Sensate raises $3.2M Seed round to provide relief to people suffering from anxiety disorders and stress
Did you know that anxiety disorders are the most common mental illness in the United States? According to the Anxiety & Depression Association of America, anxiety disorders affect 40 million adults (19.1% of the population) age 18 and older every year. Unknown to many, anxiety disorders are highly treatable, yet only 36.9% of those suffering receive treatment. That’s why one tech startup is on a mission to offer an easy solution for people seeking relief from the toxic effects of stress and anxiety.
Enter Sensate, a wellness tech startup that has created a patented relaxation device+app designed to quickly help you experience deep relaxation and turn the tide on stress and anxiety. The Sensate device looks like a black plastic pebble — or the same size as a computer mouse — that’s supposed to sit in the middle of your chest. As Sensate sits on your chest and vibrates at various low frequencies, the Sensate app plays calming music and purrs on you.
Due to its success and popular demands from customers, Sensate was able to raise $1,001,718 from 4,323 backers of its patented relaxation device+app.
To further scale its operations and expand access to wellness to more people, Sensate announced today that it closed $3.2M in a seed funding round in February led by Incisive Ventures, with participation from Share Ventures, Geek Ventures, Dangerous Ventures, Unlock Venture Partners, What If Ventures, Moai Capital, and 37 Angels.
A portion of the seed round was raised via Wefunder, the leading retail investment platform for Regulation Crowdfunding. Through Wefunder, the company offered over 900 customers, early supporters, and friends, including Hollywood celebrities, the chance to become shareholders in Sensate alongside institutional investors in a seed round via an SPV.
Sensate’s hardware and subscription app innovation uses patented technology designed to activate the body’s natural ability to self-regulate. An incredibly easy, fast, and accessible way to relieve stress, the device was developed by physicians and tested in clinics. Using infrasonic therapy to help the body’s nervous system recover from daily stresses, Sensate’s intelligent touch therapy is entirely effort-free for the user.
Sensate’s breakthrough technology has also been dubbed ‘a genius device’ by Forbes and was honored as a TIME Magazine Best Invention of 2022. Sensate exceeded its 2022 growth targets, with a $10.2M revenue run rate as of December 2022. Sensate is poised to combat the global stress crisis, revolutionizing the exponentially growing $4.2T wellness market.
In a statement, Sensate Co-Founder and CEO Anna Gudmundson said: “Millions of people are seeking an easy way to feel less stressed and anxious and we’ve seen increasing demand for our product. In the second half of 2022, we grew almost 300% and this round will allow us to scale and serve even more people,”
Gudmundson’s Co-founder is Sensate innovator and integrated medicine physician, Stefan Chmelik. Chmelik has decades of clinical experience specializing in complex stress and health issues. Gudmundson herself has over 15 years of experience in exponential technologies, and as in previous roles like turnaround CEO, she effectively optimizes and delivers company products, brands, and business strategies.
“We’ve been looking for a team and platform focused on the opportunity to explore vagus nerve toning,” stated Hamet Watt, Founder, and Managing Partner at Share Ventures, a Los Angeles-based venture foundry, and fund. “We’re excited to have found that in Sensate, and are thrilled to support their innovative wellness technology, which has the potential to revolutionize the way people manage stress and anxiety. Sensate’s management and team both bring unique expertise to this field, and we look forward to partnering with them on
their mission to promote mental wellness.”
Geek Ventures, an NYC-based VC that invests in immigrant founders building exciting scalable tech, also invested in the round. Ihar Mahaniok, Managing Partner at Geek, also added: “I’ve seen firsthand the transformative power of Sensate’s device, and it’s clear that I’m not the only one. The love and loyalty from their users is a testament to the incredible impact they are having on people’s lives. With such a talented team at the helm, I have no doubt that Sensate will continue to innovate and build solutions that make a real difference in the world, and I am glad we can support them in their quest.”