Mental health app maker Intellect based in Singapore just raised $2.2 million in a pre-Series A funding round to bring mental health care to the masses.
Led by Insignia Venture Partners and others, the round brings the total funding to $3 million since Intellect launched a year ago.
The company has a consumer app that offers self-guided CBD programs and Telehealth services.
Intellect now boasts some 2.5 million app users and has 20 enterprise clients that it partners with.
Companies have adopted the app for their employees where it has seen engagement rates of around 20% to 45%.
With the emotional impact that COVID-19 lockdowns caused, the stigma surrounding mental health is beginning to decline.
Intellect protects user privacy using zero knowledge encryption so not even staff have access to user records.
Alongside plans to expansion, the app partners with research institutions globally to help show improvements in mental health.