Terapify

About Terapify

Terapify operates an online therapy platform connecting certified psychologists with patients, primarily targeting the Spanish-speaking market. The company was founded in Mexico City by brothers Juan Daniel Velez and Eduardo Velez. The initial concept emerged in response to the 2017 earthquakes in Mexico, as the founders noticed a significant need for emotional support and many psychologists offering free services. This led to an initial site connecting patients with therapists for post-traumatic stress, which operated without cost until December 2017 before formally launching as Terapify in 2018. The inspiration for the business is also rooted in co-founder Daniel Velez's personal struggles with depression and a suicide attempt at age 15, which fueled his mission to make quality mental healthcare more accessible.

The business model is built on a telemedicine framework, offering individual and couples therapy sessions via secure video calls. This model allows clients in over 45 countries to access mental health services. The company serves both individual consumers and corporate clients seeking to provide mental wellness benefits to their employees. Revenue is generated by taking a percentage of the therapy session fees, which are standardized on the platform. For example, as of early 2021, an individual session in Mexico was priced at 449 pesos, while an international session cost 29.9 dollars.

The platform provides tools for users to find a compatible therapist, including a matching questionnaire and detailed psychologist profiles outlining their specialties and therapeutic approaches. Terapify maintains a rigorous vetting process for its mental health professionals, reportedly accepting only 20 out of every 1,000 applicants to ensure quality. In addition to therapy sessions, the company offers supplementary resources like yoga classes, mindfulness sessions, and educational content to support user well-being. The company has received backing from investors including Y Combinator, 1984 Ventures, and Carabela.