NYC-based Mindset Care, the platform designed to simplify the application process for Social Security Disability benefits for individuals with mental illnesses and their caregivers, announced a total of $13 million in funding.
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Launched from Science Inc.’s startup studio, Mindset’s latest funding round was led by Science Inc., with additional funding from Wellington Management, Tubbs Ventures, Enable Ventures, XYZ, and LivEdge Capital.
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The money will be used by Mindset Care to grow into alliances with regional and national organisations, such as homeless shelters, government agencies, and nonprofits that support mental health locally. The Social Security Administration stated in November 2023 that there was a record backlog of 1.15 million files for disability assistance. This increase assists potential claimants and addresses the growing need for aid.
“As a caregiver for an incarcerated loved one who struggles with their mental health, I experienced firsthand how strenuous and complicated the process can be for securing disability benefits,” said Darren Webb, co-founder and CEO of Mindset Care. “Mindset Care is a distillation of everything I’ve learned, channeled into a platform that streamlines the process for caregivers and individuals, helping them secure the money and benefits they are entitled to receive.”
COVID-19 exacerbated an already escalating mental health crisis in the United States. In 2023, over $183.8 billion was allocated to Social Security Disability Benefits. 17 million Americans live with a serious mental illness and qualify for disability benefits of $1,500 or more per month. The application process, which involves submitting up to four pounds of physical documents, can take up to four weeks to complete, and many applicants often make errors or misunderstand the necessary forms. It is estimated that about 65% of initial disability applications are denied, often due to errors or incomplete information. Mindset Care significantly streamlines and optimizes this process, reducing the time required from weeks to less than an hour.
“We are thrilled to lead this funding round for Mindset Care and support Darren’s mission to provide crucial relief and assistance to those entitled to disability benefits,” said Michael Jones, General Partner of Science Inc. “The mental health crisis in the United States demands urgent attention, and we are honored to play a part in expanding Mindset’s reach. By increasing nationwide visibility and offering tangible support, we can address this critical issue head-on and make a meaningful impact in the lives of people who need help now.”
“Mindset Care is transforming the application process for disability insurance and enabling claimants to apply for their much-needed benefits in a fraction of the time it used to take,” Jackson Cummings, Head of Wellington Management. “We are excited to see Mindset Care continue to scale their business and become trusted partners to claimants and their caregivers.”
About Mindset Care
Mindset Care assists those with a mental illness or physical disability, and their caregivers, in applying for Social Security Disability benefits.Empathy and compassion are at the heart of everything we do. We understand the profound challenges faced by individuals navigating the complex world of disability claims. Mindset Care team is dedicated to providing personalized support, listening to each claimant’s unique story, and advocating tirelessly for their rights. Mindset Care is committed to alleviating the stress and uncertainty that often accompany the disability benefits process, ensuring that clients feel heard, valued, and supported every step of the way.
