Cuéntame, the startup that promotes the mental health of employees in Latin America, raises a pre-seed funding round for $1.3M dollars, which will allow it to strengthen its expansion plan, mainly in Mexico, Colombia and Chile, and establish itself as a future mental health unicorn in Latin America.
“We want to continue with our mission to eliminate all barriers to mental health and contribute to the well-being of workers in LatAm companies; this capital raised will enable us to expand faster in the region. Those organizations that are committed to mental health as a strategic pillar of their culture are the ones that position themselves among the new generations as the best places to work”, emphasized Regina Athié, CEO and co-founder of Cuéntame.
The Mexican platform, based on machine learning, allows organizations to take action to prevent turnover due to burnout, increase engagement in the workplace and promote a culture of well-being that inspires and motivates people in their respective companies, because they care for them and their families.
Cuéntame began operations in 2019 and has transformed the experience of more than 64 thousand collaborators and their family members in 30 high-impact organizations such as Nestlé, Kavak, and Bitso. Likewise, it has influenced the reduction of the turnover of key talent by up to 60% and increased the well-being of workers in the companies with which the startup works by 40%.
“Our users range from growing startups to multinational corporations. We understand their priorities, we provide a personalized experience to each collaborator and we offer a variety of mental health tools: soft skills training, such as emotional intelligence, organization of work time, meditation, mindfulness, and online psychological therapy with certiﬁed psychologists in a safe and conﬁdential environment”, explains Regina Athié.
The investment funds that participated in this pre-seed investment are Impacta VC as lead investor, CerraCap Venture, Integra Groupe, Colectivo Jaguara, 99 Startups, Lotux, Fondation Botnar & New Ventures, Pareto20, Ulua VC, Incisive and Investo; in addition to some angel investors: Loreanne García, Co-founder of Kavak, the first unicorn in Mexico; Raúl Arguelles, former director of HR at Walmart, and Adriana Tortajada, director of 1200 VC investment fund.
Importance of mental health in the work environment
It is estimated that one in four workers in companies will develop a mental health disorder that impacts business, however, only 25% will be able to use an adequate tool to treat it.
Thanks to its data-driven model and its recommendation algorithm, Cuéntame provides the right tool for each person, according to their level of well-being and moment of life.
“We understand that we all have different emotional needs, even on the same day. We promote mental health in different user archetypes, from operational staff to administrative or digital profiles. In addition, we use anonymous data that the HR team has available to align the strategy to the factors that impact the people’s life and business”, highlighted the co-founder of Cuéntame.
The Mexican entrepreneur points out that if mental health is not addressed, presenteeism, loss of productivity, and work absenteeism are caused. Only this last factor impacted companies with 85 billion pesos in 2020, 10% more than in 2017, according to Adecco Group.
“There may be stronger complications, and become a very costly pandemic for governments and society”, warns Regina Athié. In fact, the WHO has revealed that each year anxiety disorders and other conditions cost around a trillion dollars in lost productivity to the global economy. Furthermore, by 2030 poor mental health is projected to be the leading cause of disability in the world.
In Mexico, mental disorders increased between 20% and 30% due to the Covid-19 pandemic, and problems such as depression, anxiety, and obsessive-compulsive disorders worsened. For this reason, it is important to have preventive solutions that intervene in an effective and scalable way, that promote healthier and more productive work environments in organizations.
It should be noted that 70% of Cuéntame users have accessed mental health tools for the first time, thanks to the managers who enabled this solution in their organizations, and who are now part of this social impact network that favorably affects the collaborators, their families, and their communities. For more information, you can visit its website: https://sicuentame.com/