ifeel secures 20 million dollars in new financing round

With a new investment, ifeel wants to expand its digital solutions for well-being in the workplace. The company relies on artificial intelligence and professional support to promote the mental health of employees worldwide.

Madrid, May 30, 2024 - ifeel has raised 20 million dollars in a Series B financing round. The round was co-led by FinTLV Ventures and Korelya Capital. Existing investors such as SCOR Ventures, Nauta and UNIQA Ventures also participated again.

Since its foundation in 2017, ifeel has set itself the goal of maximizing access to mental health for individuals, large companies and insurance companies. In doing so, ifeel relies on modern technology and artificial intelligence (AI) to support diagnostic, self-care and therapeutic processes.

Since the last financing round in 2022, ifeel has grown strongly. The company was once again able to convince investors of its concept, which is based on the combination of technology and professional psychological support. The new funds will help continue ifeel's work towards a more human future.

Support for important causes

ifeel's innovative product range has won the trust of many major partners. The company has become a preferred provider of digital mental health solutions for numerous large corporations and insurance companies in various countries.

Over the past seven years, ifeel has introduced its global mental health solution to companies such as Glovo, Insud Pharma, SCOR SE, Cabify, Travelperk, H&M, Wellhub and Thoughtworks. Ifeel works both preventively and with psychological intervention when needed.

Gil Arazi, Founder and Managing Partner of FinTLV Ventures, praised ifeel for its commitment to revolutionize mental health care in the corporate and insurance sectors. He emphasized that this investment is important and necessary given the growing mental health challenges faced by employees and policyholders. ifeel's advanced technology and outstanding team provide innovative solutions and enable significant cost savings and improved mental health outcomes.

Franco Danesi, Partner at Korelya Capital, was impressed by ifeel's mission to tackle one of the biggest societal challenges of our time. He highlighted that the combination of mental health content, access to healthcare professionals and an AI-powered triage engine ensured that patients received the right products for their needs, while insurers and companies could effectively manage the rising costs of mental health.

Expansion and innovation

With the total of $40 million ifeel has raised since its inception, the company now plans to expand its commercial activities in existing and new markets and deepen its product and innovation capabilities in the mental health space.

Currently, more than 600 psychologists in 30 countries provide therapy in 26 languages. ifeel has worked with over one million people worldwide and has experienced 200 percent growth in the past year.

Amir Kaplan, CEO of ifeel, emphasized the need for structural change in the mental health industry. He explained that ifeel's solution can achieve optimal results in mental health at scale.

Technology for wellbeing

ifeel uses artificial intelligence to promote people's mental wellbeing. By using advanced data analytics, clinical research and cutting-edge AI models, ifeel helps employers and insurers manage the mental health of employees and policyholders.

With a modular approach to managing mental health risks, ifeel can optimize resources, improve people's mental health and save companies millions in disability, productivity and claims costs.

All of ifeel's AI solutions are based on real human interactions and years of collected data. The focus is on clinical robustness and the highest ethical and data protection standards.

The new investments will enable ifeel to continue to help companies improve the mental health of their employees and thus pursue a smart business strategy.