Despite 200 million workdays being lost due to mental health conditions each year, mental health remains a taboo subject. Almost 60% of employees have never spoken to anyone at work about their mental health status. With the numbers becoming more alarming by the day, employers are now increasingly recognising the need to provide better mental health support to retain talent and mitigate the impact of mental health-related absences.
Helping them in doing so, Berlin and Munich-based mental wellbeing platform for the workplace, nilo.health has raised $8 million in funding to fuel the next phase of its expansion across Europe. The seed round was led by Speedinvest, with participation from PROfounders Capital, Vorwerk Ventures and pre-seed investor Atlantic Labs and angel investors like Thomas Buberl, Hanno Renner, Jonas Rieke, Oliver Manojlovic and Michael Wax.
Going forward, the platform will expand its global provider network from 22 languages to over 40 languages.
Founded in 2019 by Ines Räth, Catalina Turlea and Jonas Keil, the German startup makes high quality mental health support easily accessible for everyone to enable employers to effectively offer mental health services as a company benefit.
The support ranges from one-on-one sessions with psychologists to group sessions to digital, self-guided tools. Currently, it serves over 120 clients globally, including the likes of TIER Mobility, Westwing, Scholz & Friends and Altium.
Jonas Keil, co-founder of nilo.health said: “We all face physical health issues at some point in our lives in the form of illness or injuries. The same is true for our mental health. Yet it’s not acceptable for people to talk about it. The current system makes proactive prevention difficult and getting treatment extremely challenging. We aim to remove the stigma and give people exactly the support they need to work on their challenges.
“In the coming years, in addition to offering benefits for physical health like Gympass or Urban Sports Club, mental health services will become absolutely standard for every company,” added Ines Räth, co-founder of nilo.health.
“Companies need to react to constantly rising mental health related absences and costs. With its holistic and proactive approach to mental health, the startup helps companies build stronger, more resilient workforces,” said Mathias Ockenfels, partner at Speedinvest.