PsycApps, a digital healthtech startup, raised $1.5 million in a seed funding round. This money will be used to develop their mental health platform and hire more employees.
The PsycApps company was founded in 2016. They created a mental health platform that uses video games to teach users about psychology. Their purpose is to increase users’ mental resilience.
eQuoo is a dialogue-focused fantasy game that helps players learn how to deal with anxiety, depression, relationship issues and personal growth.
The company will use the new money to speed up the development of their digital mental health products in addition to growing their staff.
Silja Litvin, co-founder and CEO of PsycApps, said she noticed her patients were reaching her six months after their names were added to a waitlist. Many of these patients had already been suffering from symptoms for some time before they reached out to Silja.
By allowing students to skip courses they don’t need, mental health issues can be dealt with before they even begin. If a student drops out because of these issues, it results in long-term consequences that negatively impact them and society as a whole.
Young adults are provided with mental growth tools through eQuoo. They can use the tool to stay mentally healthy and seek assistance if they experience any issues.
Morningside Ventures, a US-based company, led the seed funding round.
Morningside Ventures’ Stephen Bruso said that digital health interventions will be essential in addressing the second mental health pandemic. This ongoing pandemic is also known as the “silent disease,” according to Bruso.
Interventions designed with long-term success in mind will be crucial to making a difference.
Schools recently notified by Ofsted are expected to have effective mental health systems. In addition to academic quality, they must also have personal resilience and wellbeing apps. PsycApps created a game specifically for these schools.
In addition to long wait times at the NHS, patients have started to use digital mental health solutions in their personal lives and at work.