Tranquility App – 22 September

22 Sep 2020
 

Tranquility App

Tranquility helps people living with anxiety and depression get help when and where they need it. Paired with the gold-standard, Cognitive Behavioural Therapy, the service is also available with the support of a trained coach or can be done as self-help.

Tranquility’s main competitors include Beacon, Morneau Shepell, and Strongest Families. However, the competitive advantage that puts Tranquility ahead is the time, effort, and care that they have put into their product which ranges from their aesthetically pleasing UX/UI design and the attention towards ensuring the customer journey is seamless.

 

Traction

Tranquility is currently finishing up their work with a large provincial health authority to build an anxiety/depression co-morbid program for them. Tranquility has partnered with researchers and the government to win a major federal research grant from the Government of Canada’s health research investment agency, the Canadian Institutes of Health Research (CIHR). This will allow Tranquility to recruit over 200 adult participants throughout the Maritimes to study the efficacy of their anxiety & depression programs.

Tranquility’s biggest hurdle to overcome in the following year is proving that their product can be both scalable and effective. In doing so, they plan on partnering with organizations that will help with distribution of the service.

 

Team

Joel Muise, Co-Founder & CEO – Joel is trained as a chartered financial analyst and after graduating with a degree in finance from Saint Mary’s University in Halifax, N.S., he worked for 6 years as a stock analyst for a local investment company, but after suffering from burnout, Joel realized that a career in finance was not fulfilling for him.

Joel’s first diagnosis with Generalized Anxiety & Depression happened in his last year of high school and he has been a mental health advocate ever since. In 2016 he posted a blog post on Facebook about his struggle with mental illness. It was the outpouring of support that he received that inspired him to build Tranquility. 

It is Joel’s personal suffering that fuels his passion for making evidence-based treatment accessible for anyone who’s currently in need.

Dr. Alissa Pencer, Co-Founder & Senior Scientific Director

Dr. Pencer is a Senior Instructor within the Departments of Psychology and Neuroscience and Psychiatry at Dalhousie University and is a Registered Psychologist in the province of Nova Scotia.  Dr. Pencer is also an Affiliated Scientist with the IWK Health Centre and the Nova Scotia Health Authority (NSHA). 

Dr. Pencer did her B.Sc. Honours in Psychology at St. Francis Xavier University and went on to do her M.Sc. and Ph.D. in Clinical Psychology at the University of Calgary. 

She previously worked within outpatient mental health services at the IWK Health Centre for over 10 years providing CBT for anxiety and mood disorders and served as the Team Leader for the anxiety clinic for several years. Dr. Pencer has been involved in several program development and evaluation initiatives including helping to start-up and demonstrating the effectiveness of CBT for anxiety groups with children and adolescents and university students. She continues to provide clinical supervision to Ph.D. clinical psychology students and psychiatry residents for assessment and cognitive behavioural therapy (CBT) for anxiety and depression. Her clinical and research interests are in the areas of prevention and treatment of anxiety disorders, obsessive-compulsive and related disorders, severe mental illness, and substance use in youth and young adults.

 
 

Funding

In pursuit of further growth and development, Tranquility has begun to have conversations about raising their next round. After the funds are secured, they will be used to continue ramping up product development, business development, expanding outside of Canada, and customer support.

Tranquility’s previous financing history included a closed seed round in January 2020. 

 

Revenue Model

Tranquility’s business model depends on the vertical. Their direct-to-consumer model allows anyone to sign-up immediately and pay a monthly subscription. When selling into employee benefits a fee is charged to the organization as a per employee per month fee, which allows any of the organization’s employees to use Tranquility free of charge.

 

Details

For more information visit:

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