Mindly successfully raises a $2M seed round while growing rapidly

Mindly, a global platform for professional online mental healthcare therapy, has raised $2 million in funding from the leading European investment fund Inovo VC and Patrik Backman, a renowned angel investor and co-founder of MariaDB and OpenOcean VC.

About Mindly

Mindly is a technology driven company providing a comprehensive online platform for mental healthcare therapists and their customers. The tech company was founded in 2022 by Dima Podoliev and Maria Smerechuk. After only 17 months, Mindly increased its annual revenue from $100,000 to an incredible $10,000,000 and became one of the fastest growing European tech companies, thanks to its product-first and technology-first strategy.

At the moment, Mindly has over 300,000 users and more than 1,300 psychologists.

“We have developed a high-end solution that facilitates therapists’ work and provides easy and convenient access to mental healthcare services for their clients. Our goal is to make mental healthcare accessible to everyone worldwide by keeping the therapy procedure transparent and simple,” the company says.

AI and ML serve to optimize many minor things in different areas, resulting in a significant difference between a bad and an excellent marketplace. Dima believes that those 5% or 10% improvements result in a significant cumulative improvement for the platform as a whole. This is the real strength of AI that can and must be used today.

About competition

Where will the funds go?

Mindly has raised $2 million from Inovo VC, an influential investment fund with over $100 million in capital. Its successful portfolio includes Preply, Booksy, Tidio, Packhelp, Infermedica, Spacelift, and 30+ other companies. Another investor was Patrik Backman, co-founder of MariaDB and OpenOcean VC.

Also, in May 2022, Mindly received an investment from the Google for Startups program.

2024 will be the year of Mindly’s intensive expansion following the company’s investigation of several untapped market opportunities in Europe, Africa, Asia, and the US. One of its advantages is that the platform can quickly and easily scale up in new markets.

If you think Mindly is like other startups with low salaries and no life-work balance, the situation at the company is different. We offer very competitive wages, and the work-life balance is one of our great values 🙂 We are running a marathon, not a sprint. We are building a solid team for the next decade, not for a few months,

Maria Smerechuk, co-founder of Mindly, says.

Based on Mindly’s internal evaluations of the total number of available psychologists and their average annual salaries and considering Mindly’s world market share of 10% to 15%, the company forecasts its serviceable obtainable market at around $5 billion.

Our team is our most valuable asset: our family, our closest friends, our heroes who have built Mindly to where it is today. We hire only A-level players and have about 100 candidates per vacancy on average. If you would like to know the core of Mindly’s success, I would say it is our team! Maria’s and I are endlessly grateful to our unbelievable team. Working with our wonderful colleagues is a great honor and a privilege!

Dima Podoliev, co-founder of Mindly, summarizes.