PsycApps raises £1.5m for ‘gamified’ mental health platform
Digital healthtech startup PsycApps has raised £1.5m in a seed funding round to further develop its mental health platform and expand its headcount.
Founded in 2016, PsycApps has developed a mental health platform that uses video games to teach users about psychology, with the goal of boosting their mental resilience.
Its flagship product is eQuoo, a dialogue-focused fantasy game that teaches players real-life skills to deal with anxiety, depression, relationships, and personal growth.
The new funding will go towards growing the existing team, as well as accelerating the development of its digital mental health products.
“After working in an NHS priory, I realised that my clients were reaching me way too late – often after six months on a waitlist and years after experiencing the first symptoms,” said PsycApps co-founder and CEO, Silja Litvin.
“I wanted to find a way to give them the skill set they needed before they needed it. If a student drops out of their course due to mental health issues, it will change their lives in a way that hurts them and society.
“With eQuoo we give young adults a tool that helps them grow mentally, stay mentally healthy and get help if they’re experiencing issues.”
The seed funding round was led by US-based investor Morningside Ventures.
“Digital health interventions will be critical in how our society addresses the second, ongoing pandemic of mental health issues,” said Stephen Bruso, digital health and biotech partner at Morningside Ventures.
“However, designing these interventions to maximize long-term engagement and outcomes will be critical to making a difference.”
PsycApps’ game is targeted toward schools, which were recently informed by Ofsted that they would be judged on their personal resilience and mental wellbeing development systems, as well as their academic merits.
Amid long NHS waiting times, patients are increasingly turning to digital mental health solutions both in their personal lives and at the workplace.
In March, personalised workplace mental health startup Oliva raised £4.84m in a seed funding round.