Supporting growth with new talent attracted to technology companies helping people in need
melbourne, australia, March 21, 2023 /PRNewswire/ — Mindset Health, a digital hypnotherapy company, announced today that it has raised funding. $12 (AUD 1,780) Led by King River Capital, a leading VC investor in the US and Australia, Tatterang’s Tenmile, Yard Ventures, matt mullenweg (Automattic, Founder of WordPress) John Kim (Founder of SendBird) alex zaccaria and anthony zaccaria/Nick Humphries (Linktree founder), sandy coryBanana Capital et al.
Image showing the Mindset Health digital hypnotherapy app for medically diagnosed irritable bowel syndrome, menopause, and smoking cessation.
Mindset Health helps people with chronic illnesses learn to manage their health through app-based voice, combining the expertise of world-class medical experts and clinical research with a unique, scalable technology platform to deliver evidence-based, We provide consumer-friendly digital hypnotherapy. These apps help people manage various health conditions anytime and anywhere.
Mindset Health’s top three markets by number of users are the US (38%); Australia (19%), and England (15%).
Funding from this latest round will support the continued growth and development of Mindset Health’s digital hypnotherapy app, including expanding market channels to support growing global demand. We are launching new apps in response to market demand for conditions such as anxiety, depression, sleep, and chronic pain.
Importantly, this funding will enable Mindset Health to continue its clinical and real-world research.[i] program, partnered with institutions such as: baylor university Monash University and Australiafurther advancing evidence generation for health and economic outcomes while enhancing existing hypnotherapy programs with additional functionality and personalization.
Mindset Health currently offers three hypnotherapy apps that address medically diagnosed irritable bowel syndrome, menopause, and smoking cessation.
Co-founders comment on Series A funding Alex Naumidis Said:
“Global demand for our hypnotherapy program is driven by medical professionals who recognize its effectiveness in supporting patients and encourage its use, proving our theory and encouraging people to try hypnotherapy. It proves a deep market demand for easy-to-use solutions that help people manage and live well with poor health conditions.
“This latest round of funding will help us continue to meet that demand and offer a broader range of products in new areas, as well as provide additional support to help create high-quality digital programs backed by clinical rigor. It can also help fund research programs.
“Our brain can influence our immune system, heart health, habits, and pain perception. Our mission is to unlock the potential of our minds and transform the way we think, feel, and act. It’s about helping change.”
Referrals from doctors, nutritionists, and other providers are primarily natural through word of mouth, but are already driving significant growth, and this is expected to We will continue to build over the next 12 months.
Healthcare providers not only serve as an expansion channel for growth, but also retrospective studies.[ii] Users who are referred by a healthcare professional have been shown to be significantly more likely to adhere to the program long-term.
Hundreds of controlled studies have shown that hypnosis-based therapy is effective in managing many chronic health conditions, providing results not achieved with other options. This includes managing 60% of irritable bowel syndrome (IBS) symptoms.[iii][iv]; Twice as effective at helping people quit smoking than nicotine replacement therapy[v]management of menopausal hot flashes[vi] reduces chronic pain[vii]. Not only is hypnosis effective, it avoids the side effects that can occur with approaches such as opioids and nicotine.
chris barterco-founder and partner at King River Capital.
“By automating hypnosis-based treatments, Mindset Health is combining traditional approaches with efficient scalability, on-demand availability, and clinical rigor without the side effects and billions of dollars in R&D costs. It takes advantage of the very qualities that made it successful.
“This is a complete game changer in helping people around the world take control of their health and deal with a variety of chronic diseases naturally and holistically.”
Mindset Health is also looking to significantly expand its team to address requirements across all aspects of the business, from software engineering to healthcare sales. Chris Naomidis said:
“Critical to our growth is attracting the right talent. Not only are we offering all the benefits of working for a growing technology company, but we are also building great products. We believe we have an unfair advantage because people recognize that making a real difference in people’s lives is important to us as a collective. We want to encourage like-minded people to join Mindset Health, and that spirit permeates everything we do.”
Ten Mile Executive Committee Chairman steve burnell Tenmile said he has been impressed with Mindset’s growth over the past 12 months.
“Mindset’s focus on evidence generation, user experience, and patient outcomes drives significant organic referral volume and strong user retention, making us the partner of choice for healthcare providers and patients worldwide. ” said Dr. Vernell Sy.d.
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[i] Peters, SL, Gibson, PR and Halmos, EP (2023) “Gut-directed hypnotherapy delivered via smartphone app improves self-reported symptoms of irritable bowel syndrome: A retrospective evaluation.” Neurogastroenterology and motility [Preprint]. Available at https://doi.org/10.1111/nmo.14533. |
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[ii] internal data |
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[iii] Lee, HH, Choi, YY, Choi, M.-G. (2014) “Efficacy of hypnotherapy in the treatment of irritable bowel syndrome: A systematic review and meta-analysis.” Journal of Neurogastroenterology and Motility, 20(2), pp. 152–162. Available at https://doi.org/10.5056/jnm.2014.20.2.152. |
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[iv] Peters, South Carolina other. (2016) “Randomized clinical trial: The efficacy of gut-directed hypnotherapy is similar to that of a low FODMAP diet in the treatment of irritable bowel syndrome.” Digestive pharmacology and therapeutics, 44(5), pp. 447–459. Available at https://doi.org/10.1111/apt.13706. |
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[v] Hasan, F.M. other. (2014) “Hypnotherapy is more effective than nicotine replacement therapy for smoking cessation: Results from a randomized controlled trial.” Complementary therapies in medicine, 22(1), pp. 1–8. Available at https://doi.org/10.1016/j.ctim.2013.12.012. |
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[vi] Elkins, G.R. other. (2013) “Clinical Hypnosis in the Treatment of Postmenopausal Hot Flashes: A Randomized Controlled Trial.” menopause, 20(3), pp. 291–298. Available at https://doi.org/10.1097/gme.0b013e31826ce3ed. |
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[vii] Thompson, T. other. (2019) “Efficacy of hypnosis for analgesia: A systematic review and meta-analysis of 85 controlled experimental trials.” Neuroscience and Biobehavioral Reviews, 99, pp. 298-310. Available at https://doi.org/10.1016/j.neubiorev.2019.02.013. |
Source Mindset Health
