Mental health startup Intellect gets US$10m more in Tiger Global-led extended round

INTELLECT, a mental health startup headquartered in Singapore, has raised an additional US$10 million in a Series A extension led by Tiger Global, bringing the total funding raised in the round to US$20 million.

New investors K3 Ventures, JAFCO Asia, Singtel Innov8 and PERSOL Holdings joined the round. Existing investors Insignia Ventures Partners and HOF Capital doubled down on their investment.

Companies such as Merck, Philips, Shopee and foodpanda use Intellect to give employees access to mental health services and benefits. Intellect charges the companies for services provided and for employees’ platform access.

Launched 2 years ago, the startup said it has therapists and coaches based in 20 countries, and provides localised coverage and self-guided programmes in 15 languages.

Over 3 million people spanning 60 countries are registered on Intellect’s platform, the company said.

“Intellect’s mission is to normalise mental health and shift the culture towards more open conversations about personal well-being, ultimately removing the stigma attached,” said co-founder and CEO Theodoric Chew.