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Classified in: Health, Business
Subject: FNC

Mental Health Benefits Startup Secures $1M+ in Seed Funding

Investment led by Amplify Capital with additional participation from Good & Well, Active Impact Investments, and others

TORONTO, Jan. 23, 2020 /CNW/ - Inkblot Technologies Inc. ("Inkblot") announced today that it closed on the first tranche of capital in seed round funding led by Amplify Capital. Inkblot provides modern mental health solutions ? effective and accessible employee care ? to Canadian and US companies. This funding will accelerate Inkblot's sales, channel-distribution strategies, platform development, and their continued expansion into the United States.

Inkblot (CNW Group/Inkblot)

"We are proud to lead this round of fundraising and support the team at Inkblot as they provide solutions to the mental health crisis here in Canada and abroad," said Kathryn Wortsman, managing partner of Amplify Capital. "Inkblot's comprehensive platform has dedicated applications built to improve the lives of those running companies, their people, and the counsellors providing care. We have seen a number of mental health ventures, but Inkblot stands out as the only data-driven solution that demonstrates improved mental health outcomes and a healthier mental state in both the workplace and outside of work."

Inkblot offers a confidential online video solution for mental health counselling. The product uses advanced technologies for intelligent therapist matching, effectiveness monitoring, and maximizing the human connection between care providers and clients. By providing access to qualified counsellors coast to coast Inkblot removes barriers posed by the shortage of mental health therapists available outside of major metropolitan areas.

Inkblot's clients include organizations that recognize that improved access to mental health support in the workplace leads to employees who feel better and are more productive. Inkblot has also established partnerships with the leading national providers of group benefits on mental health platforms.

"Inkblot has built strategic mental health offerings for a range of companies of varying sizes and internal benefits landscapes," said Luke Vigeant, co-founder and CEO of Inkblot. "The additional capital we've received, and the caliber of investors we have attracted on this round will be instrumental in supporting our continued team and sales growth across a number of customer channels, and most importantly, the tens of thousands of people covered by Inkblot Mental Health Plans today".

In addition to Amplify Capital, Good & Well and Active Impact Investments participated in this Seed round. Inkblot has the option to close on an additional $450,000 of additional capital prior to February 14, 2020.

Additional information on Inkblot's Corporate Mental Health Benefits Plans can be found at: business.inkblottherapy.com

About Inkblot
Inkblot is a VC and Techstars backed Toronto-based company offering corporate mental health programs, with a focus on secure video counselling that is available any time, any place to make mental health support readily accessible. Using a proprietary algorithm, employees are matched to the best counsellors for their specific needs and preferences. Uniquely, Inkblot monitors clinical effectiveness and client satisfaction session-to-session. With Inkblot, employees can get the help they need when they need it. Inkblot's mission is to create affordable, accessible and innovative services and technologies to improve the psychological health of individuals and organizations. Inkblot is a proud alumni of the 2019 Techstars Toronto Accelerator program as well as the DMZ Growth Accelerator program in Toronto.

About Amplify Capital
Amplify Capital, formerly the MaRS Catalyst Fund, is a seed stage venture fund investing in highly scalable technology companies solving for social and environmental market gaps. Amplify believes that a thriving economy is one of reduced inequality based on a foundation of affordable clean energy, quality education and healthcare.  Amplify Capital is based in Canada and invests in Canadian mission-driven businesses... https://www.amplifycapital.ca/

About Good & Well
Good & Well is a boutique impact investment firm based in Toronto, Canada that partners with early stage social purpose businesses. Their mission is to help catalyze a more purposeful, sustainable economy for all.

About Active Impact Investments
Active Impact Investments is a certified BCorp based in Vancouver, BC that manages a limited partnership fund with $10M in assets under management. They exclusively invest in small private companies that solve an important environmental or social problem and they provide extensive post investment support. https://www.activeimpactinvestments.com/

SOURCE Inkblot

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