The company behind teen mental health game and platform eQuoo has raised £1.5m in investment.
US firm Morningside Ventures led the investment round in London-based PsycApps to help the company scale and further develop eQuoo.
PsycApps was co-founded by clinical psychologist Silja Litvin and former Chief People Officer and Chief Transformation Officer Vanessa Hirsch-Angus to address the mental health needs of adolescents and young adults.
The company’s platform offers an accessible, scalable and persistent mental health intervention that gives higher education institutions the ability to positively impact the mental health of students.
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Recognizing the unmet needs of hundreds of thousands of students in the UK alone for evidence-based prevention and intervention programmes, eQuoo is tailored to the consumption habits and needs of young adults.
With over half a million players worldwide, PsycApps’ goal is to reach all young adults who need an emotional and mental boost in a way that makes it easy for them to stick with the program.
Silja Litvin, Co-Founder and CEO of PsycApps, said: “After working in an NHS priory, I realized that my clients were contacting me too late, often after six months on a waiting list and years after experience the first symptoms.
“I wanted to find a way to give them the skill set they needed before they needed it.
“If a student drops out of their course due to mental health issues, it will change their lives in a way that will harm them and society.
“With eQuoo we provide young adults with a tool that helps them grow mentally, stay mentally healthy and get help if they have problems.
“We are excited to be working with the team at Morningside, who have a great track record. From our first meeting, it was clear that they share our passion for tackling this global mental health issue and especially the negative impact it is having on outcomes for those still in school. Morningside’s focus on investing in health, technology and social responsibility is a perfect fit for PsycApps.”
Speaking about the investment, Stephen Bruso, digital health and biotech partner at Morningside Ventures, commented: “Digital health interventions will be critical in how our society addresses the current second pandemic of mental health issues.
“However, designing these interventions to maximize long-term engagement and outcomes will be critical to making a difference. Silja and her team have shown strong data for engagement and results in large clinical studies, and we are proud to partner with them to bring eQuoo to people who need it everywhere.”
PsycApps was co-founded by Litvin and Hirsch-Angus, who have a background in private equity and insurance.
The company is targeting the UK education market, where secondary schools, colleges and universities desperately need tools to help keep their students healthy, and many of their existing mental health care programs fall short. .
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