London-based workplace mental health platform Unmind closes oversubscribed Series B round at $47 million

London’s workplace mental health platform Unmind has raised $47 million in an oversubscribed Series B round. The funding was led by EQT Ventures and saw participation from Sapphire Ventures, Project A, Felix Capital, True, and Christian Angermayer.

Unmind it reporting that the new funds will be used to propel international growth as well as flesh out platform content and features as well as integrations. In so much, the firm is planning on upping the headcount to 200 individuals across offices in London, New York, and Sydney.

“It is now universally recognized that our Mental Health is as important if not more important than our physical health - but has long been neglected. That is now changing rapidly. As a result, there has been a massive rise in the popularity of consumer mental health apps which is now being matched by surging demand from employers and employees for the same in the workplace,” comments EQT’s Alastair Mitchell.

At the risk of stating the obvious, lockdown after lockdown hasn’t done much for anyone’s mental state of well-being, your humble author included. According to Unmind and REBA research, 78.5% of employers reported an increase in requisitions for mental health support and 90% are concerned that employees are experiencing burnout. To Robin’s credit, he regularly says to me, “Pace yourself, I don’t want to see you burnout.”

Unmind’s scalable platform compliments reactive services including teletherapy through a series of self-guided tools that help measure, understand, and foster mental health. The company counts major employers Uber, British Airways, Marks & Spencer, and Samsung amongst its client base, serving 2 million employees in 110 countries.

“At Unmind, we see the future of mental healthcare rooted in prevention. After all, we all have mental health, all of the time, and just like physical health or dental health, there's a range of ways we can proactively nurture and improve it,” comments CEO and co-founder Dr. Nick Taylor (No relation).