TEALE RAISES €10M TO BECOME THE EUROPEAN LEADER IN MENTAL HEALTH AND PUT AN END TO BURN-OUT IN THE WORKPLACE
A Series A funding of €10m for teale from Alter Equity (Fanny Picard), Bpifrance's Digital Venture fund (Véronique Jacq), followed by ISAI and Evolem, the company's longstanding funds.
This funding round is an important signal in Europe, where funding for the mental health sector lags far behind that in Anglo-Saxon countries and the 7 unicorns in the United States.
Mental health problems cost companies an average of €3,000 per employee per year in France.
Teale was created to help companies rise to this challenge, because a team that puts the well-being of its employees first is also a healthier company.
Two years after its launch, teale is recruiting and aims to conquer Europe.
Teale responds to the major challenge of mental health in the workplace
In March 2023, 44%* of employees said they were experiencing psychological distress and 28%* were suffering from burn-out. Today, mental health costs companies an average of €3,000** per year per employee, due to presenteeism, staff turnover and absenteeism.
Mental health has also become a major expectation of employees: 91% of them believe that the corporate culture should support their mental health, and 68% of millennials (aged 30-45) have left their jobs for reasons linked to their mental health.
Founded in 2021 by Julia Néel Biz, Geoffroy Verzat, Nicolas Merlaud and Gilles Rasigade, teale is the first mental health platform dedicated to employees. Its mission is to democratise this subject so that taking care of one's mental health is accessible to everyone, in a no-holds-barred, preventive and personalised way, and to build healthy organisations in the process.
Teale uses technology and cognitive and behavioural sciences to help people and organisations :
engage and support employees through personalised, one-to-one coaching,
transform corporate culture and prevent risks through collective support.
Fundraising to create a European leader
Following an initial fundraising round of €2m in May 2021, teale has completed this 2nd round of financing with Alter Equity, the pioneering impact fund headed by Fanny Picard, and Bpifrance via its Digital Venture fund headed by Véronique Jacq, followed by ISAI and Evolem, teale's historic funds.
More than 100 customers have chosen to offer teale's services to their teams, representing more than 500,000 employees. The start-up has brought together around a hundred qualified and experienced psychologists and psychiatrists.
Thanks to this new funding and its model based on technology that can be replicated abroad, teale will be able to develop its solution and go beyond national borders. Its aim is to create a real leader in this field and help employees and managers in European companies to achieve greater well-being. In particular, the company aims to expand its teams from 20 to 80 employees by 2024.
Technology and scientific expertise at the service of people
Teale has developed a global solution for businesses and was the first French company to launch a technological application. From the outset, it has encrypted all its data to ensure total confidentiality between the employer, the employee and itself.
Thanks to data and its algorithms, the company can identify weak signals upstream on a dashboard, and put in place relevant preventive actions with the intervention of teale partner psychologists (conferences, workshops, round tables, training courses, etc.).
Its 60 digital programmes and more than 1,000 pieces of content (videos, audio, etc.) cover all areas (professional and personal), including stress management, sleep, carers, relationship problems in the workplace, bereavement, infertility and, of course, preventing burn-out. These programmes are built around a network of over 100 experts, who are also available for one-to-one sessions.
In just two years, teale has created the world's largest self-therapy library and the largest database in the field of mental health, all by measuring the needs of employees and the impact of what teale offers them (anonymised questionnaires).
Results measured by a very positive ROI
Teale is making a significant contribution to the prevention of Psycho-Social Risks by helping to democratise knowledge and access to good mental health. The fact that the service is free for users removes one of the barriers to therapy.
Companies must be the driving force behind this change, especially as the results are measurable in terms of team effectiveness and company profitability: the ROI**** measured for mental health solutions implemented by companies is 5 times the investment made.
Studies show that the teale approach, combining 3 factors, can even increase to 11 times the initial investment when 3 key factors are combined: prevention, data to personalise the approach, and company-wide communication. These 3 factors are the pillars of teale's offering.
For teale, the best ROI is measured by the willingness of employees to use the platform, to find tools and solutions to the situations they face: 45% employee engagement on average. Three quarters of employee users say that thanks to teale they have made their first appointment with a psychologist and 90% of them say that thanks to teale they feel better in their head and in their work.
