Funding profile · Digital mental health

MentalHappy

One priced venture round in 2021, three Regulation Crowdfunding offerings, and a 2024 Form D three quarters unsold at filing. The Reg CF paperwork is the most detailed financial record this company has produced.

$1.1MSeed round announced May 2021, led by Northwestern Mutual Future Ventures
$500KSold of $2.0M offered, Form D filed Aug 7, 2024, two investors
3Reg CF offerings filed 2020, 2022 and 2023
$684Revenue reported for fiscal 2022, the last SEC financial disclosure

Data as of September 22, 2026. Company-reported figures are labeled.

Rounds at a glance

When Round Amount Investors Source
2018 Y Combinator, Summer 2018 Not disclosed Y Combinator YC data
2020 to 2021 Reg CF, StartEngine, common stock $205,579.87 per the corrected Form C-U; $198,932 per KingsCrowd Crowd, count not filed Form C-U
May 2021 Seed $1.1M announced, later called $1.2M by the company Northwestern Mutual Future Ventures led; Social Impact Capital, Chai Angels, Peter Reinhardt Press reports
2022 Reg CF, StartEngine, common stock $277,288.39 per the Form C-U; $10,719 per KingsCrowd Crowd, count not filed Records disagree
2023 Reg CF, Wefunder, SAFE $50,500 53 investors Wefunder page
Jul 2024 Equity, Rule 506(b) $500,000 of $2,000,000 2 investors Form D
By Nov 2024 InvestAL, Innovate Alabama Not disclosed State programme funded through the federal SSBCI AL.com

What the filings show

MentalHappy Inc · Form D · filed Aug 7, 2024

First sale
Jul 29, 2024
Offered
$2,000,000 equity
Sold
$500,000 · $1,500,000 remaining
Investors
2 · average $250,000 · minimum accepted $25,000
Exemptions
Rule 504(b)(1) and Rule 506(b), both checked
Related persons
Tamar Lucien Blue, executive officer and CEO
Issuer address
2100 Southbridge Parkway, Suite 650, Birmingham, AL
Filing
SEC EDGAR, CIK 0001809358

Form C · Wefunder · filed Feb 6, 2023, amended Apr 28, 2023

Intermediary
Wefunder Portal LLC, CRD 283503, fee 3.0 percent
Security
Simple Agreement for Future Equity
Target
$50,000 · maximum $340,711, cut to $124,000 in the amendment
Deadline
Apr 30, 2023, extended to Apr 29, 2024
Fiscal 2022
Revenue $684.10 · net loss $282,646.38 · total assets $96,822.30
Outcome
$50,500 from 53 investors per Wefunder. No Form C-U filed.
Filing
SEC EDGAR, file 020-31730

Form C · StartEngine · filed May 24, 2022

Intermediary
StartEngine Capital, LLC, fee 9 percent plus 3 percent of securities
Security
Common stock, 1,366 shares at the minimum
Target
$9,999.12 · maximum $534,989.52 · deadline Aug 22, 2022
Fiscal 2021
Revenue $0.00 · net loss $311,781 · cash $344,678
Close
Form C-U of Aug 26, 2022 reports $277,288.39 and 163,565 securities
Filing
SEC EDGAR, file 020-30231

Form C · StartEngine · filed Apr 24, 2020, amended six times

Intermediary
StartEngine Capital, LLC, fee 7 percent plus 2 percent of securities
Security
Common stock, 1,897 shares at the minimum
Target
$9,997.19 · maximum raised from $106,996.81 to $1,069,999.72
Fiscal 2019
Revenue $38,129 · net loss $137,841 · total assets $4,752
Close
Form C-U of May 7, 2021 reports $198,631.57 and 39,577 securities, corrected May 12, 2022 to $205,579.87
Filing
SEC EDGAR, file 020-26344

