Joyable Inc. Executive Summary

Joyable Inc. has raised over $8 million in Series. A venture funding to give people diagnosed with mental health issues such as social anxiety a new therapeutic option. San Francisco Company’s app gives users a series of interactive cognitive behavior therapy exercises. They can complete when they have time. This exercise can help them overcome social anxiety. There are many outcomes in doing this exercise, for example: going on a date or even speaking up at work. Going to see a therapist in person is often difficult for people who need mental health help, especially if what ails them is social anxiety. Cognitive behavior therapy sessions can be costly, not covered by insurance and hard to schedule. One third of the U.S population lives in a mental-health-help shortage area, a kind of therapy desert, according to the National Institute of Mental Health.
Joyable matches its users with “peer coaches, “not licensed therapists, who give encouragement and remind users to keep working toward their goals and not to abandon their therapy efforts. Joyable Chief Executive Pete Shalek said the startup would soon release native mobile apps that users can access when they aren’t connected with Wi-Fi, such as when they are commuting. The company will now use the money for research and development, and new hires to address multiple mental-health problems in the future. People rarely have social anxiety alone. So the goal is that they are looking at how to help people with depression, and other mental health issues that have “co-morbidity” with social