Temasek unit leads $4m round of SG mental health startup

ThoughtFull CEO and founder Joan Low (left) and Khoo Ee Ping, chief corporate development officer of Sheares Healthcare / Photo credit: ThoughtFull

ThoughtFull, a mental health company based in Singapore, has raised US$4 million in a pre-series A round led by Sheares Healthcare Group, a subsidiary of Temasek.

Other investors included founding members of companies like Grab and Zalora.

ThoughtFull has a digital platform called ThoughtFullChat, which connects users with certified mental health professionals for video calls and text-based coaching. Users can also access self-care resources to manage their mental well-being.

The firm also has a provider-facing app, ThoughtFullChat Pro, which helps mental health professionals scale their digital practice.

The startup has also partnered with insurers such as AIA Malaysia and FWD to offer end-to-end mental health support to their corporate customers. Recently, AIA also announced a partnership with WhiteCoat to launch Think Well, a mental healthcare platform.

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ThoughtFull claims that it has grown its revenue 30x since its launch in 2019 with a user base that now covers 95 locations globally. The company plans to use the new funds to expand its product offerings, grow its team, and enter new markets in Asia.

Last week, another SG mental health startup Intellect also sealed a strategic investment from IHH Healthcare, which has a network of 82 hospitals across 10 countries.