Business

PsyAlive receives $1.3 million investment targeting expansion to mental health solution

The company is growing amid pandemic, since more and more people search for an online mental health service

PsyAlive co-founder and CEO, Bráulio Bonoto. Photo: PsyAlive/Courtesy
  • The infusion of capital was led by the Neuron Ventures Fund;
  • Hospital Israelita Albert Einstein, Grupo BMG and FespPart are among the startup’s investors.

The online mental health startup PsyAlive (the startup’s name used outside of Brazil, where it operates as Psicologia Viva) announced it raised $1.3 million (BRL 6 million) in a recent investment round.

The infusion of capital was led by the Neuron Ventures Fund, launched by Eurofarma to support technology projects with the potential to transform the health sector. Hospital Israelita Albert Einstein, Grupo BMG and FespPart are among the startup’s investors.

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Before the COVID-19 quarantine, the company had approximately 3 million people covered by the service. Today, there are more than 6.5 million beneficiaries. The startup saw its numbers skyrocket amid isolation measures.

PsyAlive was founded in 2015 by Bráulio Bonotto and partners Fabiane Carrijo, Luciene Bandeira and Paulo Justino. CEO for Latin America, Bonoto says that the company’s goal in 2020 is to strengthen its participation in the region, since it already has a physical presence in Chile and attend people all across Latin America.

According to CEO Fabiano Carrijo, the funds will be used to drive business expansion, ensuring safety and modernity for psychologists, patients and companies. “We plan to work on improving the platform, investing in the marketing and commercial team, in addition to developing and delivering new digital health solutions and services,” he says.

The solution proposed by the startup delivers value to the patient and allows companies to tackle latent HR pain. Above all, PsyAlive shares our vision of improving people’s quality of life

Paulo Braga, Head of Corporate Venture at Eurofarma