It seems like money has been pouring into startups which are promoting mental wellness in the workplace. Berlin and Munich-based competitor nilo.health announced an $8 million funding round this week. And now, Paris-based mental health startup Moka.care has raised €15 million in funding to support mental wellbeing in the workplace.
The Series A round was led by US-based VC Left Lane Capital with participation from existing investor Singular. VC firm Origins (co-founded by sporting legend Blaise Matuidi, Ilan Abehassera and Salomon Aiach) and French footballer Antoine Griezmann and captain of the French rugby team Antoine Dupont also supported the funding. The extra cash will be used by the company to boost its product and expand to new European markets.
The company had earlier raised €2.5 million to scale its platform last year.
Working with the likes of Spendesk, Qonto and L’Oréal, the startup aims to connect employees to psychologists, coaches and therapists who can help them with issues like work-life balance, burnout and stress management.
Pierre-Etienne Bidon, co-founder and co-CEO of moka.care said: “Our ambition is to reinvent the way we approach the challenges of mental health in the workplace. We are moving from a stigmatised and costly subject for companies to an element that is positively and naturally integrated into the heart of HR policies.”
Jason Fiedler, managing partner at LEFT LANE Capital added: “The trend of enterprise-supported mental health care, which has exploded in the U.S. over the past five years, has arrived in Europe in a massive way. Moka.care has emerged as the pioneering and indisputable market leader in France, and we are delighted to support them in this unique acceleration phase in Europe.”