hey, disruptive mental health care app, raises pre-seed funds
Founded in 2021, heyy, operates in the preventive “emotional first aid” space, long before issues become clinical or serious. heyy, has built a network on the ground of trained ‘Helpers’ – first responders in a conversation, who engage with help-seekers as many times as needed, before recommending expert advice.
“hey, the vision of is to keep mental health care deeply human and personal while making it accessible to millions of people. It is well known that therapy is highly stigmatized, and although digital therapies have attempted to bridge vacuum, it came at the expense of a human connection. Our assistants create an anonymous, confidential and safe space for users to open up and talk about their deeply personal issues. This has already helped thousands of people to contact and ask for help,” said the founder of heyy, Ankit Malhotra.
heyy, delivered strong growth based on strong traction in its enterprise and consumer verticals. It has a renewal rate of 100% and 40% respectively in the Enterprise and Consumer segments. Importantly, between 10% and 14% of employees start using heyy, within the first month of its introduction to the workplace, compared to 1% to 2% adoption observed for wellbeing programs. -be traditional offered by companies.
“Having spent the early part of his career working at the top tech companies in Asia, Ankit has gained extensive operational experience as well as insight into the high performance business world. This gave the founder unique insight into the corporate mental health space, having witnessed and experienced the lack of proper care firsthand. About 14% of india population suffers from mental disorders, and 80% of those affected do not receive treatment for more than a year – a hehe problem, seeks to solve. hey, stood out as a preventative care solution that retains the empathetic and human aspect while remaining accessible and scalable, resulting in the company’s record adoption and repeat rates,” said Gavin Leegeneral partner at Wavemaker Partners.
heyy, also offers easy access to online therapy through its app, with qualified therapists in multiple languages, such as English, Hindi, Bengali, etc. developed through intensive research to help individuals better understand their needs and build their confidence and resilience, both on and off the job.
Angel investors include Monks Hills Ventures; Sairee Chahal, founder of Sheroes; Deep Bajaj, founder of Sirona; and Anjan Bhojarajan of HealthifyMe, among others.
“hey, solves an urgent problem of mental health issues in the workplace and provides unconditional and safe support to teams and organizations while keeping the space personal and empathetic. hey, the vision of is very relevant in today’s world today and helps people lead happier, healthier lives,” said Sairee Chahal.
“Ankit’s dedication to the cause of mental and emotional well-being is unparalleled. The clarity on where he wants the brand to go and solving consumer issues is inspiring,” said Deep Bajaj.
“Given that mental health is a vital aspect of overall well-being, heyy, set out to solve an important need. What Ankit envisioned for the future also has great potential to expand to the world. scale and I am thrilled to witness the impact that heyy, is going to bring over the next few years,” said Anjan Bhojarajan.
One in 10 people worldwide live with a mental health condition, and estimates suggest poor mental health is costing the global economy dearly US$2.5 trillion per year. In Indiafree or low-cost access provided by mental healthcare apps is expected to further expand the market from its current size of around 4 billion US dollars.
hey, was founded by Ankit Malhotra in 2021, with a mission to make mental health care truly accessible. His vision is encapsulated in the logo, which depicts the word “heyy”, – one of the most common conversation starters. Drawing on his deep personal experience, Ankit seeks to encourage people to seek help when they need it. heyy, is now a team that spans 5 time zones and multiple nationalities, committed to making accessible and personal mental health care a reality.
For more information visit: https://heyy.life/
About Wavemaker Partners:
Wavemaker Partners is South East Asia a go-to venture capital firm that invests in start-ups, cutting-edge technologies and sustainable startups. Since 2012, it has supported more than 170 companies, of which more than 140 (85%) are high-tech or high-tech. The company has more $300 million in AUM in four funds in the region, and saw more than 10 releases valued at nearly 700 million US dollars. Today, 75% of active startups in Wavemaker’s portfolio in South East Asia are aligned with at least one UNDP Sustainable Development Goal.
For more information visit: https://wavemaker.vc/sea/
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