The scary numbers that aren’t being spoken about in 2020 and the support that's out there

It’s November, or Movember for me; the first time that I’ve endeavoured to grow a moustache. Working at home, not travelling, not seeing another person - there wasn’t really a better time to get involved with a team Movember competition. Check out some pictures of our efforts this month and also see how our fundraising efforts have gone at PwC at the end of this article. However, if I can get five minutes of your time there is something I’d like to share with you first.

The real reason I wanted to get involved with Movember this year is because of a topic I feel doesn’t have the voice it deserves. There are some scary numbers coming out of 2020 that are not getting enough publicity and that is in relation to mental health and suicide. Suicide is the single biggest killer of men under 45 - a harsh reality that seems almost so unrealistic to be a fact. In fact globally, on average, one man dies by suicide every minute of every day.

Men accounted for three-quarters of UK suicide deaths registered in 2019 and alarmingly, the male suicide rate in 2019 of 16.9 deaths per 100,000 people is the highest its been since 2000 (Sky News). This was pre-pandemic.

The pandemic has pushed this further, with paramedics in London now being sent to 40 suicides or attempted suicides a day – double the number a year ago (Evening Standard). So if 2019 was the highest suicide rate for nearly two decades, it doesn’t seem to spell good news for how 2020 may eventually turn out. 

Further evidence corroborates this as it was found that the majority of people who run their own business confirmed that COVID-19 has had a detrimental effect to their own mental well being, according to the PwC Raise | Ventures latest Founder Survey being released next month.

What help is out there?

So at a time where the numbers are taking a dangerous spiral, I have dug into the help that is readily available. Confirmed by Dealroom, digital mental health and wellness tools are growing in popularity, and are helping to break down the stigma relating to mental health.

New technology and attitude shifts are providing opportunities to tackle this growing problem such as Teletherapy tools that can now help clinicians track patients' mental health, while innovative uses of virtual reality are being used for mental health diagnoses. Consumers’ anxiety and meditation platforms have gone mainstream, and friendly AI-driven chatbots can track symptoms, tackle loneliness, offer therapeutic advice and help to connect users to the appropriate medical professionals.

From sleep disorders, meditation, and therapeutics, I’ve broken down some of the main categories within the digital mental health and wellness landscape to find some of the solutions I believe can have the greatest positive impact on mental health.

Meditation - Global funding of ￡334m 

The benefits of meditation are extensive and backed by science. The mental health benefits of meditation include better focus and concentration, improved self-awareness and self-esteem, lower levels of stress and anxiety, and fostering kindness (Insider).

Two apps I like in particular are Headspace and Meditopia. PwC recently purchased Headspace for all of their UK employees and so I have had the opportunity to test it personally (City A.M.). Whether your goal is to release stress, control your emotions, learn yoga or sleep better, Headspace has you covered. Headspace announced a $93m Series C in February led by Blisce and is the most scientifically advanced digital mindfulness product in the market. The company continues to lead the industry in efforts to scientifically validate the benefits of mindfulness and meditation.

Meditopia, a meditation app that helps users reduce stress, sleep well, build mental resilience, and experience long-term healing, secured a $15 million Series A investment co-led by Creandum and Highland Europe (Crunchbase). The German start-up works with trained therapists and psychologists to create a more personalised mindfulness journey, and has supported over 14 million members to date.

Corporate wellness - Global funding of ￡512m

With working from home becoming the theme of 2020 (and 'WFH' now being added to the Oxford Dictionary!), corporates have come under increasing pressure to ensure the wellness of their employees is supported whilst working away from the office. The perception of high quality corporate wellness has changed from a nice to have employment benefit, to a ‘must have’ in the workplace, placing high up the agenda for C-suites. 

London-based Unmind raised a $10 million Series A in February, led by Project A and Felix Capital, to bring its mental health platform to the workplace (Tech.EU). Unmind promotes a stigma-free approach to mental health with a business focussed approach: ‘what’s measured is managed’. The company is now supporting employees in more than 50 countries, and over 350,000 people have access to its services. Customers include UK businesses such as John Lewis & Partners, ASOS, Just Eat, and British Airways.

Whilst Unmind has first mover advantage in the UK, there are some heavily funded competitors in the States such as Lyra Health operating in a similar space. More companies and solutions will no doubt be coming to market as a result of this pandemic, as we face a cultural shift towards further remote working capabilities.

Digital therapeutics - Global funding of ￡809m

With deteriorating mental health growing in prominence, more solutions are demanded to put the correct support in place. Digital therapeutics allow individuals remote access to therapeutic interventions to prevent, manage, or treat a medical disorder. This is an area of the wellness landscape that has rapidly accelerated in 2020 as a result of the pandemic, with changes likely to remain going forward.

Ieso Digital Health is a Cambridge based early stage business who provide evidence-based psychological therapies. Ieso’s aim is to become the largest provider of online mental healthcare, and were backed by the likes of Draper Esprit in an ￡18m Series A in late 2017. Their support aims to treat anxiety, stress, depression, and many more mental health problems through online therapy.

Special shout out to Strava

In a year where we seem to have been locked within the same four walls, it’s really important to remain physically active. Many people find that physical activity helps them maintain positive mental health (Mind) and there is one app that I couldn’t recommend more.

Designed by athletes, Strava connect millions of runners and cyclists through the sports they love. Strava has 70 million members, with presence in 195 countries and this month raised a $110m Series F led by TCV and Sequoia (TechCrunch) in a month that also saw them add more than two million new ‘athletes’.

I never thought I would be saying this but I genuinely wouldn’t be cycling without Strava, and I think those close to me are now tired of hearing ‘if it’s not on Strava, it doesn’t count!’. Strava have really nailed the running and cycling community feel of fitness, motivating you to keep moving and continue pushing yourself - it won’t be long until we see similar market leaders for activities such as weight lifting.

The PwC Raise | Ventures efforts to support

The purpose of pulling this together was the hope of getting some very serious numbers in more conversations. The other conversations that will no doubt be going on in the background are about some of the ‘tash’ efforts in the team. PwC has now raised over ￡64,000 to increase awareness this Movember for all the dads, brothers, sons and mates in our lives and I’m proud to have supported this! 

If you would like to speak more on any of the subjects raised above, I am always available to speak to. I am firmly behind the #AskTwice campaign that has been making a strong movement this month - too many people with mental health problems are made to feel isolated and ashamed. It’s time to support and change the way we all think and act about mental health.

For now, I leave you with some great pictures that will hopefully crack a few smiles and laughs!