Mental health tech firm flourishes with Innovate UK backing
Innovate UK EDGE has helped a Bristol-based mental health technology company to revamp its leadership and marketing strategies and to secure two Innovate UK grants worth £135,000.
The support will provide much-needed solutions to mental health challenges, says Matthew Vamplew, co-founder of Paranimo.
Paranimo has used the grant funding to add new features to its platform, assemble a network of more than 100 therapists, hire a chief technology officer and develop a new B2B strand of the business, Paranimo Connect.
The company will next be working with Innovate UK EDGE on access to further finance for platform development, intending to fulfil ambitions for rapid scaling both in the UK and overseas.
Digital platform helps identify and rank mental health conditions
Paranimo allows therapists to identify and rank mental health conditions based on who they can help the most. The technology then uses advanced search and comparison tools to create a percentage match with potential clients.
In March 2020, Matthew began working with Dr Ben Masheder, Access to Funding and Finance Manager at Innovate UK EDGE South West. He highlighted two key Innovate UK funding competitions and provided critical appraisal of Paranimo’s applications.
Matthew added: “Ben’s support was absolutely invaluable.With Innovate UK EDGE’s support we secured £135,000 over two successful funding applications despite competition from thousands of other businesses.”
Paranimo’s CEO has also worked closely with Innovate UK EDGE’s marketing specialist, Maggie Robinson, to revamp the company’s marketing strategy. Meanwhile, Innovate UK EDGE leadership specialist Caroline Gourlay has provided a listening ear, offering psychological insight and posing gently challenging questions.
Paranimo offers partnership funding option to aid therapy
Matthew said: “We now have a centralised marketing framework that informs our whole direction of travel. That is going to be extremely important as we rapidly accelerate our user count and prepare for further expansion.”
“Caroline has been such a useful sounding board in terms of business strategy and has provided some really candid and robust insights that we wouldn’t have come to ourselves.”
According to NHS England, one in four people will experience mental illness each year but finding a local therapist with the right experience and availability can be difficult.
The Paranimo platform invites clients to enter specific requirements and then to scroll through a ‘matched’ selection of therapists who most closely meet their needs.
They can then watch video introductions from therapists, book appointments, pay, and attend video calls through the Virtual Therapy room, all using the Paranimo platform.
Paranimo Connect enables charities and other organisations to fund therapy on behalf of vulnerable groups or employees. The National Counselling Society, Disability Union and Carer Support Wiltshire have agreed partnerships. The company is also licensing its technology in the US and South America.
With Innovate UK EDGE’s support we secured £135,000 over two successful funding applications despite competition from thousands of other businesses.
– Matthew Vamplew, CEO and co-founder of Paranimo