Mindset Health Raises $12M to Expand Digital Hypnotherapy Apps & Scale Distribution
Mindset Health, the digital hypnotherapy company, today announced it has raised US$12 (A$17.8) million in an oversubscribed Series A financing led by King River Capital, the leading US, Australian VC investor, with investments from Tatterang’s Tenmile, Yard Ventures, Matt Mullenweg (founder of Automattic, WordPress), John Kim (founder of SendBird), Alex and Anthony Zaccaria/Nick Humphreys (Linktree founders), Sandy Kory, Banana Capital and others.
Mindset Health helps people with chronic conditions learn to manage their health via app-based audio, combining the expertise of world-class health specialists and clinical research with a proprietary scalable technology platform to deliver evidence-based, consumer-friendly digital hypnotherapy. The apps help people manage a range of health conditions anytime, anywhere. Mindset Health’s top three markets by users are the US (38%), Australia (19%), and United Kingdom (15%).
Financing from this latest round will support the continued growth and development of Mindset Health digital hypnotherapy apps, including broadening channels-to-market to support increasing global demand; and launching new apps in response to market demand for conditions including anxiety and depression, sleep and chronic pain. Importantly, the funding will allow Mindset Health to continue its clinical and real-world research programs, partnering with institutions like Baylor University and Monash University in Australia, to further progress health and economic outcome evidence generation, as well as enhancing existing hypnotherapy programs with additional features and personalisation.
Mindset Health currently has three hypnotherapy apps, addressing medically-diagnosed irritable bowel syndrome, menopause and smoking cessation.
Commenting on the Series A financing, Co-Founder Alex Naoumidis said: “The global demand for our hypnotherapy programs – driven by healthcare practitioners, who recognise their effectiveness in supporting patients and recommend their use – has proven our thesis and demonstrated the deep market appetite for easy to use solutions that can help people manage and live well with underserved health conditions. This latest financing will support us to continue to meet that demand and in new areas with a broader product offering, as well as funding additional research programs instrumental to producing high-quality digital programs backed by clinical rigour.
“Our brains can influence our immune system, our heart health, our habits and our pain perception – our mission is to help unlock this potential of the mind to change how we think, feel and act.”
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