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The pandemic has inevitably caused a rising amount of stress and other mental wellness issues, exacerbated by the growing emphasis on virtual identity and an online presence. Uncertainty and isolation have resulted in 36% of remote workers in South East Asia dealing with some form of mental wellness issue. Geopolitical instability has contributed to this as well. Many developing countries find it difficult to keep up due to the lack of professionals in these markets. With only 146 million Southeast Asians diagnosed with depression and anxiety, it is clear that many people suffering from these issues are untreated, be it due to lack of access to affordable healthcare or a deep-rooted stigma of mental wellness.
Safe Space aims to create an integrated platform where people can feel comfortable in seeking help for their mental wellness issues.
Safe Space has received great positive reviews from its clients, substantiated by a very impressive and one of the highest ARPUs among its competitors at $240 per month.
B2C - Safe Space onboards their therapists onto their platform and takes a commission off of appointments made on the platform whilst providing certain benefits to them such as covering their insurance.
The Mental Wellness Landscape
While an increasing number of competitors are emerging in the Southeast Asian Mental Wellness market, Safe Space differentiates themselves through their high-quality B2B services, in tangent with their large market share of the B2C market, being one of the longest lasting mental wellness startups.
Venture funding of USD$1.5bn was invested into the mental wellness market in 2020 as the rates of depression and anxiety skyrocketed.
Go-to Market Strategy
Safe Space is raising a SGD$500k bridging round convertible note, focusing on market expansion in SEA, US and EU to hit $XM in cumulative revenue.
Safe Space is also looking for strategic partners in the form of mentors and industry leaders to guide them and open doors to the APAC, EU and USA regions as well as the healthcare and telemedicine sectors.
Use of Funds