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Madrid-based ifeel, an emotional well-being platform for enterprise and insurance coverage corporations, introduced on Thursday that it has raised $20M (roughly €18M) in a Collection B funding spherical.
FinTLV Ventures and Korelya Capital co-led the most recent funding spherical, with the participation of its present buyers SCOR Ventures, Nauta, and UNIQA Ventures.
ifeel has raised $40M (roughly €36.9M) since its inception.
The corporate will use the funds to develop its business engine throughout present and new markets and deepen its product and innovation capabilities in psychological well being.
“The psychological well being business wants structural change”, says ifeel CEO Amir Kaplan.
ifeel: Providing emotional well-being service
Based in 2017, ifeel is an emotional well-being service for corporations and workers.
The corporate goals to handle the much-needed hole available in the market as employers look to handle the emotional well-being of their workers by means of their internet or app accessible on iOS and Android.
ifeel combines superior information analytics, medical analysis, and state-of-the-art AI fashions to supply employers and insurers with the instruments to handle psychological well being.
With a proprietary danger strategy, ifeel optimally allocates sources to enhance psychological well being outcomes and save on incapacity, productiveness, and claims.
The corporate’s AI merchandise have been skilled utilizing actual human interactions and information collected over time, specializing in medical soundness.
All fashions are constructed following the very best moral requirements, and all information is nameless and confidential.
ifeel offers its companions with distinctive medical and price financial savings insights by measuring, understanding, and stopping danger.
The entire firm’s merchandise are clinically validated and backed by analysis.
ifeel’s prospects embrace main insurance coverage corporations and enormous enterprises like Glovo, Insud Pharma, SCOR SE, Cabify, Travelperk, H&M, Wellhub, Thoughtworks, and others.
ifeel is on the market in 26+ languages and throughout 30+ international locations worldwide.
The investor
FinTLV is a world enterprise capital fund targeted totally on Insurtech and Fintech. The VC backs a few of the most promising corporations in these domains within the US, Europe, and Israel and invests throughout all levels.
Gil Arazi, Founder and Managing Associate of FinTLV Ventures, states, “Having identified ifeel for over 5 years, we’re deeply impressed by their unwavering dedication to revolutionising psychological well being look after enterprises and insurers. This funding is well timed and important because it addresses the rising psychological well being challenges confronted by workers and insured populations. It additionally helps our thesis that the insurance coverage business ought to prioritise prevention and preventative options.’
Korelya Capital is an funding platform that goals to broaden the horizon of European expertise by offering startups with the capital for development and entry to Asian markets. The corporate has over €500M million below administration.
Franco Danesi, Associate at Korelya Capital, provides, “Amir and the ifeel group are on a mission to deal with one of many largest societal challenges of our instances, and have constructed the enterprise with the wants of the important thing constituencies of the psychological well being ecosystems in thoughts, together with sufferers, offers, insurance coverage corporations and corporates.’
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