Xinli Media Secures Nearly $10 Million in Series A+ Funding to Expand Mental Health Platform

On January 5, YiXinLi, a company specializing in the field of mental health, announced that it had completed an A+ round of financing amounting to nearly $10 million. The round was led by SAIF Partners Asia, with Aurora Venture Capital, the investor from its Series A round, participating as a follow-on investor. In September 2014, YiXinLi secured its Series A investment from Aurora Venture Capital.

Yixinli is committed to building a psychology platform that brings together emerging psychological professionals in China, delivering healthy and scientific psychological value. Yixinli was officially launched in July 2011, evolving from its predecessor, Xinli Wang.

Data indicate that there are approximately 350 million people with depression worldwide, including 30 million in China, of whom only 5% receive treatment. Statistics from the World Health Organization show that 250 million people in China require “psychological services,” and 80 million need “psychotherapy.” Among children and adolescents under the age of 17 in China, at least 30 to 50 million are affected by various emotional disorders and behavioral problems. Clearly, the mental health services market has substantial untapped potential.

Yixinli states that it has amassed over 12 million users, 6,372 psychological experts, and more than 600 psychology columnists, and has established partnerships with 792 mental health institutions across China. Leveraging the internet, Yixinli offers a variety of services, including psychological counseling, psychology courses, psychological assessments, and Psychology FM.

Regarding the use of proceeds from this funding round, Huang Weiqiang, founder of YiXinLi, stated that the company will continue to accelerate the development of its psychological counseling products, connect more high-quality psychological counselors and users across China, and establish itself as the largest internet gateway in the mental health sector. Meanwhile, it will open up its psychological services to traditional mental health institutions and mainstream internet platforms, aiming to become China’s most professional mental health service provider.

Jin Fengchun, Partner at SAIF Partners Asia, believes that YiXinLi has demonstrated steady growth, boasts a strong foundation in professional resources and service ecosystem, and possesses a massive user base with significant explosive potential. He is optimistic that the company will soon become a unicorn in the psychological applications sector. “We have invested in many outstanding projects in the TMT and healthcare sectors. Earlier this year, we participated in a follow-on investment round for Zhihu and led the investment round for YiXinLi. We believe these portfolio companies will certainly create greater synergies, giving rise to more business models and expansive possibilities.”

“Yixinli has already secured the top position in terms of user base and influence. We look forward to the platform continuing to expand its scale and strengthen its market presence, achieving absolute leadership, and always being poised to seize emerging opportunities with the utmost speed and proximity,” said Deng Feng, Founder and Managing Director of Northern Light Venture Capital.