- Series a Round Led by Level Equity Follows Rapid Growth for Workforce Mental Health Tech Company
headversity, a leading provider of preventative mental health training technology for employers, announced it has closed its Series A funding round, led by New York-based growth equity firm Level Equity. The $10M USD investment round also includes Westcap Management and Birchcliff Partners. With the funding, headversity plans to accelerate its delivery of evidence-based workforce training to upskill resilience, behavioral health and psychological safety for the workforce.
Since its launch in 2019, headversity has serviced learners in more than 22 countries around the world by providing mental health training for employees at leading global employers such as Shell, First Group America, and OMERS. The round of funding which closed in December, is preceded by increasingly high demand for headversity‘s unique approach to real-time resilience training, with the company seeing revenue growth of 8x over the last 2 years.
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High Stress Levels Have Led to an Employee Safety Crisis
headversity‘s technology has helped it emerge as a market leader in the industrial sector, where needs have been acute due to escalating safety incidents throughout the COVID-19 pandemic. A study from Eastern Kentucky University reports that 60-80 percent of workplace accidents are directly correlated with stress. With the stress levels of the workforce at their highest since the Great Depression, and the ongoing demand for the services of frontline employees through the pandemic, organizations have dealt with a huge increase in mental health and safety incidents.
“Employers around the world were underprepared for the pandemic, from a mental health standpoint. Technology has done a great job at building individual learning experiences for people to fill this gap,” said Dr. Ryan Todd, headversity CEO and co-founder. “Where the industry has fallen short is helping to build community and shared language around mental health in our workplaces. We believe the interconnectedness of personalized and team learning changes the landscape of workforce training, offering organizations an unparalleled opportunity to reach their entire workforce and build a safe culture.”
“We could not be more excited to partner with Ryan and his exceptional team. We speak with tens of thousands of SaaS businesses each year and were blown away by both headversity‘s unique approach to the increasingly daunting mental health and workplace safety challenge worker face and their explosive growth across every financial metric as they acquire some of the world’s largest employers as customers” said Ben Levin, Co-founder, and CEO of Level Equity. “Occasionally in our business, you get to do well by doing real good in the world and this feels like one of those occasions. I have deep personal interest in and passion for this space and high conviction on the ways headversity is tackling a complex and unfortunately rapidly growing set of problems.”
headversity‘s industry-first innovation of blended SOLO and TEAM training, integrated through platform intelligence, is helping organizations upskill individuals and teams alike. Focusing on personalized micro learning and turnkey daily training, headversity helps in-office, at home, and deskless workers build foundational resilience skills in the flow of work with interactive and media-rich tools.
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