mindset Raises $8.7M Seed Funding for Artist Mental Wellness

Mindset Secures $8.7 Million in Seed Funding

Mindset, a novel platform dedicated to showcasing personal narratives from recording artists, has announced the successful completion of an $8.7 million seed funding round.

Origins in DIVE Studios

The platform’s inception stems from the experiences of Brian Nam, Eric Nam, and Eddie Nam, the co-founders of DIVE Studios, a podcast production company specializing in K-pop content. They observed that episodes featuring artists discussing their personal challenges resonated most strongly with listeners.

“We identified a distinct demand for this type of content – authentic stories of struggle and resilience,” explained CEO Brian Nam. “This realization prompted us to explore how to expand access to such valuable insights for Gen Z and young millennial audiences.”

The founders determined a dedicated platform was needed to deliver these stories in an accessible audio format, leading to the development of Mindset as an extension of DIVE Studios.

Platform Features and Content

Currently, Mindset offers four audio collections featuring artists including Jae, Tablo, BM, and Eric Nam, who also serves as a co-founder.

Each collection comprises ten episodes, ranging from 10 to 20 minutes in length. The initial episode is available for free, while full access to an artist’s collection requires a one-time payment of $24.99.

In addition to the artist collections, the app provides complimentary Boosters – short, five-minute audio clips offering bedtime stories and motivational affirmations, similar to those found in Calm.

A New Revenue Stream for Artists

Nam highlighted that Mindset introduces a fourth potential income source for musicians, beyond touring, music streaming, and endorsements. This new avenue centers on monetizing personal stories.

“The pricing structure mirrors that of concert tickets or merchandise sales,” Nam stated, offering a familiar model for both artists and fans.

Not a Therapy App

It’s important to note that Mindset is not positioned as a therapeutic application. “We are not qualified therapists and do not present ourselves as such,” Nam clarified.

Instead, the platform aims to foster a deeper connection between artists and their fans by revealing the human experiences behind the music.

Launch and Funding Details

Mindset initially launched in February as a minimum viable product (MVP). The app quickly gained traction, leading to the securing of venture funding by May.

The $8.7 million seed round was spearheaded by Union Square Ventures, with participation from prominent figures such as record executive Scooter Braun (TQ Ventures), Twitch co-founder Kevin Lin, and Opendoor co-founder Eric Wu.

Nam emphasized Braun’s strategic role, stating, “He has facilitated valuable connections, enabling us to expand into the Hollywood and Western entertainment industries, building upon our roots in K-pop.”

Future Plans

The seed funding will be allocated to content creation, team expansion, and ongoing product development.

Mindset is currently available on both iOS and Android platforms, with an official launch scheduled for September 14th. Following the launch, the platform intends to release a new audio collection from an artist or actor every two weeks. The identities of these future contributors remain undisclosed.