Total amount raised
$1.6 Millions
Latest funding date
1/1/2022
Location
YourDOST has successfully raised funding through multiple rounds, with the latest being a Venture - Series Unknown round. The platform connects users with psychologists and counselors for personal, professional, and academic guidance.
Keep reading to explore the intricacies of YourDOST's fundraising journey and the investors backing this innovative platform.
What Is YourDOST?
Founded on December 15, 2014, YourDOST is an online counseling platform based in Bangalore, Karnataka, India. The company connects users with psychologists and counselors for personal, professional, and academic guidance.
Founded by Prakhar Verma, Puneet Manuja, Richa Singh, and Satyajeet Nandekar, YourDOST offers various services, including chat sessions, voice/video calls, face-to-face sessions, and dedicated coaches. The platform aims to support users in coping with various issues and promoting self-improvement.
With a team of 11-50 employees, YourDOST continues to grow, providing essential mental health support to its users.
How Much Funding Has YourDOST Raised?
- Seed Round
- Amount Raised: $400,000
- Date: September 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial growth and development of the platform.
- Seed Round
- Amount Raised: $1.2 million
- Date: June 27, 2016
- Lead Investors: Elevation Capital
- Valuation at Round: $5.38 million
- Motivation Behind the Round: To scale operations, hire senior executives, and set up a research division.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: January 1, 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's reach and capabilities in providing online counseling and psychological support services.
Total Amount Raised: $1.6 million
Current Valuation: Not publicly disclosed
Key Investors
- SAIF Partners
- Details: SAIF Partners is a leading private equity firm that led the $1.2 million funding round for YourDOST. They have a strong presence in the venture capital space, particularly in Asia.
- Investment Focus Areas: Technology, consumer products, healthcare.
- Notable Investments: Paytm, MakeMyTrip, Swiggy.
- Elevation Capital
- Details: Elevation Capital is a prominent venture capital firm that invested in YourDOST during its seed round. They focus on early-stage investments and have a significant portfolio in the tech sector.
- Investment Focus Areas: Technology, internet, consumer services.
- Notable Investments: Paytm, UrbanClap, FirstCry.
- Phanindra Sama
- Details: Phanindra Sama is the co-founder of redBus, a leading online bus ticketing platform in India. He is an angel investor with a keen interest in tech startups.
- Investment Focus Areas: Technology, internet-based startups.
- Notable Investments: redBus.
- Aprameya Radhakrishna
- Details: Aprameya Radhakrishna is the co-founder of TaxiForSure, a popular cab aggregator service in India. He is known for his investments in the tech and transportation sectors.
- Investment Focus Areas: Technology, transportation.
- Notable Investments: TaxiForSure.
- Subba Rao Telidevara
- Details: Subba Rao Telidevara is the founder of LotusPool Capital Pool and a former partner at the private equity firm Actis. He has extensive experience in capital investments.
- Investment Focus Areas: Private equity, capital investments.
- Notable Investments: LotusPool Capital Pool.
What's Next for YourDOST?
As YourDOST looks to the future, the opportunities are vast. The platform is poised to scale operations and expand its team, aiming to serve an even larger user base. With the growing demand for mental health services, YourDOST's potential to partner with B2B clients for employee wellness programs is significant. The market potential is immense, with millions in India experiencing stress and mental health issues.
Future fundraising seems likely as the company continues to grow. The focus on scientific and personalized services could attract further investment. However, challenges such as the stigma around mental health and competition from other startups remain. Ensuring the quality and confidentiality of services will be crucial as YourDOST navigates these hurdles.
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