Despite 200 million workdays lost each year due to mental health issues, mental health remains a taboo subject. Nearly 60% of employees have never spoken to anyone at work about their mental health condition. With the numbers becoming more alarming by the day, employers are increasingly recognizing the need to provide better mental health support to retain talent and mitigate the impact of mental health-related absences.
To help them do just that, Berlin and Munich-based workplace mental wellness platform, nilo.health, has raised $8 million in funding to fuel the next phase of its expansion across the Europe. The round was led by Speedinvest, with participation from PROfounders Capital, Vorwerk Ventures and pre-seed investor Atlantic Labs and angel investors like Thomas Buberl, Hanno Renner, Jonas Rieke, Oliver Manojlovic and Michael Wax.
Going forward, the platform will expand its global provider network from 22 languages to over 40 languages.
Founded in 2019 by Ines Räth, Catalina Turlea and Jonas Keil, the German startup makes high-quality mental health support easily accessible to everyone to enable employers to effectively deliver mental health services as a workplace benefit. business.
Support ranges from individual sessions with psychologists to group sessions to self-guided digital tools. Currently, it serves more than 120 customers worldwide, including TIER Mobility, Westwing, Scholz & Friends, and Altium.
Jonas Keil, co-founder of nilo.health, said: “We all face physical health issues at some point in our lives in the form of illness or injury. The same is true for our mental health. Yet it is not acceptable for people to talk about it. The current system makes proactive prevention difficult and obtaining treatment extremely difficult. Our goal is to remove the stigma and give people exactly the support they need to work through their challenges.
“In the years to come, in addition to offering physical health benefits like Gympass or Urban Sports Club, mental health services will absolutely become the norm for every business,” added Ines Räth, co-founder of nilo. health.
“Companies must respond to the ever-increasing absences and costs related to mental health. Through its holistic and proactive approach to mental health, the startup helps companies build a stronger and more resilient workforce,” said Mathias Ockenfels, Partner at Speedinvest.