# Mental funding: rounds and investors

> Mental has raised $10M across 2 rounds since 2022. Investors include Newchip Accelerator and Goodwater Capital. Every round with its source.

Source: https://millionrounds.com/company/mental (Millionrounds; every figure on the page links to its filing or article)

United States · [Venture startup](https://millionrounds.com/companies)

# Who invested in *Mental*

2 rounds we have observed, with the 2 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Fitness

Raised 11 months ago

Funding summary Updated 26 Oct 2026

**$10M** raised across 2 rounds since 2022, from 2 sources

**$250K** Pre-seed **$10M** Venture

- **Latest round:** Venture, $10M Dec 2025
- **Step-up i:** 40.4×
- **Investors:** 2

See who backed them

## The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2023 2024 2025

**$250K** Pre-seed

**$10M** Venture

- **First round:** Pre-seed, $250K
- **Biggest round:** $10M
- **Between rounds:** 3.1 years

## The rounds

- **Dec 2025** Venture **$10M** *1 new* [Goodwater Capital](https://millionrounds.com/fund/goodwater-capital) Source recorded
- **Nov 2022** Pre-seed **$250K** *1 new* [Newchip Accelerator](https://millionrounds.com/fund/newchip-accelerator) Source recorded

## Founders and team

From Mental's own website: 4 on the team.

- **Bill Phillips** Contributing Chief Operating & Audience Development Officer
- **Abby Yoder** Editorial Intern
- **Tom O’Quinn** Contributing Creative Director
- **Vaishna Rajakumar** Editorial Intern

## Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

**Pre-seed** 2022 **Venture** 2025 [Newchip Accelerator](https://millionrounds.com/fund/newchip-accelerator) [Goodwater Capital](https://millionrounds.com/fund/goodwater-capital)

## Everyone who backed them

[Newchip Accelerator](https://millionrounds.com/fund/newchip-accelerator) Accelerator **1** round

[Goodwater Capital](https://millionrounds.com/fund/goodwater-capital) VC firm **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=mental).

## Quick answers about Mental

### Who invested in Mental?

Mental's investors include Newchip Accelerator and Goodwater Capital.

### How much has Mental raised?

Mental has raised $10M across 2 rounds since 2022.

### When did Mental last raise?

Mental's most recent round was a Venture of $10M in Dec 2025.

### What was Mental's biggest round?

Its most recent round, $10M in Dec 2025, is also its largest on record.

### Who backed Mental first?

Mental's first round on record, in Nov 2022, was backed by Newchip Accelerator.

### What stage is Mental at?

Mental's latest named round is a Venture, in Dec 2025.

### Where is Mental based?

Mental is based in the United States.

## Companies like Mental

In the same sector, and raised in the last eighteen months.

[**Bevel** $15M · Sept 2026](https://millionrounds.com/company/bevel)[**Wesper** $18M · Jul 2026](https://millionrounds.com/company/wesper)[**Flawless Aesthetics** $399K · Jun 2026](https://millionrounds.com/company/flawless-aesthetics)[**Fort** $5.0M · Apr 2026](https://millionrounds.com/company/fort)[**WHOOP** $1.3B · Mar 2026](https://millionrounds.com/company/whoop)[**Eight Sleep** $190M · Mar 2026](https://millionrounds.com/company/eight-sleep)

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