French health insurance company Alan is now jumping into the employee mental wellness space with the launch of its new digital health offering Alan Mind. The new launch is aided by the purchase of American digital behavioral health company Jour for $20 million.
The new tool will include patient education content and tools focused on helping users practice behavioral and cognitive therapy techniques, according to a press release translated from French. Users who feel they need to talk to a trained specialist will also be able to use the platform to get in touch with an Alan psychologist.
The company will work with HR departments to provide anonymous reports and follow-ups. The tool is designed to help company’s pinpoint themes within the organization and set up preventative workshops.
As part of the acquisition, Jour’s digital assets will be integrated into Alan Mind. Jour focuses on mindfulness and currently offers users a journaling experience. Users are also able to tap into guided journeys created by a clinician. In 2019, the company scored $1.8 million in seed funding from True Ventures.
WHY IT MATTERS
The company is pitching this new program as a way to help address the growing need for mental health services.
Across the globe, rates of anxiety, depression and other mental health issues have skyrocketed during COVID-19. In France, where Alan Mind will operate, individuals with anxiety symptoms increased from 17.3% to 20.1% during the pandemic, according to a study published in Globalization and Health.
According to Civio, France has roughly 22.87 psychiatrists per 100,000 inhabitants.
THE LARGER TREND
The employee mental health market is booming. Earlier this week, employer behavioral coaching service BetterUp announced the acquisition of two data-focused software companies, Motive and Impraise. The company is also looking to the European market for expansion.
Another player in the space is Ginger, which offers on-demand behavioral health coaching and video therapy. Ginger took home $100 million in a Series E funding round.
Employer-focused mental health tool Modern Health scored $74 million in Series D funding in February, and behavioral-health-benefits platform Lyra scooped up $187 million Series E in January.