A new $16 million Series A funding round has been raised by French startup moka.care. Mental well-being is a priority for the company. It has a full service that sits between employees and HR departments.
Left Lane Capital is leading the funding round. Singular is participating again. The company is getting investment for the first time from a VC firm and a player in the NBA.
Work is often mentioned when people are feeling down. Mental health is becoming a key issue for companies of all sizes. There are many reasons why that is the case.
Companies want to create a positive company culture for their employees. It doesn't make sense to buy a pool table and display posters on the walls. Employees want to know that they can get help when they need it.
Providing moka.care as a benefit to employees means that you care about their mental well-being. It is a good signal and a nice perk.
Employees who feel engaged at work are more productive. Making mental well-being a priority is common sense, but it also makes sense at a business level.
It is difficult to find new employees in the tech industry. Improving employee retention is an important metric for HR departments.
moka.care aims to align everyone's interests. The first step is the most difficult one if you want to talk about your mental health. If people find the service useful and interact with it, the startup will generate more revenue. The startup wants to make it easy to interact with its service.
Mental health content can be accessed through moka.care. Employees can use the service for their own care.
The company's team of psychologists help you understand your situation when employees first reach out. The startup can send you some recommendations for practitioners that work with the platform, it can be a psychologist, a certified coach or a licensed therapist.
You can talk with a mental health professional after that. If it becomes a regular treatment, some sessions will be free and you may start paying.
The HR departments can spy on their employees. Managers and leaders can improve their knowledge on mental well-being through group sessions offered by moka.care.
15,000 employees can access moka.care if 100 companies sign up so far. Spendesk, Qonto, ManoMano, RipCurl, Volcom, L, and Engie are some of the clients. The company plans to expand into new European markets with today's funding round.