Cognito raises $2 million in seed funding to scale across Canada

Cognito, the B.C.-based integrated mental health platform offering specialized programs for anxiety, depression, insomnia, and ADHD, announced today that it has received $2 million in seed funding. Investors include StandUp Ventures, Garage Capital, Graphite Ventures, Spring Impact Capital, and Simplex Ventures.

Cognito plans to use the proceeds to hire staff and support operations in Ontario and expand partnerships with insurers, businesses, and government partners seeking to offer mental health support — as well as minimize costs for patients while achieving optimal patient outcomes.

“With Cognito, clients manage all their appointments, medications, and treatments easily and affordably through our user-friendly app,” said Armon Arani, CEO of Cognito. “Clients can self-refer to our website and access all their healthcare needs in one place.”

According to a recent Statistics Canada survey, more than 5 million people in Canada continue to experience significant symptoms of mental illness, yet not all needs for counselling and psychotherapy services are being met. Among the many reasons are barriers to affordability and accessibility, long wait times, lack of family physicians equipped to offer care, and disparities in health insurance coverage for medications and counselling services.

Founded in 2021, Cognito has already helped thousands of Canadians through being a single access point for effective, affordable and immediate mental health treatment. Cognito differs from other platforms in that it combines counselling and coaching with access to medication and an integrated care team — along with an easy-to-cancel monthly subscription that costs less than a single traditional counselling session.

The average fee for a single, 50-minute therapy session ranges between $135 to $150. Meanwhile, the cost for one month of Cognito’s core mental health program is $129 and provides access to various services. This includes a clinically proven mental health assessment, online visits and check-ins with health providers, prescription medication and refills delivery, self-directed online courses, daily affirmation text messages, and group therapy sessions.

Adding to the many benefits, Cognito’s clinical team is made up of various providers who work together to ensure the best clinical outcomes for clients: physicians, psychiatrists, pharmacists, nurses, clinical counsellors, and cognitive behavioural therapists.

Reflecting on Cognito’s journey, Arani shared: “Witnessing the positive impact our program has on our clients is incredibly rewarding. The feedback and reviews we receive about our treatments make all the challenging days completely worthwhile.”

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