[Startup Bharat] How this Bhubaneshwar-based online platform helps people manage their mental health

The COVID-19 pandemic has wreaked havoc on the mental health of people in India and around the world. There has been an increase in cases of stress, depression, anxiety, psychological isolation, emotional challenges and fear of failure, among others. Last year, the Indian Psychiatry Society reported a 20% increase in cases of mental illness since the start of the pandemic.

This hit NIT, Rourkela graduates Rahul Mohanty and Swagat Mohantywho have known each other for more than nine years.

“Even though we are constantly surrounded by our own people, we may still not find the right person to talk to and resonate with, or share our agonies without hesitation. Amid this growing stress, we have seen a increase in the number of suicides and cases of depression where people have given up on even the smallest of failures.We have seen these scenarios first hand within our families and close friends, and have also personally felt the brunt growing stress and loneliness,” said FailTell co-founder Rahul. Your story.

This led them to start Inasmuch asFailTellInasmuch as out of Bhubaneshwar in August 2020 as a platform for people with similar life experiences to connect.

What does FailTell do?

The startup envisioned creating a community where people would share their stories of overcoming failures. The goal was to help people find their role models through real-life stories and to make sure they don’t feel alone.

An all-in-one online platform, FailTell offers a wide range of services to help everyone overcome failure, overcome mental and emotional health challenges, develop career strategies and deal with day-to-day concerns for growth. personal, emotional and professional.

“Whether it’s support with mental health, uncertain career decisions, or just someone you want to talk to who can help you lead a more meaningful and happier life, FailTell offers a unique solution to rethink your personal and professional growth, with its wide range of services”, explains Swagat.

Challenges

He explains that the initial challenge the team faced was finding affordable and reliable technology resources, including developers. Moreover, as the startup already caters to a crowded market, the team felt the need to stand out from all the big players in the market.

“Another major setback we faced was getting people to share their stories of struggles, failures and challenges, given the stigma attached in our country when it comes to mental health. difficulties during our overseas expansion, as we had a limited understanding of customer needs in those geographies through the Campus Ambassadors we had hired at overseas campuses,” says Rahul.

The duo realized that it was important to make people aware of how to deal with failure and overcome it practically. They saw the need to offer a more holistic approach.

“However, no platform could be found where people shared their ‘failure’ stories or their life experiences in one place. It made us realize that we had to do something about these issues and destigmatize chess,” says Rahul.

Pandemic and other services

When the pandemic peaked, people had to deal with heightened emotions, mental health fallout, job uncertainty, anxiety about the future, and more. The team had realized that most of these issues were interconnected and that fixing one issue helped somewhat to alleviate others.

The startup then started offering additional services in August 2021, one being career mentoring. The team consists of domain-specific career mentors with diverse backgrounds – ranging from popular industries like IT, Entrepreneurship, Consulting & Analytics, and BFSI to other lesser known ones like Venture Capital, Product Management, Fashion Design, Modeling, Fine Arts, Services government, health, hotel management, etc

“With a compassionate and caring network of counsellors/therapists, life coaches, and area-specific career mentors, our goal is to make all of our services accessible and affordable to everyone, without compromising their quality,” says Rahul.

The business model

The total team size is 14 across various teams – technology, marketing, design and content. The team has 14,000 users who shared 150 stories.

“We revamped our website based on feedback and market-product fit analysis to launch our new services. Thanks to this, we have also managed to create a strong network of over 50 counsellors/therapists, over 30 life coaches and over 150 career mentors (in 30 fields) within 1.5 months of launching our services. extra,” says Rahul.

Here are some of the key indicators:

  • 1,500 monthly active users, 150 stories, 250+ experts, 14,000 users
  • career mentoring

“Our startup is already started. As part of AWS Activate Portfolio, we received credits from Amazon Web Services which cover a small fraction of our technology costs. We also received help and support from Startup Odisha to grow,” says Rahul.

Although the team declined to share their revenue or the amount they charge the client, they explained that they make money in the B2C sector, with clients opting for career mentoring.

Rahul explained that they also have a B2B bundle for educational institutions, coaching institutions, legal persons, MSMEs, etc. The team also hosts webinars and would charge identical fees over time.

“We have other exciting projects and our future plans, which would add to the business model. For our B2C business, we have a gross margin of 30% which is charged per session and which makes money for our startup,” says Rahul.

Market and future

According to GlobeNewswire, the addiction and mental health treatment market will affect $6.2 billion by 2027. Some of the applications in the segment include – I am Sober, Recovery Path, Sober Grid and others. There are others like Atmana that operate on a freemium model, and although the app is free to install, advanced functionality requires a paid subscription of $90 per year.

“Our mission is to create responsible and realistic social media for people of all age groups and from all walks of life. We want people to measure the depth of every life process with a holistic view rather than just looking at the number of successful attempts. In three years, we aim to connect with over 100 educational institutions and build a network of over 2,000 counselors, therapists, life coaches and career mentors,” says Rahul.