The Brazilian healthtech Vittude announced that they have raised US$7 million in a Series A investment round. Crescera Capital led this round, with Endeavor’s Scale Up Ventures and Redpoint Ventures participating.
This new capital will be used mainly for the hiring of new talent. Currently, Vittude has 60 employees and is looking to reach 150 by the end of the year. With this growth, it hopes to reach its goal of tripling its current income.
Vittude focuses on the mental health of company employees. It helps them to identify conditions such as depression or anxiety in time, and then directs them to qualified therapists that can treat them both online and offline.
Based in São Paulo, the company was created in 2016 by Tatiana Pimenta. Suffering from depression herself and not knowing where to find help, Pimenta wanted to find a solution within the work environment, which is often a trigger for this type of illness.
Vittude currently has more than 700 active psychologists offering therapy remotely. Among its clients are companies such as Banco do Brasil, SAP, Sky, Grupo Boticário and Saint Gobain.
As the harmful effects of chronic stress and burnout become more apparent, more startups are beginning to address these issues. In Latin America alone, more than 22% of the population suffered from a mental illness in 2017, according to the World Bank.
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