Mental health digital company Headspace Health has acquired Sayana, the maker of AI-enabled mental health and sleep monitoring apps.
Sayana’s self-care app uses chat sessions with an AI called Sayana who tracks their emotions and connects them to their experiences and actions. It also offers different content and exercises depending on the information a user provides and their mood trends. It also has a self-care app targeting the employer market to help manage stress and anxiety.
Sayana’s Sleep app tracks when users go to sleep and how they’re feeling. It also offers guided sessions and soundscapes to help them fall asleep.
“Since our inception, our mission at Sayana has been to put self-care in everyone’s pockets,” said Sergey Fayfer, founder and CEO of Sayana, in a statement.
“We are excited to bring together our technology, engineering and design expertise to advance Headspace Health’s efforts to democratize high quality, affordable mental health care around the world.” Fayfer will take on a product leadership role at Headspace.
WHY IT IS IMPORTANT
Headspace said the deal will expand its AI capabilities and allow it to personalize content and experiences based on a user’s needs.
“Amid a rapidly growing landscape of mental health and wellness apps, Sayana has developed a uniquely engaging member experience powered by world-class AI and machine learning algorithms,” said Russell Glass, CEO of Headspace Health, in a statement.
“Sayana’s technology, and most importantly the Sayana team, will help us drive our product and content strategy meaningfully as we continue to build the world’s most comprehensive mental health and wellbeing platform.”
THE BIGGER TREND
Headspace Health is the result of a merger of the meditation app Headspace and digital mental health ginger that closed in October.
When the deal became known, the companies unveiled their combination to meet the growing need and shortage of mental health professionals in the United States
“Headspace and Ginger agree that the mental health crisis cannot be resolved by simply hiring more therapists or moving care online,” Glass, former CEO of Ginger, said in a statement at the time. “This merger will uniquely enable us to address the full spectrum of mental health needs – from prevention to clinical care – all from one integrated platform.”
But the digital space for mental and behavioral health is overcrowded. Rock Health’s digital health analysis in the third quarter found the space had raised $ 3.1 billion in investor money by that point in 2021.
Other companies focused on the clinical sector are SonderMind, Meru Health and Lyra Health.