Mirthy Raises $1.1M to Empower Sprightly Boomers

The Evolving Landscape of Senior Socialization

As the baby boomer generation (currently between the ages of 57 and 75) and Generation X (aged 41-56) progress further into later life, the traditional image of the “senior citizen” is being redefined. Many individuals in these demographics remain active and maintain good health.

However, the transition out of the workforce often results in a significant reduction – approximately 50% – of an individual’s existing social connections. This loss can demonstrably affect overall well-being.

Furthermore, the recent pandemic and associated lockdowns exacerbated feelings of loneliness and social isolation across all age groups, but particularly among older adults.

Introducing Mirthy: A Platform for Over-60s

Mirthy is a platform designed to address these challenges by enabling individuals aged 60 and over to both host and participate in activities. These activities can be enjoyed online, with the potential for eventual in-person gatherings.

The company’s ambition is to establish itself as the primary resource for the social, physical, and financial requirements of this demographic, thereby tapping into a substantial and increasingly affluent market.

Recent Funding and Investment

Mirthy has successfully secured $1.1 million in pre-seed funding. This investment round was spearheaded by Ascension’s “Fair By Design” fund, with additional participation from Ada Ventures, Redrice Ventures, and True.

The Founders and Their Motivation

The platform was founded by Alex Ramamurthy and Dhruv Haria, who were motivated by the observed negative effects of social isolation and loneliness on the mental and social health of their own parents.

Alex Ramamurthy previously served as chairman of the Care Innovation Hub incubator. Dhruv Haria is a graduate of Cambridge University (Mathematics) and holds qualifications as an actuary and data scientist, with professional experience in both finance and technology.

Founders' Insight

Ramamurthy explained: “Both Dhruv and I directly observed the impact retirement had on our parents’ lives. We recognized how their well-being suffered due to shrinking social circles and increased periods of solitary, unstructured time.”

Mirthy’s Offerings and User Base

Mirthy provides users with access to a diverse range of activities. These include fitness classes, belly dancing workshops, history lectures, and even live piano concerts, all delivered remotely by hosts.

A significant portion of these hosts are also over the age of 60.

Since its launch in April 2020, the startup reports having attracted a user base exceeding 35,000 individuals.

Competitive Landscape

Mirthy operates within a competitive market that includes companies such as The Joy Club, Hello Revel, and GetSetUp, among others.

However, Mirthy differentiates itself by emphasizing that its content is specifically created and curated “by over-60s, for over-60s.” This contrasts with many competitors who offer intergenerational events and rely on amateur hosts driven by personal interests.