UK based tech startup Moodbeam has developed a wristband that tracks your mood. With the goal to stimulate real conversations Moodbeam hopes to encourage people to reflect on their mental wellbeing as well as of those they care about most.
The wearable connects to a mobile app and website which record and exhibit data collected via the device. Moodbeam will prompt wearers to log how they feel at set times throughout the day. Users press a button to log how they’re feeling, yellow for positive and blue for unhappy. Haptic feedback confirms button pressed.
Predominantly aimed at organisations interested in the mental wellbeing of their employees, Moodbeam dashboard charts the happiness of individuals and teams each working day, making it possible for businesses to address situations in real time. It’s daily progress and a tool for self- organisational awareness.
With the help of happiness scores captured for teams, individuals and the organistaion as a whole, businesses can compare and self-evaluate.
The app was inspired by a seven-year-old girl struggling to deal with a tough situation at school, whose mother, co-founder of Moodbeam, Christina Colmer McHugh, wanted to create something that would help her track her daughter’s moods when they were apart.
The app is now being used by individuals to assess motivation, pain, emotional wellbeing and general happiness, as well as by big and small companies to gauge employees’ mental well-being and motivation.
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 December 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 year that 52% of companies now offer mental-health and bereavement counseling.