Personalised workplace mental health startup Oliva has raised £4.84m in a seed funding round.
Founded in 2020, Oliva says it is the answer to the “wave of pseudo-scientific practices and half-baked, unproven solutions” that have sprung up with the rise of online mental healthcare.
The London-based startup provides bespoke support to employees for dealing with work-related mental health problems, from burnout to low self-esteem to anxiety.
The company says its platform, which launched in 2021 with a £2.2m pre-seed investment, is clinically backed and has a “100% evidence-based care model”.
Oliva says its latest funding round is the largest seed raise for a mental health startup in Europe.
The investment was led by seed-stage investor Stride VC. Additional investment was provided by early-stage investment firm Moonfire.
It will use the capital injection to build new digital tools, add additional languages and time zones and add workshops and self-guided content.
Oliva is targeting SME and high-growth companies and counts the likes of edtech Learnerbly, remote software tester Maze and open banking firm Belvo among its customers.
“Our vision is to become Europe’s most comprehensive and clinically validated workplace mental health platform,” said Oliva co-founder and CEO, Javier Suarez.
“As businesses increasingly recognise the need to provide better support and to mitigate the impacts of mental health-related absence, Oliva is a standout evidence-based platform that importantly goes beyond treatment to target prevention and early intervention.”
Suarez co-founded Oliva after struggling with mental health problems that built up from the pressure of founding and scaling business travel startup TravelPerk. Finding the right therapist helped him understand the importance of workplace mental health.
Oliva is aiming to support the one in six people who experience mental health problems in the workplace, which research shows contributes to 12.7% of all sickness absence days in the UK.
The company says its revenue has grown by more than 30% month on month since the start of 2021.
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