KUALA LUMPUR: Singapore-based digital mental healthcare provider ThoughtFull has raised US$4mil (RM17.9mil) in an oversubscribed pre-series A funding round.
The funding round was led by Sheares Healthcare Group, a wholly-owned healthcare entity of global investment firm Temasek.
Other members of the round were returning members Vulpes Investment Management, The Hive Southeast Asia, as well as founding members of technology giants such as Grab, Zalora, and global private family offices.
“ThoughtFull’s approach to scaling seamless, end-to-end mental healthcare aligns with Sheares’ mission to invest in companies that are shaping the future of healthcare through innovative and patient-focused care.
Their successive payor partnerships clearly indicate the demand for their proposition and attest to the strength of their team.
"ThoughtFull is taking meaningful steps to close the gaps in today’s mental health ecosystem and we are excited to partner them on their journey,” said Sheares Healthcare chief corporate development officer Khoo Ee Ping in a statement.
ThoughtFull said it plans to use the funds to further scale its business across Asia and deepen its product offering across the end-to-end spectrum.
The company also plans to conduct further clinical research around the region to provide more Asia-focused insights for personalised mental healthcare.
"Sheares Healthcare is one of the leading healthcare investors globally and we are excited to be partnering with them to advance Asia’s mental health ecosystem to the next level.
"Building on the work we do with healthcare professionals, employers, and insurers, we are yet another step closer to realizing our vision to empower everyone to make mental health a priority everyday by bringing seamless end-to-end care to all,” said ThoughtFull founder and CEO Joan Low.
ThoughtFull’s digital platform, ThoughtFullChat, was developed in collaboration with global leading industry experts as well as local mental health professionals to address the challenges faced by
traditional mental health systems that are struggling to meet the rise in demand across Asia.
Via the platform, individuals are empowered to access personalised mental healthcare across the end-to-end gamut of needs from preventive to curative and crisis all through their phone.
ThoughtFull also powers the mental health ecosystem through its provider facing platform, ThoughtFullChat Pro, that enables certified mental health professionals to scale their digital practice in an insights-based and data-driven manner.