Spectrum.Life raises €5m led by Act Venture Capital to scale its wellbeing platform
Act Venture Capital led the €5m funding round to support product development and team expansion.
≈ £4.4M at €1 = £0.8860 on 10 Feb 2023
Irish digital health platform providing mental health and wellbeing services for insurers, employers, employees, and students.
Dublin-based health technology provider Spectrum.Life has secured €5m in funding to scale its platform and expand its team. The investment round was led by Act Venture Capital, with participation from new and existing backers. The capital will be directed towards product development and team expansion, building on the company's existing mental health support services for corporate and higher education clients.
Founded in 2018, the startup offers clinical-grade mental health and wellbeing solutions, including digital clinics and therapy support. The fresh injection of capital follows previous funding rounds and supports the company's continued growth across the UK and Ireland.
From the founder
"We are thrilled to have the support of ACT and our other investors as we continue to grow and expand our innovative mental health, wellbeing and digital health offerings"
Stephen Costello
CEO at Spectrum.Life
Investor perspective
"We are delighted to lead another round of funding into Spectrum Life. We have strong conviction in this market opportunity and in the Spectrum Life team and platform. The Company’s strong growth and success to date is only the beginning of a great future. We believe that their platform has the potential to make a significant impact on the mental health and wellbeing of individuals around the world, and we are proud to support their further growth with this investment."
Debbie Rennick
General Partner, Act Venture Capital
Use of funds
- 01Continue product development
- 02Grow the team
Investors
Categories
About the company
Spectrum.Life
Digital health platform providing mental health and wellbeing services.