Once considered taboo, talking about mental health has become an important part of our lives and a focus for many businesses and entrepreneurs.
That’s why Wondermind, a mental health startup that wants to make mental health talk mainstream, is getting so much attention. The company, which was co-founded by Mandy Teefey, Daniella Pierson and Selena Gomez, announced a $5 million Series A financing round Friday, putting the company at a staggering $100 million valuation.
“We are so excited to announce this round of funding and are deeply grateful to our incredible investors for believing in our vision to democratize and destigmatize mental health worldwide,” said Wondermind co-founders Mandy Teefey, Daniella Pierson and Selena. gomez. londonbusinessblog.com in an email. “This funding will be used to accelerate the build of Wondermind’s mental fitness ecosystem for our daily online content, CPG products and original stories across all platforms – with the ultimate goal of making mental fitness exciting and accessible to everyone.”
Funding was led by Serena Ventures, the VC firm founded by londonbusinessblog.com and tennis legend Serena Williams.
“As a company that values inclusivity, it has been incredibly important for us to raise funds from companies that are mission-driven and inclusive, and that’s exactly what Serena Ventures stands for. We also love Serena’s passion and drive for improving the mental health health space and are confident that she and her team will help us win,” said the Wondermind team.
The founders also said the Capital will enable Wondermind to continue producing accessible mental health content, including a podcast, newsletter and, ultimately, a product line of tools designed to help members stay in touch with their mental health.
The company also envisions a production arm that could open the door to more exclusive content in the form of film and video.
Wondermind launched in early 2022 with a newsletter that users receive three times a week, featuring everything from celebrity interviews to expert advice to mental health resources.
“I believe that media plus product equals ecosystem,” Pierson said londonbusinessblog.com in an interview last November. “And we already have big brands showing interest in advertising and partners with us. We are excited to build a lucrative business. Because the best way to get society to pay attention to a problem is to to make money with it. moves are made.”
The company’s new valuation and funding will position it to become the largest versatile platform of its kind, the founders said.