AI powered Mental Healthcare platform, Wysa secures $20 Million in funding

Wysa, a Boston-based provider of an Artificial Intelligence digital platform for mental health, has now secured $20 million in a funding round.

Wysa offers AI-driven mental health support, available to both individuals via employer benefits programs and healthcare services.

It supports individuals with the help of an emotionally intelligent conversational agent, which guides users via evidence-based cognitive behavioral techniques, breathing, meditation and mindfulness exercises, as well as micro-actions to help build mental resilience skills.

Its client base includes Swiss Re, Accenture, Colgate-Palmolive, the National Health Service (NHS) in the UK, and the Ministry of Health in Singapore.

Srini Nagarajan, Managing Director and Head of Asia at British International Investment, said, "Good mental health is a crucial pillar for sound physical health which in turn promotes social and economic development. Through our investment in Wysa, BII is taking a holistic approach to supporting long-term productive economic prosperity by backing an innovative tech-enabled company that is increasing access to mental health services for low-income and rural individuals. We are excited to continue working with Wysa’s team to grow their offering and help improve health outcomes and quality of life for people."

Ramakant Vempati, Co-founder of Wysa, said, "Wysa has not only been extremely successful as a consumer well-being platform but has also developed into a clinically validated, powerful tool to proactively manage mental health and well-being. Wysa meets people where they are, whether that means a little help with occasional workplace stress, right up to coping with debilitating pain, depression and anxiety. With this funding, we look forward to scaling-up further and helping millions of more people."

The round was backed by HealthQuad, with participation from W Health Ventures, Kae Capital, pi Ventures, British International Investment, and Google Assistant Investments.

The company, as of now, has plans to use the new funds to further expand into the US, UK, India and some other global markets across the enterprises, as well as improve wider usability via multi-lingual support and easier access with the help of Whatsapp.