"This recent capital raise will contribute to speeding up software development as the team strives to further develop their holistic wellness platform," Strove said in a statement.
Despite the current challenges associated with the funding market, Strove CEO Chris Bruchhausen is positive about the recent capital raise.
“We are excited to have closed our funding round in a challenging funding environment. This raise allows us to further develop our product and service offering as we strive towards our mission of improving the holistic well-being of employees around the world,” says Bruchhausen.
Strove is planning a substantial upgrade to its mental health offering with more content, cognitive behaviour therapy courses, and an in-app coaching feature. Other updates include launching more activity-tracking integrations and incorporating a recommendation engine.
"Covid has highlighted deteriorating employee wellbeing and a strong need for holistic wellbeing programs. We see a global corporate future where most companies provide group-based employee wellbeing programs as part of holistic employee benefits to support employees from the prevention phase. With strong C-level and execution to date, we know Strove will be a leading player in this market," says Koshu Kunii, general partner of Lifetime Ventures.