🔍 Dissecting Feel Therapeutics’ $3.5M Mental Health Tech Pitch: The Good, The Bad, and The Fuzzy
Feel Therapeutics, a startup developing wearable devices and apps for mental health tracking, recently raised $3.5 million. Let’s break down their 11-slide pitch deck:
💫 Strengths:
✔️ Compelling problem framing: Slide 3 effectively questions why we don’t track mental health like other health metrics, instantly grabbing attention.
✔️ Clear solution overview: Slide 5 provides an excellent high-level view of Feel’s platform, smartly setting context before diving into details.
✔️ Solid traction data: 2,700 patients across nine countries demonstrates meaningful scale and market validation.
💫 Areas for improvement:
🔆 Missing competitive analysis: No mention of how Feel stacks up against alternatives or potential competitors.
🔆 Vague go-to-market strategy: Lacks clear plans for scaling, target customer segments, and pricing model.
🔆 Fuzzy use of funds: Slide 10’s allocation is too vague. Investors need specific, time-bound goals for capital deployment.
🔆 Cluttered team slide: While impressive credentials are listed, roles and relevance to company success are unclear.
Inclusion of investment terms on the ask slide is unusual but may work, given a lead investor is in place.
The deck doesn’t address Feel’s extensive prior funding history ($30 million raised over eight rounds per PitchBook).
❗️ Lessons for founders:
— Start with a compelling “hook” that frames your problem space uniquely.
— Provide a clear high-level overview before diving into product specifics.
— Back up traction claims with hard data, but ensure metrics are easily understood.
— Always include competitive positioning—investors need to understand your edge.
— Be specific about go-to-market plans and use of funds. Vagueness raises red flags.
— Ensure your team slide clearly connects expertise to company needs and goals.
— If you have a complex funding history, address it proactively. Explain learnings and course corrections.
While Feel Therapeutics presents an intriguing product in an important space, the deck leaves several crucial questions unanswered.
With tighter go-to-market strategy, clearer use of funds, and better context around team and funding history, this could be a much stronger pitch.
The fact they secured $3.5 million suggests investors see significant potential in Feel’s approach to quantifying mental health, but future raises may require more comprehensive storytelling.
