The owner and operator of the BEACON™ digital mental health treatment platform yesterday announced the closing of a Series A investment bringing total investment to over $20 million. Investors include TELUS Ventures, Manulife, Elkland Capital, Strauss Interests, and several private investors.
Launched in 2016 as an in-clinic method for delivery and measurement of Cognitive Behavioural Therapy (CBT), BEACON became a fully digital experience in 2017. It is a platform that provides individuals with personalized CBT, integrating the one-on-one support of a registered mental health professional. Available Canada-wide in English and French, BEACON aims to provide people and populations with access to effective mental health care in ways that overcome barriers to care.
"BEACON has not only demonstrated successful treatment outcomes in a way that is accessible, major employers and insurers nation-wide have adopted it into their programs as a way to affordably provide mental health care," says Sam Duboc, Chair and CEO of MindBeacon Group. "With the support of our investors, we will continue to enhance our offerings and increase our reach to the majority of Canadians who need help and are not getting it today."
With the continuous support of their therapist, individuals complete a full course of personalized CBT care from anywhere and at anytime.
"Developing innovative smart technologies has often been cited as vital to enhancing the efficiency and quality of mental healthcare systems and services, and in Canada we see a clear need for more support," said Rich Osborn, managing partner, TELUS Ventures. "BEACON is unique in its approach bringing together current technology and clinical expertise to bridge the current gaps and we look forward to working with MindBeacon as they help transform how mental healthcare is accessed in this country."