The Mental Health Platform used by NHS England & NHS Improvement actively identifies those at risk of ill mental health, and provides targeted support exactly where it is needed to strengthen resilience
London, 12th May: MyMynd, a mental health platform for employees, has received £ 650,000 in pre-financing from investors including Triple Point Ventures and several angel investors, including Andrew Nadine, lead customer and director of digital products at Southeastern Grocer; Maurice Abbudi, serial hospitality entrepreneur and investor in BBC 2’s “My Million Pound Menu” program; and Will Jones, founder of Wordery online bookstore.
MyMynd provides employees with a digital platform through which they can access mental health assessments based on clinically validated tools. These assessments allow employees to gain a detailed understanding of mental health and well-being risks, and direct users to resources related to their needs to improve their ability to cope. The platform’s own algorithm can detect those experiencing difficulties, and the MyMynd-prepared response team provides further guidance and support.
Senior officials from the NHS Confederation and the Royal College of Psychiatrists recently announced that millions are facing a “second pandemic” of mental health problems caused by trauma, prolonged isolation and financial pressure. The Mental Health Foundation, a mental health charity, has estimated that mental illness is currently costing the UK economy up to £ 100 billion through lost productivity.
MyMynd is already used by the Health Service, whose staff has suffered 8 million days of mental health illness over the past five years. report a sense of “atrocity” from extreme strain. The Mental Health Platform now has partnerships with a number of NHS trusts as well as with the NHS departments of England and NHS Improvements.
The company was co-founded by CEO Henry Majd, who is a visiting staff member at the Skoll Center for Social Entrepreneurship, Said Business School (Oxford University) and an advisor to the World Health Organization (WHO); and Chief Product Officer Leon Rodin, who has leadership experience in public sector, charity and EdTech.
The company also has an all-star advisory board, including Tim Golding, a former chief operating officer of Tesco; Abishek Varadoradjan, Meta Product Manager; Sol Batmid de Shastainer, former Director-General of the United Nations World Food Program; Nicola McConville, partner at Taylor Vinters Law Firm; and Benjamin Chilcott, former CEO of Iris Worldwide Global Council.
Majed said: “Isolation and uncertainty have exacerbated the silent mental health crisis in the workforce in all sectors. Unfortunately, millions are more vulnerable, less able to cope and at greater risk of burnout.
“This is a difficult situation for employers. How to support people without knowing who is suffering? How do we stay ahead of mental health and well-being and intervene before people reach a crisis or targeted resources and support? MyMynd is changing this: it is active, personalized and working. What sets us apart is the scale of interaction and impact we already have, and our customers tell us that up to 70% of their employees use our service compared to 1% – 5% for other services. ”
Chris Lasselles, investor at Triple Point Ventures, said: “The mental health crisis here in the UK is becoming an increasingly serious problem. Unfortunately, to date, companies have not been able to solve the problem with great success. That’s why MyMynd is so exciting: the number of their participations is fantastic for this kind of tool, which testifies to its effectiveness. It’s a really focused business – and we think it has a lot of potential. “
MyMynd plans to use the funds to expand its team to support growth, meet demand and scale its impact on employees across the UK.
About MyMynd: MyMynd is a digital mental health platform that works to improve mental health and well-being in the workplace. This allows employees to take control of their mental health and helps employers focus well-being efforts on the needs of the organization. MyMynd actively identifies issues for early intervention and directs targeted support exactly where it is needed to strengthen resilience / well-being. Find out more at https://mymynd.co.uk/
About Triple Point Ventures: Triple Point Ventures is a venture division of Triple Point, a dedicated investment manager with £ 2.5 billion AUM, which creates investment opportunities to address society’s biggest challenges. Find out more at www.triplepoint.vc