(Reuters) – The COVID-19 pandemic has put the spotlight on mental health tech startups, globally marking a record year for venture capital investment in the sector, according to data firm PitchBook.
PitchBook data showed 146 deals raked in nearly $1.6 billion in venture capital investments as of Dec. 10. Last year the total was $893 million from 111 deals. A decade ago there were only 3 deals, worth $6.6 million.
The investments come as employers are increasingly seen as customers for these startups. Consulting firm McKinsey reported last month that 52% of companies offer mental-health and bereavement counseling.