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UK hypnotherapy app Clementine receives £1 million funding boost

Clementine founder and CEO, Kim Palmer - Clementine
Clementine founder and CEO, Kim Palmer - Clementine

London-based hypnotherapy company, Clementine, has received a £1 million funding boost from investment firm Fortunis Capital, reflecting increased interest in mental health apps during the pandemic.

Clementine provides virtual hypnotherapy sessions for women who are struggling with sleep, confidence or anxiety.

Founder Kim Palmer launched the app in 2017 after finding hypnotherapy helped her tackle her own panic attacks, which started while she was working at a fast-paced marketing firm.

"We were inspired by Kim Palmer's story as a working mother who had come up with a solution to a problem that would change the lives of women for the better," said a spokesperson for Fortunis Capital.

"We saw this as an opportunity to invest in a company that has a strong business plan, is sustainable and can help women across the planet."

Today, the startup has around 75,000 users, 90pc of which are women.

"The majority [of our users] are in the UK but the US follows very closely behind so will become a focus in the future," said Palmer.

She added, the funding will enable the company to grow its team and continue to invest in the app's content.

As well as spreading calm among their users, hypnotherapy apps are looking to replicate the success of meditation services such as Calm or Headspace.

In 2018, Calm quadrupled its revenue and Headspace has seen downloads double throughout the pandemic. According to Data Bridge Market Research, the global meditation market will be worth around £7 billion by 2027.