Wysa, an artificial intelligence (AI) powered digital mental health platform, raised $5.5 million. The funding round was led by W Health Ventures. Others participating in the round include the Google Assistant Investment program, and existing investors pi Ventures and Kae Capital. Wysa will use this capital to support its offering to employers who want to expand their mental health benefits, as well as scale up Wysa’s sales team and therapist network.
The platform is anonymous, secure, and available 24/7. It provides cognitive behavioral therapy (CBT), acceptance and commitment therapy (ACT), dialectical behavior therapy (DBT), mindfulness, and coaching exercises. More than 75% of users complete more than five sessions. Wysa customizes its support to employee needs, fits around existing resources, and gives employees complete anonymity as they work through their issues. In addition, for those who want to work through specific issues, Wysa offers daily support from a dedicated well-being coach.
The Wysa platform is now being used by 20 enterprise partners around the world. The solution is unique in its ability to integrate with its partners’ existing resources. For organizations, Wysa maintains employee anonymity yet gives real-time population-level insights and benchmarks related to their employees’ mental well-being. It also broadens the base of people who access employee assistance program (EAP), by engaging them early and guiding them to EAP resources when self-care is not enough. Wysa’s HIPAA compliant platform has facilitated more than 100 million conversations with more than 3 million users, and covers 10 million lives in at least 65 countries worldwide. It was also rated as the best app of 2020 by Google Play.
Wysa is a global leader in AI-driven mental health support, available both to individuals and through employer benefits programs. Wysa helps in dealing with stress, depression, and anxiety with the help of an “emotionally intelligent” bot, which uses evidence-based CBT, meditation, breathing and mindfulness exercises, as well as micro-actions to help users build mental resilience skills. For employers, Wysa offers a workplace solution that caters to the full spectrum of mental health needs. This solution embeds into existing company benefits, such as EAPs or external health care provider organization networks, and can be customized by geography or cohort. Wysa works with 20 enterprise partners and 7 million employees worldwide, with partners that include Accenture Global, Aetna International, NHS, L’Oreal, Cincinnati Children’s Hospital Medical Center, and the Ministry of Health in Singapore.
This was reported by Wysa Inc. on May 20, 2021.