Tech

MyMynd Secures £ 650,000 Pre-Seed Investment From Investors Including Triple Point Ventures – UK Technology Investment News

The mental health platform used by NHS England and NHS Improvement proactively identifies people at risk of mental ill health and provides targeted support right where needed to build resilience

London, 12th May: MyMynd, the employee mental health platform, has received £ 650,000 in pre-seed funding from investors including Triple Point Ventures and multiple angel investors including Andrew Nadin, Southeastern Grocer’s Chief Customer and Digital Officer; Maurice Abboudi, serial hospitality entrepreneur and investor in BBC 2’s “My Million Pound Menu”; and Will Jones, founder of the Wordery online bookstore.

MyMynd provides employees with a digital platform through which they can access mental health assessments based on clinically validated tools. These assessments enable employees to gain a detailed understanding of mental health risks and wellbeing, and users are guided towards resources related to their needs to improve their ability to cope. The platform’s proprietary algorithm can detect those in difficulty, and MyMynd’s skilled rescue team provides additional guidance and support.

Senior officials of the NHS Confederation and the Royal College of Psychiatrists recently announced that millions of people face a “second pandemic” of mental health problems caused by trauma, prolonged isolation and financial pressure. The Mental Health Foundation, a mental health charity, has estimated that mental illness currently costs the UK economy up to £ 100 billion due to lost productivity.

MyMynd is already used by the NHS, where staff have taken 8 million days of mental illness in the past five years and relationship feeling “brutalized” by an extreme workload. The mental health platform now has partnerships with a number of NHS Trusts and departments within NHS England and NHS Improvement.

The company was co-founded by CEO Henry Majed, who is Visiting Fellow at the Skoll Center for Social Entrepreneurship, Said Business School, (University of Oxford) and a consultant to the World Health Organization (WHO); and Chief Product Officer Leon Rodin, who has a leadership background in the public sector, charity and EdTech.

The company also has an all-star advisory board including Tim Golding, former Director of Operations at Tesco; Abishek Varadarajan, Meta Product Manager; Saul Betmead de Chasteigner, former CMO of the United Nations World Food Program; Nicola McConnville, Partner of the Taylor Vinters law firm; and Benjamin Chilcott, former Global Executive Board Director, Iris Worldwide.

Majed said, “Isolation and uncertainty have amplified a silent mental health crisis in the workforce across all sectors. Unfortunately, millions of people are more vulnerable, less able to cope and are at greater risk of Burnout.

“For employers, this is a delicate situation. How do you support people without knowing who is suffering? How can we anticipate mental health and well-being and take action before people hit a crisis or target resources and support? MyMynd is changing this: it’s proactive, it’s personalized, and it works. What sets us apart is the scale of engagement and impact we are already having, with our customers telling us that up to 70% of their employees use our service versus 1% – 5% for other services. “

Chris Lascelles, investor of Triple Point Ventures, said: “The mental health crisis here in the UK is an increasingly serious problem. Unfortunately, it has not been a problem that companies have been able to solve very successfully to date. That’s why MyMynd is so exciting – their engagement numbers are fantastic for this type of tool, testifying to its effectiveness. This is a truly purpose-oriented business and we think it has enormous potential ”.

MyMynd plans to use the funds to expand its team to support growth, meet demand and increase its impact on employees across the UK.

Ends

About MyMynd: MyMynd is a digital mental health platform that works to improve mental health and well-being in the workplace. It empowers employees to take control of their mental health and helps employers target wellbeing efforts based on organizational needs. MyMynd proactively identifies problems for early intervention and directs targeted support exactly where needed to strengthen resilience / well-being. Find out more about https://mymynd.co.uk/

Information on triple point initiatives: Triple Point Ventures is the venture capital arm of Triple Point, a purpose-oriented investment manager with £ 2.5 billion AUM, which creates investment opportunities to help address the company’s biggest challenges. Find out more about www.triplepoint.vc

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MyMynd Secures £ 650,000 Pre-Seed Investment From Investors Including Triple Point Ventures – UK Technology Investment News

Source link MyMynd Secures £ 650,000 Pre-Seed Investment From Investors Including Triple Point Ventures – UK Technology Investment News

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