ParentalEQ, a parent psychology platform valued at $4m which helps parents raise emotionally strong families by simplifying psychology for any parent to use, has seen huge growth.
With a 190% monthly increase in bookings from July with 80% coming from parents in Sydney and Melbourne, and many unable to access psychologists who have long wait lists.
ParentalEQ launches equity crowdfunding campaign
Vijay Solanki, CEO of ParentalEQ says the program has had more than 10,000 downloads and they are in discussions with several schools and pilots with companies to roll out at scale.
The program was introduced to schools across the UK, including Thomas’s Clapham the sister school of the prestigious Thomas’s Battersea, a school for students aged 4-13, including Prince William and Kate Middleton’s children, Prince George and Princess Charlotte.
“In response to the uncertainty around the pandemic, we have released 10 modules for parents geared at dealing with emotional health challenges during the lockdown,” says Mr Solanki, who has a long background in innovation with Shazam, Philips and Unilever.
“50% of mental health issues start before the age of 14 but most are undetected and untreated. Many parents have a good understanding of kids’ physical but not emotional well-being.”
“There has been a big spike in the demand for psychology services during the pandemic, but there are issues around the cost, inconvenience and availability of therapists right now.”
ParentalEQ to help alleviate parenting pain points
New research on the effects of the pandemic shows that one in four children globally have elevated depression, while one in five have elevated anxiety, up from one in ten, pre-pandemic.
“Pre-pandemic wait times have doubled, with many unable to access the help they need.”
“Financial difficulties alongside restrictions on movement have made it even more difficult for families struggling with anxiety, depression, behavioural and emotional challenges.”
“Parents are at a melting point but at ParentalEQ, we are trying to provide tools to help them respond in the best way when a problem arises, so they can be prepared.”
“Even when we come out of lockdown, these mental health issues may take years to resolve. We are using tech for ML and AI, to deliver mental health support in a more scalable way.”
The founding team of ParentalEQ comes from a cross section of disciplines, with extensive experience across many sectors like digital solutions, product and health.
Early backers include Skalata Ventures alongside grant support from the NSW Government.
While investing in high growth unlisted businesses was once only accessible to high net worth investors and venture capitalists, equity crowdfunding means it is now available to any Australian who wants to buy shares in companies they feel passionate about.