Wise Therapeutics Raises Pre-Seed Funding: Releases Free Version of Personal Zen for Android and IoS Free to Consumers
The evidence-based app for stress and anxiety will be widely available to support mental wellness during COVID-19 crisis and beyond
(October 8, 2020, New York) Wise Therapeutics, a digital therapeutics company created to improve access to effective mental health treatments using digital interventions, announced the closing of its first outside funding of $525,000 to support Android development and early rollout of its flagship app Personal Zen for stress and anxiety. The app offers a game-like cognitive training algorithm that is based on years of clinical research by its co-founder Dr Tracy Dennis-Tiwary. Its pre-seed funding round was led by SeedLink SL, an early stage VC investor focusing on digital health and technology solutions, including additional investors Teem Ventures, a NYC-based venture development studio, and Reshma Saujani, a women’s leadership advocate and the Founder of Girls Who Code.
In the United States, more people suffer from behavioral and mental health problems than any other disease category. The current pandemic has further highlighted the need for more accessible treatments, with 53% of adults in the US reporting increasing feelings of stress and worry as of July 2020. To help serve this need, a free version of Personal Zen is being offered on iOS and released on Android for the first time. Additional features and content will be offered to healthcare organizations to help identify, support and manage the care of individuals burdened by stress in the workplace and suffering from chronic and episodic health conditions.
“Our true mission is to provide universal access to mental wellness,” shared Dr. Tracy Dennis-Tiwary, Co-founder and CEO of Wise Therapeutics. “We have an incredible opportunity and a responsibility as scientists to take the ideas we create in the lab and put them in the hands of people who need them most.” Personal Zen’s clinically validated algorithm has over twenty years of research showing its efficacy in reducing stress and anxiety and helping build resilience to stress. Designed to radically lower the barriers to engagement and access, Personal Zen is effective when used for just a few minutes a day, a few days a week.
“Throughout the global pandemic, people have been searching for effective resources to help improve resulting stress and anxiety,” said Tim Juergens, Co-founder and General Manager of SeedLink SL. “We are excited to get behind Wise Therapeutics and support their journey to impact lives with clinically validated digital therapeutics that are accessible, effective, and easy to use throughout and well after this pandemic.”
ABOUT WISE THERAPEUTICS INC.:
Wise Therapeutics is committed to democratizing access to effective mental health treatments through the intuitive use of technology. Over 60 million Americans suffer from mental health problems annually, and over half of us (150 million people) will experience a clinically debilitating mental health problem in our lifetime. Among this group, many of whom suffer from stress, anxiety, depression, and addiction, 50% never seek treatment. Low access, high price, and stigma are the leading barriers to accessing treatment. Wise Therapeutics’ mission is to have a powerful, positive impact on the global mental and behavioral health crisis through the translation of cutting-edge science into digital therapies that lower the barriers to access, and are as engaging as they are clinically effective.
Learn more about Wise Therapeutics at www.wisedtx.com