Portfolio Spotlight: SoundMind

SoundMind is an app that works to alleviate symptoms of stress, anxiety, depression, and more through academically researched music therapy. After downloading the app, the user goes through an onboarding process where they handpick sounds that they like and dislike. After analyzing this information, SoundMind constructs playlists and libraries designed specifically for the user and their preferences. SoundMind has experienced exciting growth since Chasing Rainbows’ early pre-seed investment, and has recently closed a $750k pre-seed round! The startup has some exciting updates as it approaches two years of life!

NYC Pride 2022 Official Wellness Partner

This past June, SoundMind partnered with NYC Pride, and joined in the fun of all the YouthPride celebrations in Central Park. Brian Femminella, 22-year-old CEO and founder of SoundMind, was proud to participate in NYC Pride this year as an example of LGBTQ+ representation in entrepreneurship. 

During the event, SoundMind hosted an app activation booth for visitors to gain hands-on experience navigating the app and all its features. One of the features included a special NYC Pride section, where users were able to walk through a current mood survey.

Chasing Rainbows is proud to see its portfolio companies immersing themselves in Pride celebrations across the country!

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Premium

SoundMind is preparing to launch the Premium version of their app!

New Features:

• A brand new Hypnotherapy platform aimed at facilitating guided meditations, anxiety detoxes, etc.

• 1000+ more curated soundscapes.

• 2 new brain games made to exercise the user’s cognitive processes.

• Increased customization and personalization:

  • The Music Composer feature will now be organized by mood and genre to better tailor to the user’s mood.

  • The Visual Beats feature will have an updated organization that will allow the user to better filter binaural “tags” based on mood.

Learn more about the Premium app updates on SoundMind’s Instagram page @soundmindapp!

Philanthropy

Through engagement with a few nonprofit organizations, such as the Boys & Girls Club of America and the Girl Scouts of America, the SoundMind team reinforces the positive influence that the app has on humanitarian efforts of mental health advocacy. This past month, SoundMind promoted dialogue surrounding mental wellness with children of the Boys & Girls Club, ages 10-15, and plans to maintain this partnership in order to continue rewarding involvement that goes beyond business growth strategy!

TEDx

In addition, on July 28th, founder Brian Femminella and Chief Community Officer Lucy Schafer spoke at TEDxUSC, where both were able to visit their recent alma mater. Brian is a US Army Military Intelligence Officer, and an LGBTQ+ and mental health advocate. Lucy Schafer graduated from USC this past year with an academic focus on Computational Neuroscience. She is also a US Army Officer, specifically in the Medical Service Corps, and shares in Brian’s passion for social impact along the intersection of technology and mental health therapy. 

In this TED Talk, Brian and Lucy address current issues in mental health care, and discuss how SoundMind’s structure provides public health solutions while simultaneously protecting one’s identity. SoundMind has come at a time where prevalence of and discussion around mental health issues is on the rise, especially after the “stress and isolation” experienced from the COVID-19 pandemic, as Lucy points out in her and Brian’s TED Talk. In addition, Lucy shares that mental illness goes beyond the individual psychological effects experienced by a diagnosed patient: economic effects highlight “$100B per year in lost productivity.”

Brian and Lucy then go on to discuss their solution of SoundMind, emphasizing how the app customizes care in order to make a meaningful difference in the mental health space. Watch the full talk here!

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Fundamentally, SoundMind goes above and beyond in their mission of advancing mental health research and resources by, as Lucy emphasizes, “focusing on the communities that need it most: soldiers and veterans, LGBTQ+, BIPOC, and many more.”

This mission really resonates with Chasing Rainbows because our team understands just how influential mental health issues can be on an individual’s ability to succeed and function at their best. A 2016 study by StartOut, a nonprofit organization serving and providing mentorship for LGBTQ+ entrepreneurs, revealed that about 40% of LGBTQ+ entrepreneurs said they chose not to self-identify as LGBTQ+, often because they were concerned doing so might harm their chances of receiving capital. When founders have to exert mental capacity worrying about the effects of their identity on receiving funding, the disadvantages that LBGTQ+ entrepreneurs face go beyond physical and tangible metrics of financial success and trickle into affecting the mental health of these founders. As an LGBTQ+-focused angel fund, supporting SoundMind and other mental health advocates, companies, and initiatives is of utmost importance.