* étude OpinionWay (2023)
** Institut Sapiens, Deloitte (Mental health and employers, The case for investment, Malakoff Humanis (Baromètre 2021), McKinsey Health Institute (Addr
essing employee burnout: Are you solving the right problem?)
*** Rapport McKinsey (may 2022)
**** rapport Deloitte Mental health and employers (jan. 2020)
About teale
Teale was created in 2021, after a year of research and development, by Julia Néel Biz, Geoffroy Verzat, Nicolas Merlaud and Gilles Rasigade, with the aim of democratising mental health and making it the first holistic mental health platform dedicated to employees. Mental health costs companies €3,000 per employee per year. Teale puts technology and cognitive and behavioural sciences at the service of people and organisations in order to :
engage and support employees through individual coaching
transform culture and prevent risks through collective support
Two and a half years after its creation, teale represents a team of 25 and soon 80 employees, supported by around a hundred professionals. They serve more than 100 customers, mainly major accounts: These include Sanofi, Sncf, Carrefour, Bearing Point, EY, Cartier and BETC.
Teale has raised €2m in 2021 from ISAI, Kima Venture, Evolem and renowned BAs such as the founders of eFounders Teads, Chauffeur Privé, Meero, etc.
Press contact teale :
Estelle Monraisse, Alter'Com Conseil
06 60 41 81 52 - estelle@altercom-conseil.fr
À propos de Bpifrance et du fonds Digital Venture
Les investissements en fonds propres de Bpifrance sont opérés par Bpifrance Investissement. Bpifrance finance les entreprises - à chaque étape de leur développement – en crédit, en garantie et en fonds propres. Bpifrance les accompagne dans leurs projets d’innovation et à l’international. Bpifrance assure aussi, désormais leur activité export à travers une large gamme de produits. Conseil, université, mise en réseau et programme d’accélération à destination des startups, des PME et des ETI font également partie de l’offre proposée aux entrepreneurs.
Bpifrance Digital Venture est l’équipe en charge des investissements Venture dans les sociétés technologiques innovantes du secteur numérique. Elle accompagne aux stades de l’amorçage, et des Séries A et B, des sociétés technologiques ayant l’ambition de devenir des leaders internationaux sur leur marché. Avec 700M€ sous gestion, Bpifrance Digital Venture a investi dans plus de 110 entreprises et réalisé plus de 25 cessions depuis 2011. L’équipe a investi, entre autres, dans Talentsoft (Cegid), Netatmo (Legrand), Meilleurs Agents (Axel Springer), Cardiologs Technologies (Phillips), Manomano, Openclassrooms, Shippeo, Strapi, GitGuardian, Livestorm, Swan, Exotrail ou encore Alice&Bob.
Plus d’information sur : www.bpifrance.fr - https://presse.bpifrance.fr/
Suivez-nous sur Twitter : @Bpifrance - @BpifrancePresse
Contact presse :
Juliette Fontanillas - Bpifrance
06 72 76 08 09 - juliette.fontanillas@bpifrance.fr
A propos d’Alter Equity
Société de gestion indépendante, Alter Equity est née de la volonté de financer les transitions environnementales et sociales dont notre société a besoin vers une économie plus durable, plus généreuse, plus humaine et globalement plus responsable. Elle a été la première en France à soutenir l’intérêt général dans sa double dimension sociale et environnementale tout en recherchant un rendement financier rémunérant le risque pris par ses souscripteurs et le concept d’investissement à impact positif. Elle déploie actuellement son deuxième fonds de 110m€ en investissant des montants de 3 à 10 m€ au capital de startups européennes dont l’activité est utile aux personnes ou à l’environnement. Elle a également été la première société de gestion de fonds dans le non-côté posant comme condition à son investissement l’engagement dans une démarche RSE rigoureuse, requérant notamment de procéder à un bilan carbone et d’ouvrir le capital à l’ensemble des salariés.
Contact presse :
Fatine Diouri - La Nouvelle Agence pour Alter Equity
07 67 79 97 28 - fatine@lanouvelle-agence.com