Intellect, an APAC-focused mental health firm, has raised $10 million in Series A funding
- ByStartupStory | January 25, 2022
Intellect, a Singapore-based mental health firm with a focus on Asia-Pacific markets, said today that it has raised $10 million in a Series A funding round. Intellect’s services, which include self-directed mental wellness programmes in 15 languages and online counselling sessions, are available in two ways: as an employee perk and through the company’s consumer app.
HOF Capital led the round, which Intellect believes is the largest Series A ever raised by a mental health business in Asia. Headline, East Ventures, MS&AD Ventures, DG Daiwa Ventures, Pioneer Fund, and Insignia Ventures Partners were among the new investors.
Intellect claims that its sales increased by more than 20 times year over year in 2021, thanks in part to new enterprise clients such as foodpanda, Shopback, Singtel, Kuehne & Nagel, and Schroders. It also collaborates with insurance companies and benefit brokers like as Mercer.
Intellect differs from existing employee wellness programmes, according to co-founder and CEO Theodoric Chew, since “Intellect’s vision isn’t simply to be a self-care app or an employee benefits platform solely, but a full mental healthcare system for Asia. That drives a differentiated approach in how we build our platform which caters from the smallest of daily struggles through self-guided programs, all the way to clinical therapy for chronic issues.”
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