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Wave Life Raises US$6M Financing to Increase Mental Health Access For Gen Z

wave life sciences 6 million seed funding

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Wave Life, the science-backed mental health platform aimed at Gen Z, has completed a $6 million seed investment led by Santé Ventures. Hannah Grey, Joyance Capital, Gaingels, and Telocity Ventures have also contributed.

Wave Life will be able to refine their product offering and expand further into the employer space, where mental health has become critical for employee satisfaction and retention, thanks to the newly raised capital.

For Generation Z, Wave Life makes managing mental health more personal, less tedious, and more effective. Users can access emotional wellbeing coaching and science-backed techniques on the platform to help them survive and thrive both in and out of the workplace.

The company’s innovative approach to mental health prioritizes the unique needs and experiences of this younger generation, assisting them in laying the groundwork for long-term mental health.

According to the U.S. Bureau of Labor Statistics, Gen Z, born between 1997 and 2012, is the youngest working generation and is expected to make up 30% of the workforce by 2030. According to recent studies, Gen Z adults are the most stressed generation. The COVID-19 pandemic has only exacerbated pre-existing issues like remote work, job insecurity, the impact of social media, and geopolitical events.

Wave Life is a mental health platform that uses the most recent advances in brain science, technology, and human connection to make emotional well-being accessible and affordable to all. Therapy is not for everyone, either because it is too expensive to find high-quality care or because it isn’t in line with a generation that wants personalized, easy access. National Board Certified Health and Wellness Coaches from Wave offer convenient on-demand coaching and support.

Furthermore, the Wave app offers continuous measurement that encourages introspection and vulnerability, allowing users to better understand themselves.

The app includes personalized interactive content that helps users understand the science and psychology behind their actions and emotions, as well as science-backed quizzes to determine emotional strengths and areas that require attention.

Employers can benefit from this multi-tiered, stepped-care approach by teaching their employees skills that lead to better communication, engagement, and a greater sense of belonging in the workplace, resulting in more satisfied employees.

With recent reports indicating that 40% of Gen Z employees prefer to leave their current jobs, CEOs and HR professionals require assistance with retention strategies.

Wave Life is the science-backed mental health platform combining brain science, technology, and human connection to make the process of dealing with emotions and feelings more personal, more usable, and more effective.

Created by clinical psychologist Dr. Sarah Adler, Clinical Associate Professor of Psychiatry at Stanford University, the Wave Life platform supports Gen Z in and out of the workplace with affordable, accessible, and relatable mental health support.

Founded in 2006, Santé Ventures is a specialized healthcare and life sciences investment firm with approximately $800M in capital under management. The firm invests in early-stage companies developing innovative new medical technologies, biotechnologies, and digitally enabled healthcare services.

Recent Santé successes include Farapulse (Boston Scientific), Claret Medical (Boston Scientific), TVA Medical (Becton Dickinson), Millipede Medical (Boston Scientific), Molecular Templates (MTEM), AbVitro (Celgene), and Explorys (IBM Corp). Santé invests nationally and has offices in Austin, TX, and Boston, MA.

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