Temasek’s Sheares Healthcare supports Asian-focused mental health startup Thoughtful
Southeast Asia’s psychological well being initiatives are attracting extra buyers. Final week, Mind introduced a strategic funding from IHH Healthcare, Asia’s largest personal healthcare group. Now thoughtfulOne other Asian-focused digital psychological well being platform raised $4 million within the pre-Sequence A spherical led by Sheares Healthcare Group. Sheares is a completely owned subsidiary of Temasek.
The spherical, which Thoughtfull says exceeded demand, included returning buyers Vulpes Funding Administration, The Hive Southeast Asia, world household workplaces and founding members of corporations like Seize and Zalora. TechCrunch final coated Thinkfull when it raised its seed spherical in October 2021.
Considerate marks Sheares’ first funding in psychological well being in Asia. Sheares’ different investments embody its newest exit, a US-based senior care firm known as Iora Well being, acquired by One Medical.
The initiative’s platform, known as ThinkfullChat, contains customized self-content and progress monitoring, and entry to psychological well being professionals by way of video calls and text-based teaching.
Considerate claims that its income has elevated 30x in whole since its launch in 2019. Over the previous 12 months, income has elevated 10x 12 months over 12 months regardless of financial downturns. The psychological well being skilled community now contains 57 areas in Asia and has customers in 95 areas worldwide. The app is on the market in 11 languages.
The startup addresses challenges akin to fragmented psychological well being methods and the shortage of protection by insurance coverage insurance policies that make it tough for employers to incorporate psychological well being packages in advantages packages.
Considerate says it is the primary psychological well being initiative within the area to accomplice with insurers like AIA Malaysia to supply enterprise clients with entry to psychological well being assist by way of AIA’s Enterprise Options portfolio in 2022. It has additionally launched an identical partnership with one other insurance coverage firm, FWD, to supply entry to reasonably priced psychological well being companies in Hong Kong and Thailand. One of many causes she works with insurers is to make psychological well being extra reasonably priced for each company employers and people.
“Pondering’s method to scaling seamless, end-to-end psychological well being is in keeping with Sheares’ mission to spend money on corporations that form the way forward for healthcare by way of progressive and affected person strategies,” stated Khoo Ee Ping, Sheares Healthcare’s head of company growth, in a press release. targeted care. Their consecutive paying partnerships clearly display the demand for his or her choices and show the power of their group.
Along with Mind and Thoughtfull, Southeast Asia’s rising psychological well being startup ecosystem contains MindFi, an enterprise psychological well being and wellness platform backed by Canva, International Founders Capital, and M Enterprise Companions.
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