MILWAUKEE – MentalHappy, an online mental health platform designed to help individuals improve their emotional wellbeing through positive peer support, today announced the close of a $1.1 million seed funding round. The round is led by Northwestern Mutual Future Ventures, accompanied by Social Impact Capital, Chai Angels and Peter Reinhardt (Founder & CEO of Segment.io), among others. The capital raised will help MentalHappy add over 1,000 worldwide expert-led peer support groups to the platform in 2021.
Each year millions of Americans face the reality of living with a mental illness and according to recent data, there has been a significant spike in the percentage of U.S. adults reporting symptoms of anxiety and depression since the start of the COVID-19 pandemic. May is Mental Health Awareness Month, and provides an opportunity to raise awareness and support those impacted.
“I’m so happy to be partnering with Northwestern Mutual Future Ventures,” shared MentalHappy founder and CEO, Tamar Blue. “They are a fund that recognizes the value and importance of supporting innovators and changemakers of color who are working to solve significant challenges within communities. Northwestern Mutual is being very intentional when it comes to expanding opportunities and my team and I are honored to have them as part of the MentalHappy family.”
MentalHappy takes a bold approach to mental wellness with a social support system that offers encouragement, practical advice, and a safe space for positive healing. With the belief that mental clarity is a right, not a privilege, MentalHappy offers affordable pricing and flexible support plans that are accessible to anyone. In December 2020, MentalHappy launched in beta, giving over 300 individuals the tools, resources, and real-life connections they’ve needed to start living an emotionally happier and healthier life. There are now over 2,500 individuals on the waitlist ready to begin utilizing the new app scheduled for release in July.
“MentalHappy has created a fully accessible and easy-to-use resource for mental health services in a safe, digital space,” said Craig Schedler, managing director, Northwestern Mutual Future Ventures. “We’re excited to partner with Tamar and her team, who are making a significant impact to connect and support people of all demographics through their platform by improving emotional wellbeing through peer support.”
As part of Northwestern Mutual’s ongoing commitment to women and diversity, Northwestern Mutual Future Ventures has dedicated a total of $40 million to investing in startups founded by women and Black entrepreneurs to help close the funding gap and advance their companies.