apparently hailed Wysa as an example of the way technology can enable millions of people to gain easy access to daily self-care tools and mental health support, without the need for clinical diagnosis.

For the record, Wysa has orchestrated over 100 million interactions across 65 countries at present, working with more than 7 million employees worldwide and 20 business partners, including NHS, Accenture Global, Cincinnati Children’s Hospital Medical Center, L’Oreal, and more.

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