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Irish-Founded Woebot Secures $9.5M From Pharma Giant Bayer

Mar 15, 2022•over 3 years ago

Amount Raised

$9.5 Million

San Francisco

Description

Irish-founded start-up Woebot, a company that has developed a therapeutic chatbot, has secured $9.5 million (€8.65 million) from the investment arm of pharma giant Bayer.

Company Information

Company

Woebot

Location

San Francisco, California, United States

About

The stake in Woebot marks Leaps by Bayer’s firs investment in the mental health space and brings to $123.5 million the total raised by Woebot since it was established in 2017. The San Francisco-headquartered company closed a $90 million investment led by azz Venture Partners and Temasek less than a year ago. Founded in 2017 by University College Dublin graduate Dr Alison Darcy, Woebot has developed what it calls a “relational agent”. Unlike most chatbots that are functional in nature however, Woebot is capable of forming a strong, deep relationship with users and delivering human-like therapeutic responses to those experiencing mental health difficulties.