Investing in Feelmore Labs - Modernizing Mental Wellbeing
At M13, we focus on how emerging technologies will drive consumer behavior change particularly behaviors that improve our daily lives. According to the Census Bureau, a third of Americans currently suffer from stress, anxiety, or depression. But these are the official estimates. How many people go undiagnosed? How systemic are these issues? How many people turn to alcohol, painkillers, or their vape pen to help manage their stress? Without intervention and as the pandemic and other crises continue, so will substance abuse and overdoses and other devastating consequences.
Mental wellbeing is an area we have been evaluating for some time, and last year we were very excited to meet Francois Kress and his team at Feelmore Labs who are building exciting, modern, and noninvasive solutions.
Based on breakthrough technology developed at MIT and Harvard’s joint medical program and after years of working in stealth mode in Brooklyn, Feelmore Labs is ready to launch its first product, Cove. In a nutshell: through a very light “double tap” behind the ear, Cove leverages a patented non-invasive vibrating technology that activates specific mechanoreceptors in the skin and regulates a deep part of the brain controlling emotions, the insula, which in effect reduces anxiety and stress.
Simply put it on for 20 minutes a day, without interruption to your day, on the way to work, before bed, while you enjoy your morning coffee. The device’s design is sleek, minimal and so subtle that it is almost unnoticeable. Cove will soon release software that allows you to personalize your experience and adjust the frequency to find your ideal wave.
We are huge fans of mindfulness and meditation but compliance is hard. Finding the time, space, and peace to meditate can often be a stress-inducing process. We believe that Feelmore is developing the evolution of these markets focused on passive use (ie. easy compliance) and results. But Cove is just the first product; Feelmore has a very active pipeline across many mental health indications. Sleep is the next frontier and early indications are quite positive, just ask M13 Partner Christine Choi who says she has not slept this well since 2014!
When evaluating investments based on new technology, we ask two questions: (1) Is this product or service solving an issue for a large enough audience, and (2) Simply put, does it work? The answer to both of these is a resounding yes. We tried the product, and it works.
We tried the product, and it works. Data across multiple studies have also proven its efficacy: in trial studies, 90% of subjects reported reduced stress and improved sleep after using Cove.
Cove launches this September and we are thrilled to share this with the world. Please sign up here. Congratulations to Francois and the whole team at Feelmore Labs on this exciting launch. We couldn’t be prouder to back you with our friends at True Ventures and Arch Ventures.