Ukrainian platform for psychologists Mindly raised $2 million in a seed round

Ukrainian platform for psychologists Mindly raised $2 million in a seed round

Funds were raised from the European fund Inovo VC and the famous angel investor Patrick Backman, co-founder of MariaDB and the venture fund OpenOcean VC

The startup Mindly is a high-tech online platform for psychologists and their clients, which was created in 2022 by Dmitry Podolev and Maria Smerechuk. During its existence, Mindly significantly increased its annual income from $100 thousand to almost $10 million, becoming a leader in the Ukrainian market thanks to product-first and technology-first strategies.

Mindly now has more than 300 thousand users and more than 1,300 psychologists.

As noted in the company, Mindly offers an advanced technological solution that facilitates the work of psychologists and provides simple and convenient access to psychological services for clients. The company strives to make mental health care accessible to everyone, overcoming geographical limitations and ensuring transparency and simplicity in the therapy process.

Mindly has attracted $2 million in investment from an influential investment fund with a capital of more than €100 million - Inovo VC. Among the fund's significant investments are Preply, Booksy, Tidio, Packhelp, Infermedica, Spacelift, as well as more than 30 other companies. Another investor was Patrick Backman, co-founder of MariaDB and the OpenOcean VC venture fund.

Mindly plans to expand aggressively in 2024 as it sees numerous market opportunities in Europe, the US, Africa and Asia. One of the company's advantages is that its technology platform allows it to quickly and easily scale to new markets.

Based on Mindly's internal estimates of the total number of psychologists available and their average annual salaries, and assuming Mindly will capture 10% to 15% of the global market, the company projects its potentially achievable market to be around $5 billion.

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