Spain-based ifeel bags €10M to help companies manage mental well being of employees

Madrid-based ifeel, an emotional well-being platform for companies, announced on Tuesday that it has secured €10M in a Series A round of funding led by UNIQA Ventures.

Nauta Capital and other investors also participated in the round.

ifeel says it will use the funds to expand the business into new markets, introduce new products, and increase sales capabilities. To date, the Spanish company has raised €18M in funding. 

ifeel: What you need to know

Founded in 2017, ifeel is an emotional well-being service for companies and employees.

“Health requires a balance between what goes on at work and outside of it. For us, there is no strict division between professional and personal life; everything is personal. We firmly believe that work should not be a reason to interrupt taking care of our well-being. On the contrary: it should be a space where we are well and can thrive at different levels. From this point on, our goal is to help companies integrate this mindset into their corporate culture,” says ifeel’s CEO Amir Kaplan. 

The company aims to address the much-needed gap in the market as employers look to address the emotional well-being of their employees through their web or app available on iOS and Android.

The platform has combined data analytics and clinical research by psychologists to provide employees with a new way to manage their emotional well-being, from self-care to therapy sessions. 

ifeel also enables individuals to access different resources depending on their needs and interests: articles on health-related topics, an emotions diary, audio guides, and tools to facilitate relaxation or meditation. 

Additionally, they can also speak directly to professional psychologists or initiate an online therapy session through the service. 

Recently, ifeel added Monthly Check-up with Ryff’s Emotional Wellbeing Index developed in collaboration with the University of Wisconsin-Madison Professor Carol Ryff. 

The questionnaire based on Ryff’s psychological well-being scale uses 18 questions to gauge people’s emotional health. 

The results serve as a way for the individuals to see how their emotional health evolves month-to-month and use them in their discussions with their psychologist if they want.

With over 800,000 users and 600 therapists, the company provides coverage in 23 countries and 21 languages. 

Further, the platform offers corporations an annual emotional support plan, combining prevention, monitoring, and individual exercises with specialised therapists.

The service provides H.R. managers with information on employee psychological well-being and is used by AXA Partners, SCOR SE, Glovo, Travelperk, Gympass, Thoughtworks, González Byass, amongst others.

The former F.C. Barcelona midfielder Andrés Iniesta is ifeel’s brand ambassador.