GO Ventures has signed an investment agreement with Mindbeat Ltd, a digital coaching platform that connects people with great coaches, an investment that should fuel Mindbeat’s international growth over the next twelve months.
Mindbeat combines virtual coaching through a video-based portal, with access to analytics and bite sized learning designed to fuel good habits, strengthen mindsets and skills, empowering people to better themselves personally and professionally, and to fully realise more their potential.
“Despite the uncertainty of the past few months, GO remains committed to investing in ideas and technology in the digital domain,” GO CEO Nikhil Patil said on the announcement of the deal. “Last year we set up GO Ventures to help us deliver on this commitment. The primary aim of this fully owned subsidiary is that of identifying and investing in tech-based start-ups. It is a sign of our ambition that GO Ventures has been ramping up its activities during a global pandemic.”
“We are humble enough to realise that to drive innovation forward, we need to have the right partners. Investing in Mindbeat is hopefully another of our successful investments over the years,” continued Patil.
Although GO has a very strong IT and telecommunications infrastructure, it also enjoys a strong track record of investing in start-ups and scaling them into large players. A prime example of this is BMIT – a success story in its own right. BMIT was grown by GO and today is listed on the Malta Stock Exchange after a very successful IPO in 2019.
“Mindbeat is a perfect example of the kind of idea that we are eager to get behind,” Nikhil Patil explained, “A Maltese entrepreneur and her team have developed an exceptional digitally-based solution to a real-life problem that is limiting millions around the world from expressing their full potential. This is a company that definitely has the capacity to make a wide-reaching impact and we are now committed to making this idea as successful as possible.”
On her part, Mindbeat Ltd founder and CEO Elisa Krantz sees this investment as being a momentous milestone for the company: “We are thrilled to be partnering with GO and GO Ventures on the road ahead – we see strong alignment in our vision for growth, as well as a deep shared passion for investing in a digital and globally connected Malta.”
“We approached investors with three key criteria in mind – we wanted ‘smart equity’ meaning investors who would bring unique talent to our board, challenging and stretching us to grow faster and better; we wanted investors who are aligned with our vision and values; and lastly investors who aligned with our funding goals,” Elisa Krantz said.
The Mindbeat platform launched in 2019 has so far built a global community of 150 coaches who can offer high impact 1:1 coaching in 22 languages across all time zones. Initial results have been highly encouraging with a wide range of clients – ranging from SMEs and high growth start-ups to global corporations – already signed up including Specsavers, Refinitiv, The Body Shop and Game Lounge.
“At GO we have experienced first-hand the power of this platform,” revealed Nikhil Patil. “It has allowed us to offer employees technical guidance from UK and USA based professionals that would not have been possible or cost-effective otherwise.”
This taps into Mindbeat’s core ambition as Krantz explained: “Our vision is to be a leader in the digital coaching and personalised learning space, beginning with a focus on Europe,” she said. “We have a team of people with backgrounds in psychology, learning, technology, operations and business all in passionate pursuit of furthering the science of personalised learning and making coaching more accessible and affordable.”
“We have exciting plans in the pipeline to develop our product, expand our coaching reach, and broaden our client footprint in Europe and globally – while continuing to grow our team locally and internationally.”
In this respect, the partnership with GO through GO Ventures will be particularly important. “Our track record proves that we know how to grow businesses. We will be devoting time and energy so that Mindbeat can benefit from that experience. It is why we feel that for start-ups with the right ideas and ambition, GO Ventures can be the ideal partner,” Nikhil Patil concluded.
More information about GO’s investment in start-ups can be found at here.