Reading the filings

  1. The 2024 round is two cheques and a lot of daylight.$500,000 from two investors is $250,000 each against a $25,000 minimum, so these are not small holders. But $1,500,000 of the $2,000,000 was unsold at filing, and no amendment has been filed since.
  2. Crowdfunding never scaled.The 2020 offering closed at $205,579.87 against a maximum lifted to $1,069,999.72, about 19 percent. The 2023 Wefunder offering closed at $50,500 from 53 investors, about $953 each, against a maximum cut mid offering from $340,711 to $124,000.
  3. Two records of the 2022 close do not agree.The Form C-U reports $277,288.39 and 163,565 securities. KingsCrowd records $10,719. The offering priced common stock at about $7.32 a share, which puts the $534,989.52 maximum near 73,086 shares, well under the 163,565 the C-U reports. Neither figure has been amended.
  4. Reported revenue went down, not up.Fiscal 2019 revenue was $38,129, fiscal 2020 and 2021 were both reported as $0.00, and fiscal 2022 was $684.10. Net losses ran $137,841, then $170,855, then $311,781, then $282,646.38.
  5. Valuation rose while the numbers fell.Pre-money $6.0 million at the 2021 close, $7,013,241 at the 2022 close, and a $10 million cap on the 2023 SAFE, per KingsCrowd.
  6. Reporting stopped.EDGAR shows a single Form C-AR, filed April 27, 2022 for fiscal 2021, and none since, and no Form C-U closing the Wefunder offering. Reg CF issuers carry an annual reporting duty until a termination condition is met, and nothing on file states that one was.
  7. The 2024 Form D claims two exemptions at once.Item 6 has both Rule 504(b)(1) and Rule 506(b) checked, a pairing that is unusual on a single notice.

Commercial signals

Signal Detail Source type
Pricing Facilitator groups $29 to $100 a year, per the CEO in May 2025. Organization platform fee starts at $299 a month. Company-stated
Customers No health system or provider organization named publicly. The corporate names from 2018 belonged to the discontinued care package business. Not found
Revenue Last filed figure $684.10 for fiscal 2022. In November 2024 the CEO said the company would cross $1 million in annual recurring revenue within a year. The 2024 Form D checks the range $1 to $1,000,000. Claim outruns filings
Scale 10,000 or more community members, per the site in 2026. About 5,000 active users, per the CEO in May 2021. Company-stated
Compliance Marketing says HIPAA-compliant. The terms of use say MentalHappy is not a HIPAA covered entity or business associate. No SOC 2 attestation found. Differs from marketing
Clinical evidence No registered trial, no PubMed paper, no named outcome study, searched September 22, 2026. Not found

What to watch

  • An amended Form D showing whether the remaining $1,500,000 sold.
  • A Form C annual report. The last one covers fiscal 2021.
  • A closing record for the 2023 Wefunder offering.
  • Any disclosure reconciling $684.10 of filed fiscal 2022 revenue with the $1 million recurring revenue target.
  • A named paying health organization, the customer the current site is built to sell to.

The MentalHappy story on Healthcare DiscoveryHealthcare Discovery

Related companies

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  • Science Exchange: Shared investor: Index Ventures. A marketplace for ordering experiments that became procurement software for big pharma, and that sourced the laboratories for the largest public test of whether
  • Experiment: Shared investor: Index Ventures. A crowdfunding site where a graduate student can raise three thousand dollars in a month instead of waiting a year for a grant
  • Nourish: Shared investor: Index Ventures. A telehealth company that bills health insurance for visits with registered dietitians

Sources

  1. Public recordForm D, accession 0001809358-24-000002SEC · Aug 7, 2024
  2. Public recordForm C and C/A, Wefunder offering, file 020-31730SEC · Feb and Apr 2023
  3. Public recordForm C and C-U, StartEngine 2022 offering, file 020-30231SEC · May and Aug 2022
  4. Public recordForm C, six amendments and two C-U filings, file 020-26344SEC · 2020 to 2022
  5. Public recordForm C-AR for fiscal 2021SEC · Apr 27, 2022
  6. IndependentMentalHappy on StartEngine, 2020 and 2022 deal pagesKingsCrowd, Sweeny Kumar
  7. IndependentNorthwestern Mutual Future Ventures leads $1.1 million seed roundBizTimes · May 6, 2021
  8. IndependentAlabama is not a place to overlookAL.com · Nov 10, 2024
  9. CompanyMentalHappy profile, total raised and investor countWefunder · Sep 22, 2026
  10. CompanyTerms of use, privacy policy, health support and partners pagesmentalhappy.com · Sep 22, 2026

Compiled from SEC public records and published reports as of September 22, 2026. Form D amounts reflect the filing date. Form C, C/A, C-U and C-AR filings report offerings under Regulation Crowdfunding. Healthcare Venture Capital Fund holds no position in MentalHappy. This page is not an offer to sell or a recommendation to buy any security.