The popular healthcare startup Cure.fit has reportedly acquired a Bengaluru-based mental health platform Seraniti. Following the acquisition, the company will have over 70 centres for this vertical. Also, with this, it is trying to boost its mental wellness business Mind.fit.
As a part of the deal, Cure.fit will onboard Seraniti’s team of 15 therapists and its 8,000 customers. Seraniti is Cure.fit’s second acquisition for the mental wellness vertical after the integration of a1000 yoga in 2017.
The financial details of the deal have not been disclosed, however, Ankit Nagori, cofounder of Cure.fit stated that the company paid off the angel investors who had invested in Seraniti.
“We believe the acquisition is a win-win for all our clients, as it will improve convenience (eight additional locations and video sessions), offer a robust digital platform and ensure effective treatment by the best of therapists and psychiatrists,” Seraniti said.
It also mentioned that all its mental healthcare operations were acquired by and rebranded to Mind.fit starting November 1.
While Cure.fit has been scaling its fitness chain Cult and food business Eat.fit rapidly, with an annualised revenue runrate of 200 crore and 100 crore respectively, its Mind.fit business has grown at a slower pace, at an annualised run rate of 25 crore, and the founder expects it to reach 100 crore by next year.
Seraniti claims to have provided its service to over 8,000 customers so far and currently undertakes over 500 sessions a month. On the other hand, Cure.fit was founded in 2016 by Myntra cofounder Mukesh Bansal and senior Flipkart executive Ankit Nagori. The company is set to achieve a revenue of $50 million this year and $100 million in the next few quarters.