Digital hypnotherapy company raises US$12m to help women manage their health

An Australian digital hypnotherapy company has raised US$12m to expand its offerings and help women manage their health.

Mindset Health, which currently has three hypnotherapy apps dedicated to addressing irritable bowel syndrome (IBS), menopause and smoking cessation, aims to help people improve their health and live well with “underserved” health conditions.

Funding from this latest round, led by King River Capital, will support the growth and development of its current apps as well as the launch of new apps in response to market demand for solutions for anxiety, depression, sleep and chronic pain.

Additionally, the capital will allow the Australian company to continue its clinical research programmes in partnership with Baylor University and Monash University.

“The global demand for our hypnotherapy programmes – driven by healthcare practitioners, who recognise their effectiveness in supporting patients and recommend their use – has proven our thesis and demonstrated the deep market appetite for easy to use solutions that can help people manage and live well with underserved health conditions,” said Mindset Health co-founder, Alex Naoumidis. 

“This latest financing will support us to continue to meet that demand and in new areas with a broader product offering, as well as funding additional research programmes instrumental to producing high-quality digital programmes backed by clinical rigour.

“Our brains can influence our immune system, our heart health, our habits and our pain perception – our mission is to help unlock this potential of the mind to change how we think, feel and act.”

Referrals from doctors, dietitians and other providers are largely organic via word of mouth but are already driving significant growth, the founder explained.

Not only do healthcare providers act as a scaling growth channel, retrospective studies show that users who are referred by a healthcare practitioner are significantly more likely to adhere to the program long-term.

Studies have shown hypnosis-based therapy to be effective in helping to manage many chronic health conditions, including IBS, menopause and chronic pain.

“By automating hypnosis-based therapies, Mindset Health is utilising the very qualities that have made traditional approaches so successful – efficient scalability, on-demand availability, and clinical rigour – without the side effects, or the billion-dollar R&D price tag,” said Chris Barter, co-founder and partner of King River Capital.

“It’s a total game-changer in the way it’s helping people around the world take control of their health and successfully address a range of chronic conditions naturally and holistically.”