Psychological medical health insurance platform ifeel raises a $20 million Sequence B

Psychological well being points like stress, despair and nervousness can result in work-related sicknesses, absences and long-term sick depart. However many corporations assume providing a fitness center membership is sufficient. Ifeel — a European startup that determined psychological well being needs to be tackled in another way and which raised $6.6 million in 2021 — has now raised a $20 million Sequence B funding co-led by FinTLV Ventures and Korelya Capital. In complete, ifeel has raised $40 million since its inception.

Initially based again in 2017 as a consumer-focused remedy platform, ifeel pivoted to permit companies to supply employees help throughout the pandemic and segued into being provided as a part of an employer’s or insurance coverage supplier’s healthcare cowl. It competes with corporations like Trendy Well being. 

“Whenever you enter into our platform, the primary half is a digital evaluation that may be a co-pilot of an AI system that we constructed,” CEO Amir Kaplan advised me. “So we really can consider the danger of the individual after they come into the platform and predict what’s the finest stage of care.”

“After this evaluation, we’ll give a suggestion of the very best therapy that begins from gentle as much as high-risk instances and our aim is to determine the excessive threat instances to forestall them from having a dramatic impression on the individual after which on the corporate. However we additionally stop instances which can be beginning and firms are in a position to assist them in a scalable approach.”

Poor psychological well being is a gigantic enterprise and societal difficulty, costing England alongside £300 billion a 12 months, in accordance with analysis by the U.Okay.-based Centre for Psychological Well being assume tank.

Gil Arazi, founder and managing associate of FinTLV Ventures, mentioned in an announcement: “This funding … helps our thesis that the insurance coverage trade ought to prioritize prevention and preventative options.”