# MindBeacon Software

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/mindbeacon-software

- Industry: Software
- Headquarters: Toronto, Canada
- Website: www.mindbeacon.com
- Total disclosed funding: $38M
- Latest round: Series A (Nov 5, 2019)
- Investors on record: 5

## About

MindBeacon Software Inc. provides digital mental health support services, specializing in therapist-assisted cognitive behavioral therapy (CBT) via a secure virtual platform. Their offerings cater to a wide range of clients requiring mental health assistance.Founded in 2016 and headquartered in Toronto, Canada, MindBeacon Software Inc. focuses on delivering digital mental health solutions. The company has raised a total of CAD 116.00 mn through four funding deals, with the latest funding coming from a Trade Sale completed on December 17, 2020. CloudMD Software & Services Inc. participated in this round. MindBeacon’s founder has not been specified, nor has the company been documented as a subsidiary or a result of a merger.MindBeacon offers a comprehensive suite of digital mental health support services, primarily centered around therapist-assisted cognitive behavioral therapy (CBT) delivered through a secure virtual platform. Their core offerings include live therapy sessions, guided CBT programs, and messaging counseling, all designed to accommodate the diverse needs of clients seeking mental health support. The services are specifically tailored to help individuals enhance their resilience and effectively manage life's challenges, making them suitable for a wide range of end users, from those experiencing mild stress to individuals dealing with more significant mental health issues. MindBeacon's client base consists of Canadians looking for accessible and flexible mental health solutions, with services available across various provinces, ensuring that geographical limitations do not impede access to care.MindBeacon generates revenue through a multi-faceted transaction structure that encompasses both direct-to-consumer and business-to-business models. Clients typically engage with the platform through subscriptions or pay-per-session models, allowing for tailored access to various therapeutic services. The pricing structure includes a range of options that cater to different client needs and budgets, with most services offering coverage through insurance plans. While specific pricing details are outlined on their homepage, the services provided include flagship options such as live therapy sessions and therapist-guided programs. Partnerships with healthcare providers and employers further diversify their revenue streams, allowing MindBeacon to reach a broader audience while enhancing access to mental health resources.MindBeacon intends to utilize its latest funding round of CAD 116.00 mn to accelerate its entrance into new markets and expand its digital mental healthcare platform significantly. The company plans to enhance its Software as a Service (SaaS) capacity and aims to launch new products and services in the near future, although specific release dates have not been disclosed. The strategies include targeting broader geographic regions to ensure more individuals have access to their mental health resources.

## Funding rounds

- Series A, Nov 5, 2019, $18M — Manulife Investment Management, TELUS Ventures, Green Shield Holdings Inc
- Series A, Sep 25, 2018, $20M — Manulife Investment Management, TELUS Ventures, Strauss Interests, Elkland Capital Inc.

## Investors

- Manulife Investment Management (https://capitalatlas.ai/funds/manulife-investment-management) — Series A
- TELUS Ventures (https://capitalatlas.ai/funds/telus-ventures) — Series A
- Strauss Interests — Series A
- Elkland Capital Inc. — Series A
- Green Shield Holdings Inc — Series A