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ThoughtFull raises US$1.1 million in seed funding round
Mental health platform to use latest investment to accelerate expansion in Southeast Asia
The Asset 13 Oct 2021

Healthtech startup ThoughtFull has raised US$1.1 million in a seed funding round, which is aimed at accelerating market expansion and further developing its digital mental healthcare offerings.

Strategic investors participating in this round include: The Hive SEA, the first Southeast Asian fund by Silicon Valley-based The Hive; Flybridge Capital Partners, a Boston-based venture capital helmed by Harvard professors and prominent tech operators in the United States;  Singapore-based Vulpes Investment Management; and several family offices and angel investors across Asia-Pacific.

ThoughtFull’s mobile apps ThoughtFullChat and ThoughtFullChat Pro enable users to access, and mental healthcare professionals to provide, personalized best-fit mental healthcare. With a focus on better stress, anxiety, and depression management, the firm partners with employers, insurers, and pharmaceuticals to provide preventive and curative solutions – from self-serve tools and one-on-one bite-sized coaching to insights-driven therapy.

Commenting on the funding round, ThoughtFull founder and chief executive officer Joan Low says: “Even before the pandemic, ThoughtFull has always set out to change the conversation around mental health from awareness to action. However, the infrastructure is still nascent and there is much to do to smoothen out the process for people to proactively engage with their mental wellbeing. We are thus thrilled to receive such overwhelming support to build a future where access to end-to-end mental healthcare is not only affordable, but seamless.”

Prof. Jeff Bussgang, senior lecturer at Harvard Business School and general partner at Flybridge, adds: “Mental healthcare is one of the most important yet complex therapeutic areas in the world, requiring global insights but localized delivery. As a VC sitting in the heart of digital healthcare innovation in Boston, we are very excited to invest in ThoughtFull. The company draws from the best in research, data, and healthcare in the US with an ability to localize and provide personalized mental healthcare in Asia. ThoughtFull brings us another step closer to providing equal, seamless access for all.”

Since its inception in 2019, ThoughtFull has grown to serve users across 43 countries with a professional network spanning 14 locations. The company has partnered with corporates, insurers and academic institutions to not only bring the service to a wider audience, but to drive its product validation through clinical research.

ThoughtFull says the latest investment will be used to fund its growth plans as well as bolster clinical research and product development.  The platform is currently available in Singapore, Malaysia, and the Philippines, with plans to expand further into Southeast Asia.

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