Mental Health Treatment
Prosperity7 Ventures backs Simple Psychology’s efforts in popularizing mental health treatment
Leading Chinese mental health consulting platform, Simple Psychology, completes B financing round led by Prosperity7 Ventures, an Aramco Ventures Fund.
Immediate Release
BEIJING, December 9, 2021 – China’s leading mental health services platform, Simple Psychology has recently completed their latest financing round. The Series B round was led by Prosperity7 Ventures, the diversified growth fund of Aramco Ventures. The funding will be used to strengthen the offering of their well-rounded mental-health solution and expand the service to more people.
While addressing mental health is not as stigmatized as it was in the past, it still faces challenges such as shortage in therapists and psychiatrists, low specialized medical support, and a regulatory regime for the mental-health industry.
Simple Psycholgoy is the leading mental-health services platform in China. The company has been appointed by the National Health Commission of the People’s Republic of China, as the only private entity to provide mental health hotline services to doctors during the COVID-19 pandemic. Simple Psychology is headquartered in Beijing, with offline treatment centers in Beijing & Shanghai.
The company is growing rapidly. Its platform has over one thousand qualified mental-health practitioners from all over the world. Together, the practitioners provided over a million psychotherapy sessions through the platform. The platform has over six million registered users. Such rapid growth is allowing Simple Psycho to collect and aggregate data, allowing for an effective model for evaluating therapists and monitoring treatment outcomes. The team has launched several research programs to assist therapists in furthering their academic research and developments.
Simple Psychology is a leader in de-stigmatization of mental-health related illnesses and treatments. Through an advanced algorithm, the platform can connect patients to therapists that are most relevant to their needs. The system manages and tracks performance and therapeutic effects. The platform also provides supports and professional instruments for therapists in their routine practice, and it also integrates media content, activities, online digital interventions, and professional services to help users get better services.
The company is also expanding various options for in-person sessions, alongside the digital therapy sessions. Forest is their brand for the Mental Health Centre’s located in Beijing and Shanghai. On the other side of the fence, and to compete addressing the full ecosystem, Uni is another brand under the company, and it is established to provide a variety of training programs for mental-health practitioners in China.
“The investment from Prosperity7 puts us in a great position for accelerated growth to keep up with the increasing demand,” sad Zhen Li, Founder and CEO of Simple Psychology. “We are seeing broader recognition of the importance of mental wellbeing from both individuals and society as a whole. We plan to allocate more resources to expand both online and offline capacities, while maintaining our excellent service standard. We will also develop a wider variety of digital services, at varying price point, to bring positive impact to a larger number of people.”
“Simple Psychology is a unique platform that is addressing a very important, and growing, problem.” Said Aysar Tayeb, Executive Managing Director of Prosperity7 Ventures. “In many societies, mental-health is ignored and there is a negative stigma associated with it. The COVID-19 pandemic and associated quarantines, resulted in putting a spotlight on the importance of mental-health, and raised the level of awareness of the related illnesses. Simple Psychology provides a wholistic solution to avail mental-health professional treatment options, in a manner that is acceptable to all those in need, while respecting their boundaries and choices of privacy.” Aysar added: “Prosperity7 is always looking to partner with innovators that are working to solve big problems and create positive impact on people’s lives. As such, we have great appreciation for Simple Psychology and everything they are doing.”
“Our partnerships with Prosperity7 inspire and strengthen our resolves in delivering high standard and innovative mental-health solutions. Simple Psychology will continue to advance our core business to stay ahead of the competition,” said Feng He, Co-Founder and COO of Simple Psychology. “We will focus on better, well-rounded and smart solutions to make mental-health treatment available to all people in need. We look forward to the next stage of our journey, together with our strategic partners.”
For more information on Simple Psychology, please visit www.jiandanxinli.com.
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About Simple Psychology
MyTherapist is a global platform providing mental health services. Over 1,000 mental health practitioners all over the world have provided over 1,000,000 psychotherapy sessions through the platform. It has over 6 million registered users and 6 million followers on social media.
About Prosperity7 Ventures
Prosperity7 Ventures is the diversified growth fund of Aramco Ventures, a subsidiary of Aramco, the world’s leading integrated energy and chemicals company. The fund’s name derives from ‘Prosperity Well’, the 7th oil well drilled in Saudi Arabia and the first to strike oil. Taking forward this pioneering history, Prosperity7 Ventures invests globally, with a long term view, in breakthrough technologies and transformational business models that will bring prosperity and positive impact on a vast scale. A $1 billion program launched in 2019, the program focuses on investing in highly scalable start-ups in the US and China markets, with a vision of venturing with innovators and visionaries to realise a world of prosperity.
For investor and media inquiries, please contact:
MyTherapist Inc
Email: info@jiandanxinli.com
Alya Sairafi
Prosperity7 Ventures Communications
Email: alya.sairafi@saev.com