Cuéntame, a wellness and mental health platform, raises $1.1M in seed round led by Impacta VC

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Tell me announced the closing of its $1.1 million pre-seed round, positioning itself as one of the fastest growing startups in the mental health tech industry in Mexico and Latin America. Founded in 2019 in Mexico, Cuéntame closes the existing gap in the inclusion of mental health in organizations.



sicuentame.com

The funding round is led by Impacta VC and includes the investments of Colectivo Jaguara, 99 Startups, Fondation Botnar & New Ventures, Pareto20 and Investo, as well as numerous angel investors. The next step for Cuéntame is to continue to increase its presence in Mexico, Colombia and Chile. It is projected to grow to 12 times its current size by the end of 2023.

So far, the platform has reached 64,000 people across organizations, including big names like Nestlé and unicorns like Kavak and Bitso. Cuéntame’s impact on these organizations is immense; average, staff turnover reduced by 60% and wellbeing increased by 40%.

With this round of investment, it hopes to reach one million users in the next 18 months, or as they recently said on their LinkedIn: “We know pioneers in mental health and we have the firm belief that discipline, together with an endless curiosity to learn from our users, will allow us to fulfill the mission of removing barriers to mental health in every corner of Latin America”.

The idea for the initiative was born after Regina Atie and Fernando Chavez, two of the founders, will discuss their personal struggles with accessing mental health support. It’s no wonder that being founded just before the pandemic helped catalyze the growth the company is experiencing today, as the pandemic was a pivotal moment in terms of mental health awareness.

There is a huge gap in access to mental health support for people, which is particularly noticeable in Latin America and the Caribbean, where on average only 1% to 2% of countries’ health budgets go to mental health initiatives. The Cuéntame platform helps show this disparity, as it reports that 70% of its users access mental health help for the first time in their lives when they join the platform.

Employee well-being has a huge impact on organizations and a lack of it can lead to lost productivity, burnout and absenteeism. In one study, researchers found that workers lose an average of half a day of work per week due to depression. Depression is estimated to cost employers between $31 billion and $51 billion a year in lost productivity. According to the Lancet Commission, by 2030 the global cost of mental health problems will reach $16 trillion.

tell me a platform powered by people and technology which focuses on identifying, preventing and resolving mental health risks. It provides personalized and high-quality resources not only to employees but also to their families. Organizations receive well-being indicators that summarize the state of the company in terms of the well-being of its employees, pain points and information on how they can improve to be better employers. Cuéntame hopes that through its platform, organizations can avoid staff turnover due to burnoutimproving engagement and creating a culture of wellness that inspires and motivates people.

One obstacle Cuéntame has to overcome is the stigma that exists in Latin America regarding mental health. Traditional Latino culture, where macho values ​​are common, often means less willingness to seek professional help. There is still a long way to go to close the gap mental health (the difference between the number of people who need care and those who receive it), as the weighted average treatment gap in Latin America for moderate and severe diseases is close to 75%.

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