Wysa Series-A

This is the Wysa pitch deck to raise a $5.5m series-a round in 2021.

About

Touchkin seeks to provide low cost proactive behavioral health support to people with chronic illness and depression through context sensitive, multilingual chatbots and patient support systems. Part of Swiss Re’s global insurtech accelerator, the company is developing solutions for a wide variety of use cases in patient support and general wellness.

Boston-based mental health startup Wysa has raised $5.5 million in fresh VC funding.

The company offers 24/7 access to a range of different therapies, including cognitive restructuring treatments like CBT, acceptance and commitment therapy (ACT), as well as mindfulness and coaching exercises. Wysa also allows users to chat anonymously with a chat bot to get things off their chest that they may not feel comfortable disclosing with a human.

“COVID-19 has changed everything when it comes to digital mental health,” Wysa cofounder and CEO Jo Aggarwal told Insider.

“Companies used to say we like the idea but it’s not a priority but once the pandemic started we’ve had business after business join.”

Mental health startup funding has hit record totals in 2021. The round was led by W Health Ventures, a Boston-based digital health investor with participation from the Google Assistant Investment program plus existing investors pi Ventures and Kae Capital.

Wysa is available directly to consumers via the App Store & Google Play store, and is also available to employers to provide as an HR benefit. The platform customizes its support to employee needs, fits around existing resources, and gives employees complete anonymity as they work through their issues, Aggarwal added.

“We want to be able to provide the most comprehensive solution,” she said.

“In March we just had an app, now we have a web page with a full dashboard which means employers can see the data behind the process. Another strategy of ours is using voice which is aided by Google Assistant’s funding.”

Other funds will go towards scaling the product and team which will be based remotely throughout the United States. Wysa claims to have facilitated over 100 million conversations with more than 3 million users.

“The main positive now is that the genie is out of the bottle and can’t be put back in, this isn’t a temporary shift,” Aggarwal said.

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