Irish startup Spectrum.Life receives €5M to revolutionize mental health services

The Irish business Spectrum.Life is revolutionizing the way mental health is treated by offering services for insurers, companies, employees, and students.

In a recent development, funding for Spectrum.Life totaled €5 million. With this financing, the company has now raised a total of €9 million. Act Venture Capital, a Dublin-based venture capital firm, led the investment round in Deciphex with significant support from both previous and new investors.

The additional funding will be used to expand and further develop the Spectrum.Life platform, including growing its team and introducing new tools and resources.

Spectrum offers personal Mental Health Services and open-ended therapy, as well as 24/7 access to limitless mental health and well-being assistance. The users of Life are in a good position for Life to continue growing quickly and have a lasting effect on their mental health and well-being.

Stephen Costello, CEO of Spectrum.Life, stated:

“We are happy to have the backing of ACT and our other investors as we continue to grow and expand our innovative mental health, wellbeing, and digital health products. This financing will enable us to provide our game-changing solutions to even more individuals and organizations, furthering our mission of making mental health and wellbeing support accessible to everyone.”

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‘’ We are happy to lead another round of investing into Spectrum Life, said Debbie Rennick, general partner at Act Venture Capital. We firmly believe in both this market opportunity and the Spectrum Life platform and team. The Company has experienced rapid development and success thus far, but the best is yet to come. We are delighted to support their further expansion with this investment since we think that their platform has the potential to have a big influence on people’s mental health and well-being all around the world.

Spectrum.Life was established in 2018 by Stuart McGoldrick, Dr. Sarah O’Neill, and Stephen Costello and has its headquarters in Dublin. It offers a wide range of holistic supports, such as financial guidance, open-ended therapy, digital clinics, mental health and wellbeing coaches, and employee benefits advisors.

The Dublin-based firm has distinguished itself from other providers of mental health and well-being. Spectrum.Life adopts a holistic end-to-end strategy to support people before, through, and after the crisis, in contrast to the bulk of existing corporate well-being products, which do not offer treatment or support for people’s mental health issues until they are in crisis.

Additionally, Spectrum The wellness of employees, students, higher education professionals, and partners continues to be positively impacted by Life, which places a strong emphasis on clinical efficacy. As many lives as possible are to be changed and protected by the company. Its solutions serve over 4 million users and 2500 clients in the UK and Ireland.

Image Credit: Spectrum.Life