A Dublin-based mental health and wellbeing platform has secured a € 3 million investment to continue its expansion in the UK market.
Spectrum.Life plans to triple the size of its research and development team and has announced that new roles in sales, marketing and partnership development will be created at its Manchester office.
The platform offers mental health and wellbeing coaching via its integrated product suite, which includes content modules such as fitness, nutrition and lifestyle advice support. It currently works with brands like Vodafone, Microsoft, and Intel, and recently reported a surge in demand from employers, insurers, and educational institutions.
The funding comes from Act Venture Capital, an Irish investor, and will be used for further expansion in the UK. The company has announced that it will also keep an eye on other international markets in Europe, Asia, Australia and New Zealand.
“There are already over 300,000 apps that focus on health and wellbeing. We didn’t want to be just one more,” said Stephen Costello, CEO and co-founder of Spectrum.Life. “It’s about giving people the support, help or motivation they need – not just more technology. We are about combining our services with the best interventions and services so that people can live their best lives and thrive.
“We have been incredibly nimble during the pandemic as the demand from employers in particular increased as they knew this was a challenging time for their teams. With this investment, we can bring our virtual consulting and coaching products to the next level through the use of AI and machine learning – and give our coaches and clients all the tools they need to achieve their goals. “
Debbie Rennick, General Partner at Act Venture Capital, added, “We have long believed in digital enablement of mental health services, and it is increasingly recognized that mental health and physical well-being are closely related to maximizing general health.
“Spectrum.Life has silently built a mental health and wellness platform and now serves over 1,250 facilities serving the needs of individuals. We look forward to working with Stephen, Stuart, Sarah and the entire team to carry out their mission of the Enhance Mental Health and Wellbeing Support. “
