Psicologia Viva snags US$1 million to improve Latam’s mental health

Contxto – You can’t put a price tag on mental health, but you can invest in it. As corporate venture capital (VC) fund Neuron Ventures recently showed. It contributed R$6 million (US$1 million) to healthtech Psicologia Viva.The startup will use the funds to hire additional staff, release new products, as well as expand within its native Brazil and the Latam region.

The deal between the parties was signed in December of last year. However the announcement was made this week.

No doubt, Neuron Ventures is likely pleased with the agreement as coronavirus (Covid-19) has put remote healthcare platforms like Psicologia Viva’s on the fast track to visibility and an increased user base.

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Psicologia Viva’s mental healthcare platform

Entrepreneurs Braulio Bonotto, Edinei Santos, Fabiano Carrijo, Luciene Flag, and Paul Justin launched their startup in 2015. Back then it had a B2C focus. However it expanded into the B2B realm two years later when it began to offer companies its services as a benefit for their employees.

Its system works as a marketplace where patients can connect with therapists and hold video conference calls to talk.

And like other startups of this nature, Psicologia Viva has experienced growth as users rely on remote healthcare platforms to cope with quarantines.

The startup states to have managed 18,000 consultations last March. This number jumped to 24,000 in April. And for this month, Psicologia Viva expects to channel 30,000 consultations.

Covid-19’s impact on mental health

For many people, stress and anxiety have become day-to-day battles as they practice self-isolation. But rather than ignore them altogether, they’re using remote therapy to tackle these mental health issues.

But mental health in the workplace goes far beyond Covid-19.

•  Related article: 10 startups giving Brazilians peace of mind

Businesses are increasingly concerned about how burnout and unstable work-life balance can harm productivity levels. And employers want their staff at their best, for which they’ll seek to invest in remote healthcare platforms, gym memberships, meditation rooms in the office… or whatever else is within their budget to help staff stay sane.

In any case, Covid-19 has further driven the importance of mental health. And many users likely experienced their first therapy session during this time and will likely return. Which only adds truth to Psicologia Viva co-Founder, Fabiano Carrijo’s words:

“We should grow at lower rates later, but we will not be back to the levels prior to the pandemic.”

Like practically every industry, mental healthcare won’t be the same once the pandemic passes.

Related articles: Tech and startups from Brazil!

-ML