Madrid-based emotional well-being platform ifeel has raised $20 million (approximately €18 million) in a Series B funding round. Led by FinTLV Ventures and Korelya Capital, the round also saw participation from existing investors SCOR Ventures, Nauta, and UNIQA Ventures. This brings ifeel’s total funding to $40 million (approximately €36.9 million).
The new funding will be used to expand ifeel’s commercial reach across existing and new markets and to enhance its product and innovation capabilities in mental health. CEO Amir Kaplan emphasized the need for structural changes in the mental health industry, highlighting ifeel’s commitment to providing comprehensive mental health solutions for businesses and their employees.
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Advanced Data Analytics and AI Integration
Founded in 2017, ifeel combines advanced data analytics, clinical research, and AI models to offer tools for managing mental health. The platform’s proprietary risk approach allocates resources to improve mental health outcomes and reduce costs related to disability, productivity loss, and claims. The AI products are developed based on real human interactions and data, ensuring clinical soundness while maintaining ethical standards and data confidentiality.
Global Reach and Clientele
The services are available in over 26 languages across more than 30 countries. The platform is used by major insurance companies and large enterprises, including Glovo, Insud Pharma, SCOR SE, Cabify, Travelperk, H&M, Wellhub, and Thoughtworks.
Investor Perspectives
FinTLV Ventures, a global VC fund focused on Insurtech and Fintech, emphasized the importance of ifeel’s mission in addressing mental health challenges faced by employees and insured populations. Korelya Capital, which aims to support European tech startups in accessing Asian markets, also expressed strong support for the company’s innovative approach to mental health care.
With this substantial funding, the startup is poised to enhance its mental health support services, driving significant improvements in corporate wellness and employee well-being across the globe.
