ThoughtFull Founder and CEO Joan Low (L) with Sheares Healthcare Chief Corporate Development Officer Khoo Ee Ping
Singapore-based digital mental health company ThoughtFull has raised US$4 million in an oversubscribed pre-Series A funding round.
Temasek’s wholly-owned healthcare entity Sheares Healthcare Group led the round. Returning investors Vulpes Investment Management and The Hive Southeast Asia, founding members of Grab and Zalora, and global private family offices also joined.
The startup will use the funds to scale its business across Asia further and deepen its product offering across the end-to-end spectrum. The company plans to conduct clinical research to provide more Asia-focused insights for personalised mental healthcare.
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ThoughtFull’s digital platform, ThoughtFullChat, aims to address the challenges faced by traditional mental health systems. It offers self-care resources, such as personalised content, progress-tracking tools, and professional support through video calls and text-based mental health coaching.
Each wellness tool on ThoughtFullChat is curated and verified by mental health professionals or global experts in these fields.
In 2022, ThoughtFull partnered with insurers such as AIA Malaysia to provide their corporate customers with end-to-end mental health support. It also runs similar propositions with FWD to scale affordable mental healthcare across Hong Kong and Thailand.
ThoughtFull claims its revenue has grown 30x since the launch. The platform’s mental health professional network has grown to 57 locations across Asia, and its user base now covers 95 locations worldwide.
Joan Low, Founder and CEO of ThoughtFull said: “Building on the work we do with healthcare professionals, employers, and insurers, we are yet another step closer to realising our vision to empower everyone to make mental health a priority every day by bringing seamless end-to-end care to all.”
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