After receiving the extra US $10 million, Singapore-based mental health firm Intellect increased the size of its series A investment round to a total of US $20 million.
Tiger Global served as the project’s lead partner, with support from previous backers, Insignia Ventures Partners and HOF Capital and new investors K3 Ventures and Singtel Innov8. The increased funding also made the series A round the largest ever raised by an Asian mental health company.
According to Intellect, which was established in 2020, it serves more than 3 million users in more than 60 nations. It offers services in 15 different languages and has therapists and coaches in 20 different nations.
Merck, Philips, Foodpanda, Singtel, and Shopee are just a few of the startup’s clients.
With the money, Intellect plans to grow throughout Asia, concentrating on developing the first full-stack, digitally enabled mental healthcare system in the area.
“Intellect’s mission is to normalize mental health and shift the culture towards more open conversations about personal wellbeing, ultimately removing the stigma attached,” said Intellect co-founder and CEO Theodoric Chew in a statement.
