Bangalore-based YourDOST, an online emotional wellness platform, has raised $1 Mn in Pre Series A funding from venture capital firm SAIF Partners. Its existing investors Venk Krishnan (NuVentures), Subbarao Telidevara (NuVentures), Phanindra Sama (Redbus), Aprameya Radhakrishna (TaxiForSure), Paula Mariwala (Seedfund), Vibhu Garg (Unicommerce), and Gaurav Bhalotia (Flipkart), also participated in the round.
With this, the startup has raised a total of $1.2 Mn. Earlier in November 2015, it raised close to $400K.
Founded in 2014 by Richa Singh in partnership with Puneet Manuja and Prakhar Verma, YourDOST is a tech startup that aims to establish a unique platform for mental well being and emotional support. The startup connects experts to people who look to discuss any kind of emotional issues while providing them required anonymity.
With the new round of funding, YourDOST will strategically rope in senior professionals from the industry in key leadership positions. It will also look to expand its operations and to reach out to more people.
Richa Singh, founder of YourDOST, said, “Dealing with societal pressure, compulsion to perform and excel at work, family and marital issues, stress of studies, constant lifestyle comparison with the peer group due to overexposure to social media and several other factors have led to severe disturbances in our emotional stability. While the stress is on a constant rise, discussing it openly or dealing with it medically remains a taboo in our country.”
YourDOST aims to create awareness and reduce the stigma associated with mental wellness in our society. The service is available for free through web portal and mobile app. Users can also live chat, find answers over email or book an appointment with the expert.
The startup claims to have over 300 experts on its platforms who conduct roughly 800 one-on-one sessions every day. It says that approximately 4,00,000 people pan-India have already sought guidance and emotional counselling on YourDOST since it went live in 2014.
Mridul Arora, Principal, SAIF Partners, said, “With it’s strong focus on quality supply and maintaining user anonymity, YourDOST presents a unique proposition for consumers to overcome the prevailing hesitation associated with openly talking about mental issues. With this investment, SAIF continues to identify and nurture businesses, right from seed stage/pre-Series A to beyond.”
YourDOST was among the top 5 startups that pitched at our event, StartupPulse, held in Bangalore in May 2015.
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