Revery Raises $2 Mn Pre-Seed Funding Led By Sequoia Capital India's Surge Drawing on mobile game concepts, Revery wants to make therapy interactive and fun, helping the focus on mental health to become part of a daily lifestyle
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Gamified wellness company Revery on Tuesday announced $2 million in pre-seed funding led by Surge, a scale-up program by Sequoia Capital India for startups in India and Southeast Asia.
Revery is in beta stealth and has plans to launch globally later this year, starting with a focus on the US market.
Founders Tammie Siew and Khoa Tran started Revery to help others redefine the management of mental wellbeing by combining cognitive behavioral therapy with gameplay and technology.
"Many people do not have the time or resources to access quality sleep and mental health care like I did. At Revery, we're committed to raising awareness about the critical role that sleep plays in determining our wellbeing and how we can take charge of our health," said Khoa Tran, co-founder, and chief technology officer, Revery.
Drawing on mobile game concepts, Revery wants to make therapy interactive and fun, helping the focus on mental health to become part of a daily lifestyle.
"Roughly two out of three adults feel that they don't sleep well, and there are less than 1,000 sleep therapists across the globe. We believe that tapping into the growing $90 billion mobile gaming market as a delivery vehicle is, pun intended, a game-changer. This fundraise is the first step in scaling therapy for millions around the world who need it," shared Tammie Siew, co-founder, and chief executive officer, Revery.
Testament to Revery's approach to addressing mental wellness is its team of expert advisors and investors that occupy the unique space between healthcare and gaming sectors. The medical advisory team includes leading behavioral sleep medicine expert, Dr. Fiona Barwick, clinical associate professor in the Department of Psychiatry and Behavioral Sciences - Sleep Medicine Division at Stanford Medical; Dr. Stanley Liu, director of the Stanford Sleep Surgery Fellowship; and Dr. Ryan Kelly, a researcher and acclaimed pioneer in video game research and development, the company said.
"We are excited about the growing mental wellness market, and believe that Revery's unique mobile game-based approach has the opportunity to create immense impact," commented Jenny Lee, managing partner, GGV Capital. "We are happy to back such a mission-driven team in this space."
The fundraise is led by Sequoia Capital India's Surge and includes participation from notable venture funds Pascal Capital, GGV Capital, zVentures, and Patron. Angel investors include tech guru Kunal Shah, founder of one of India's fastest growing unicorn startups, CRED; Sai Srinivas, founder of Mobile Premier League (MPL); Juha Paananen; Carolin Krenzer; Albert Lee, who previously co-founded MyFitnessPal before it sold to UnderArmour in 2015; and Josh Lee.
"We know that mental wellness is a major concern for youth and millennials, and that gamification helps increase engagement and efficacy. As the world's leading lifestyle brand for gamers, most of whom are youth and millennials, Razer is supportive of Revery's efforts to gamify therapy and improve lives," added Cho Weihao, investment director, Razer zVentures.
