Oliva, a healthtech platform offering specialist, on-demand mental health and wellbeing support to employees, has announced that it has raised $5.4 million (€5 million) in a funding round by Molten Ventures, with participation from existing investors Stride VC and new backers Alumni Ventures and angels including Kieran Flanagan.
The London-headquartered company plans to use the latest investment to expand its network of 250 specialist therapists, launch in new markets, including more US states, and introduce new languages, including Croatian, Serbian and Dutch.
Co-founded in 2020 by Javier Suarez and Sançar Sahin, Oliva works closely with employers to create and launch successful strategies to improve workplace wellbeing; they can improve employee happiness and retention and increase productivity. The platform unlocks a wide array of evidence-based psychological interventions for individual team members, from on-demand therapy and coaching to group workshops, personalised self-guided content and exclusive talks. Over 12 types of therapies are available via the platform, designed to provide the proactive and reactive support needed to help people tackle issues such as anxiety, burnout or depression. It aims to support the broadest possible spectrum of mental health needs.
Speaking on the fundraising, Co-founder & CEO of Oliva, Javier Suarez, said:
From the beginning, our vision for Oliva has been clear: to be Europe’s most comprehensive and clinically validated workplace mental health platform. Companies working with Oliva get more than a platform – they get a full-scale partnership for their employee mental health strategy. And for employees – they don’t get short-changed by a system powered by bots. We offer evidence-led, human-centric support strategies tailored to their needs.
Suarez added:
We’re grateful for the trust and support our investors have shown us so far, allowing us to continue making strides, and look forward to accelerating that with our new and existing investors.
The startup is already used in over 27 countries worldwide and is currently available in 14 languages, with existing customers including Marshmallow, Maze and Leapsome. This funding will double down on the evolution of their in-house Oliva Care Model. Led by the platform’s Chief Clinical Officer and leading cognitive behavioural therapist, Dr Sarah Bateup, this model enables users to be guided towards a bespoke package of human-led intervention or support for their individual needs, with that route able to adapt based on outcomes dynamically.
Dr Inga Deakin, Principal, Molten Ventures, added:
Poor mental health has a massive impact on employers and wider society. We can expand access to mental health support and early intervention beyond the usual structures of healthcare systems. Molten is proud to back the team at Oliva. They are world-class repeat entrepreneurs with the experience and capabilities to tackle challenges around mental health and provide a method to help many people worldwide.
With the funds, the firm also aims to launch an Oliva app – enabling users to access support wherever they are – and build out additional product features to improve the user experience for staff, HR teams, and practitioners alike. This will include incorporating AI functionality to enhance their human-led service, such as automating note-taking so therapists can focus on care.
Last year in March, Oliva raised $6.3 million in seed funding led by Stride VC, a seed-stage VC firm based in London, and Moonfire provided additional investment. Before that, it had raised $2.2 million in its pre-seed investment round in July 2021. The company’s latest funding brings its total raised to $14 million (€13 million).
