The cognitive behavioral therapy (CBT)-based coaching app eaze, a Berlin-based HealthTech coaching app startup, has closed a pre-seed investment round of €1.7 million.
Every second European suffers from sleep problems. However, the currently available solutions do not address the root causes. Instead, they offer temporary relief from the worst symptoms instead of long-term improvements and often come with undesirable side effects. Industry experts agree that CBT is currently the single most effective tool to combat sleep problems. Unfortunately, there is a lack of qualified specialist practitioners in this field.
The social impact fund of Redstone and EnjoyVenture is the primary investor in this round. Along with APX (Porsche and Axel Springer) and several well-known angel investors, including Philipp Man, co-founder of the luxury used watch marketplace Chronext, and Anton Rummel, co-founder of the corporate expenses platform Moss, they were joined by Barmenia Next Strategies, the healthtech investor behind the major German insurance group.
The money raised will go toward creating effective and appropriate AI technologies as well as customer acquisition, brand recognition, and platform expansion.
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Tim Seifferth, CEO of eaze, stated: “Those with sleep issues experience significant negative effects on their productivity, mental wellness, and long-term health. According to the American think tank Rand Corporation, decreased workplace productivity and sick days brought on by sleep issues cost our economy and the public health system more than €60 billion. This problem has also been highlighted by Barmenia Insurance Group. Targeting the psychological and behavioral roots of sleep issues is the only proven method of treatment, and as a result, this is a permanent fix. By using an intelligent chat app, every user of our smart solution has hyper-personalized access to a licensed sleep psychologist.”
With its smart coaching system, Eaze has integrated all necessary resources, combining tailored, highly scalable online coaching from certified sleep experts with data-driven treatment recommendations.
Less than 18 months after starting the company, the founding team, which consists of CEO Tim Seifferth, COO Timur Nohut, and CPO Noah Nawara, as well as sleep expert Anne-Sophie Fluri, has accomplished significant milestones: they have onboarded more than 1,000 paying users and capitalize on a high retention rate and a strong willingness to pay.
Lead investor Lucas Paul from Redstone thinks that eaze can address this ever-expanding health issue, which has serious negative impacts on its sufferers, in a scalable manner. It is impossible to overstate the effects that sleep issues have on both the economy and our health. The eaze founding team has succeeded in creating a clever app that satisfies the demand for individualized instruction, and the clever tech stack in the backend provides tremendous scaling prospects. We invest in strategies to enhance individual well-being through our Social Impact Fund, advancing society as a whole. We are confident that eaze can significantly enhance consumers’ physical and mental health in a long-lasting and sustainable manner.
