Provider of mental health and wellbeing services for insurers, employers and employees Spectrum.Life to grow to 200 employees.
Wellbeing platform Spectrum.Life has raised €5m in a new funding round that brings to €9m the total raised by the business so far.
The round was again led by Act Venture Capital and included strong participation from existing and new investors.
“Our goal is to make mental health and wellbeing support accessible to everyone, and this funding will allow us to bring our game-changing solutions to even more individuals and organisations”
Spectrum.Life has set itself apart from other mental health and wellbeing providers through its commitment to the fullness of support across the entire mental health journey.
Holistic end-to-end approach
The vast majority of existing corporate wellbeing offerings do not provide treatment/support for people’s mental health needs until they are in crisis. Spectrum.Life takes a holistic end-to-end approach to support people in advance of, through, and beyond crisis enabling them to not only survive but to successfully thrive.
The business has set itself apart from other mental health and wellbeing providers through its commitment to the fullness of support across the entire mental health journey.
The vast majority of existing corporate wellbeing offerings do not provide treatment/support for people’s mental health needs until they are in crisis. Spectrum.Life takes a holistic end-to-end approach to support people in advance of, through, and beyond crisis enabling them to not only survive but to successfully thrive.
“We are thrilled to have the support of ACT and our other investors as we continue to grow and expand our innovative mental health, wellbeing and digital health offerings,” said Stephen Costello, CEO of Spectrum.Life.
“Our goal is to make mental health and wellbeing support accessible to everyone, and this funding will allow us to bring our game-changing solutions to even more individuals and organisations.”
The €5m funding will be used to further develop and scale the Spectrum.Life platform, including the expansion of its team and the addition of new features and resources. With its 24/7 access to unlimited mental health and wellbeing support, including a personal Mental Health Coach and Open-ended Therapy at the touch of a button, Spectrum.Life is well positioned to continue its rapid growth and make a lasting impact on the mental health and wellbeing of its users.
“We are delighted to lead another round of funding into Spectrum Life,” said Debbie Rennick, general partner Act Venture Capital.
“We have strong conviction in this market opportunity and in the Spectrum Life team and platform. The Company’s strong growth and success to date is only the beginning of a great future. We believe that their platform has the potential to make a significant impact on the mental health and wellbeing of individuals around the world, and we are proud to support their further growth with this investment.”
Main image at top: Mark Risley, chief financial officer; Dr Emelina Ellis, chief clinical operations officer; Stephen Costello, CEO and co-founder; Gary Coffey, chief technical officer and Johnny O’Connell, managing director Ireland at Spectrum.Life
