There is a growing mental health crisis across the workplace in the UK, which over the past few years, has been amplified by added pressures such as the Covid-19 pandemic, climate change and the cost of living. Many people are suffering in silence, often leading to burnout, and this is having a direct impact on businesses.
MyMynd is on a mission to tackle these challenges. The ambitious start-up recently raised £500,000 in pre-seed funding – £140,000 of which was secured through University of Surrey’s dedicated network of investors known as the S100 Club – to expand its unique workplace mental health and wellbeing platform.
Founded in 2020 by Henry Majed and Leon Rodin, MyMynd sets itself apart from the other mental health and wellbeing tools on the market. The digital platform offers a consistent approach, identifying issues early and creating a clear pathway for targeted support. Proactive, personalised and data-driven, it helps employees take control of their mental health and helps employers to align their wellbeing efforts around the needs of the organisation. As a result, MyMynd is seeing 60%+ engagement – an impressive increase from the 1% to 2% engagement typically received by digital mental health apps.
Majed explains that, before MyMynd, there wasn’t a consistent way to identify people who are struggling with their mental health and give them access to the support they really need. “We created the platform because we think we can come out of this situation stronger than we went in by protecting and enhancing our workforce, enabling employees to adapt and face these challenges so they can thrive. We believe that prevention is better than the cure. Early intervention stops many people from deteriorating and reaching crisis point.”
The process begins with a short assessment – or MOT for the mind, as Majed calls it – which provides a detailed understanding of an individual’s mental health risks, protective factors and resilience. Any priority concerns get flagged to a team of clinical psychologists and responders, who follow up immediately, offering one-to-one human intervention to help the person understand their situation and why it is important. They then guide them to the appropriate interactive tools and resources within the MyMynd Wellness Centre. Taking aggregate data from across the organisation, regular insights are available to help employers align wellbeing efforts to the needs of their organisation.
In the three years since launching, MyMynd has gained the support of various large-scale clients, including NHS England and Oxford University. The start-up boasts 100% retention with all existing clients, many of which are expanding, and has a strong forward pipeline of global brands. Now, it is looking to scale up to meet demand. Following a successful pitch on March 1st at the S100 Club – an angel investment network showcasing the best innovative high-growth propositions in the UK – MyMynd piqued the interest of three investors, who between them, invested £140,000 in the business.
Currently standing at £3.2bn, the UK employee digital wellbeing market continues to grow, presenting MyMynd with £130m of market share. The investment will help facilitate the firm’s highly scalable growth. MyMynd will be investing in technology and customer success to accelerate sales and ensure that it is delivering a strong experience for both existing and future clients. Within 12 months, the goal is to reach 50,000 users, across a range of sectors, and in three to four years, 1.5 million users.
“The investment from S100 Club has really set us up to succeed,” says Majed. “Overall, it has been a fantastic experience. We couldn’t have felt more supported throughout the process, and what we have learned has helped us with all of our wider investment discussions. We continue to be engaged and become strong advocates for S100 and are excited to share this journey with investors and the broader community.”