GERMAN STARTUP nilo.health SCORES €7.49 MILLION TO BRIDGE BARRIERS OF MENTAL WELLBEING IN THE WORKPLACE
As companies seek to scale up their output, the need to recognize mental health and well-being in the workplace is being given the attention it deserves. It comes as a good number of companies are beginning to take employee wellbeing seriously and embed processes to look after staff, creative supportive work environments, and promote mental wellbeing. As a result, startup nilo.health has taken the step to offer a mental wellbeing support platform for entire workforces.
It’s also worth noting that mental health is still perceived as a taboo topic, resulting in barriers, and so, many employees find different barriers when it comes to opening up about their mental health at the workplace. To help break these barriers, the Berlin and Munich-based nilo.health has reportedly taken the bull by the horn and has also raised €7.49 million to fund its mission to improve workplace mental health. The product solution provides therapists and digital content in a single unit.
The latest seed round was led by Speedinvest, which also witnessed the participation of Vorwerk Ventures, PROfounders Capital, and pre-seed investor Atlantic Labs coupled with angel investors like ‘Hanno Renner’, ‘Thomas Buberl’, ‘Jonas Rieke’, ‘Michael Wax’, and ‘Oliver Manojlovic’.
Nilo.health was founded in 2019 by ‘Ines Räth’, ‘Jonas Keil’, and ‘Catalina Turlea’, the subject startup is one that makes high-quality mental health support easily accessible for everyone in order to allow employers to effectively offer mental health services as part of company benefit. Startup nilo.health is a platform that allows for 1-on-1 counseling sessions that entail evidence-based digital training with tools to proactively improve employees’ mental wellbeing. The startup team is currently serving more than 120 clients globally, including the likes of Westwing, TIER Mobility, Scholz & Friends, and Altium.
Responding to this development, the co-founder of nilo.health ‘Jonas Keil’ said: “We all face physical health issues at some point in our lives in the form of illness or injuries. The same is true for our mental health. Yet it’s not acceptable for people to talk about it. The current system makes proactive prevention difficult and getting treatment extremely challenging. We aim to remove the stigma and give people exactly the support they need to work on their challenges”.
‘Mathias Ockenfels’, partner at Speedinvest, added: “Companies need to react to constantly rising mental health related absences and costs. With its holistic and proactive approach to mental health, the startup helps companies build stronger, more resilient workforces”.
A source familiar with the matter has confirmed that the latest fund will be used to expand the platform’s offering, and that will mean going from 22 markets to over 40.
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