MindBeacon Software

What MindBeacon Software does

MindBeacon Software Inc., headquartered in Toronto, operates MindBeacon — a virtual mental health therapy clinic delivered through a secure web platform (platform.mindbeacon.io) and native iOS/Android mobile apps ('Beacon - Modern Mind Health'). The company, originally founded in 2017 and now a wholly owned entity within GreenShield (Green Shield Health Inc.), Canada's only national non-profit health care and insurance organization, serves individual Canadian residents aged 16+ (and US residents 18+ in select jurisdictions) seeking evidence-based therapy. Its core offerings are therapist-guided internet-based Cognitive Behavioral Therapy (iCBT) Programs — a 12-week structured program of readings, exercises, and asynchronous therapist messaging — paired with Live Sessions for scheduled 60-minute video or phone therapy, and an In-Person Sessions & Assessments pathway routed through affiliated CBT Associate Clinics. The underlying platform uses 256-bit SSL encryption, native mobile apps, secure messaging, and live video/phone booking, and is delivered with full compliance posture against HIPAA (US), PHIPA, PIPEDA, FIPPA, Ontario College of Psychologists health custodian rules, AICPA SOC, WCAG 2.0 AA, and AODA ISAR.

MindBeacon operates a multi-channel GTM combining direct-to-consumer self-serve sign-up, B2B2C distribution through nine major Canadian insurers (Manulife, Pacific Blue Cross, League, Desjardins, SSQ, HealthAssist, Medavie Blue Cross, La Capitale, Alberta Blue Cross), employer-sponsored Workplace Programs (e.g., LCBO), and a Healthcare Referrals Program for hospitals and regulated health professionals. Revenue is generated through per-session Live Therapy fees, multi-year Guided CBT subscriptions, enterprise Workplace Program contracts, insurance direct-billing (typical plan coverage $500–$1,000), and government/public funding reimbursement (e.g., Ontario Health), with a free Stronger Minds wellness tier serving as a freemium top-of-funnel. The platform supports therapists across all 13 Canadian provinces/territories and US-licensed providers, with reported scale of 175+ new therapy starts per day, 600+ daily Canadian connections, 88% client satisfaction, and a 4.8/5 client rating for Live Session therapists.

Prior to its acquisition by GreenShield, MindBeacon operated as a TSX-listed public company (ticker MBCN), raising approximately $33.7M across two institutional rounds — a $20M round in September 2018 led by TELUS Global Ventures and a $13.68M round in November 2019 led by GreenShield with Manulife Financial and TELUS Global Ventures. Since the acquisition, MindBeacon has continued to operate under its existing brand as 'MindBeacon by GreenShield,' with services continuing without interruption and the platform/licensing structure maintaining MindBeacon Software Inc. as the IP owner licensing to operating subsidiary MindBeacon Health Inc.

Name

MindBeacon Software

Legal name

MindBeacon Software Inc.

Website

https://www.mindbeacon.com

Company type

Private

Founded year

2017

Operating status

Acquired

Headcount range

101–250 employees

Short description

MindBeacon operates a virtual mental health therapy clinic in Canada (and select US states), delivering therapist-guided internet-based CBT programs, live video/phone therapy, and in-person assessments via affiliated clinics. It serves individual consumers, employers, healthcare providers, and nine major Canadian insurer distribution partners as a wholly owned entity of GreenShield.

Ownership category

akta.pro rank

Product category

Digital Mental Health Services

NAICS

Offices of Physicians, Mental Health Specialists (621112), Outpatient Mental Health and Substance Abuse Centers (621420), Offices of Mental Health Practitioners (except Physicians) (621330)

SIC

Services-Specialty Outpatient Facilities, Nec (8093), Services-Misc Health & Allied Services, Nec (8090)

akta.pro primary industry

General Mental Health Therapy Platforms (Talk Therapy) (HLALAEAA)

akta.pro secondary industries

Psychiatry & Medication Management Platforms (HLALAEAB), Neurodevelopmental & Behavioral Therapy Platforms (ADHD/Autism/Behavioral Coaching) (HLALAEAJ), Couples & Family Therapy Teletherapy Platforms (HLALAEAG), Meditation Apps, Digital Courses & Online Communities (HSADAJAH)

Keywords

• Digital mental health
• Online therapy services
• Cognitive behavioral therapy
• Behavioral health platform
• Telehealth mental health

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Others

Revenue model

1. Therapy Services (Live Sessions and Guided CBT): Per-session or per-program fees for individual users, with flexible price points designed to be affordable; users pay via major credit cards or via direct billing to insurers when authorized.
2. Workplace / Employer Programs: B2B contracts with employers to provide mental health benefits to employees, often funded through group benefits plans and insurance carriers.
3. Free Wellness Tier (Freemium): Free Mental Wellness newsletter, invites to monthly Ask an Expert events, and free mental wellness content; intended to drive top-of-funnel conversion to paid services.
4. Government / Publicly Funded Program Reimbursement: Payment by funding bodies (e.g., Ontario Health) for publicly funded mental health programs in which MindBeacon participates, with required reporting back to the funder.
5. Licensing of MindBeacon Platform and Brand: Website and online platform are owned by MindBeacon Software Inc. and licensed to MindBeacon Health Inc. and its subsidiaries (an internal intercompany licensing structure within the MindBeacon / GreenShield group).

Pricing tiers

Go-to-market motion5 records

Distribution channels6 records

Marketing channels7 records

Core offering

MindBeacon operates a secure virtual mental health therapy clinic delivered through its web platform (platform.mindbeacon.io) and native mobile apps. The clinic offers therapist-guided internet-based Cognitive Behavioral Therapy (CBT) programs, live video and phone therapy sessions, and in-person mental health assessments via affiliated CBT Associate Clinics. It also distributes free mental wellness content and serves employer workplace programs and healthcare provider referrals.

Product overview

MindBeacon is now part of GreenShield and operates a single core platform — the MindBeacon Virtual Mental Health Therapy Clinic, delivered through platform.mindbeacon.io and supplemented by native iOS and Android mobile apps (Beacon – Modern Mind Health). On top of this shared clinic, MindBeacon offers several service modules: Guided CBT Programs (Therapist-Assisted iCBT) for asynchronous messaging-based therapy, Live Sessions for scheduled video or phone therapy, In-Person Sessions & Assessments routed through CBT Associate Clinics, a free Mental Wellness Content layer (Stronger Minds), and Workplace Programs plus a Healthcare Referrals Program that route clients into the same underlying clinic through employer and clinical partners. All modules share one private client account with unlimited access to therapist messages, content, and history.

Differentiator

Problem solved

Functional benefit

Brands

• Stronger Minds: Mental wellness content program referenced on the website (mindbeacon.com/strongerminds-home).
• CBT Associates

Products and services

• MindBeacon Virtual Mental Health Therapy Clinic Secure online therapy clinic delivered through the MindBeacon online platform (platform.mindbeacon.io). Provides a single private account from which clients access a range of mental health supports delivered by licensed professionals, with unlimited access to account history including therapist messages and content.
• Guided CBT Programs Therapist-guided internet-based Cognitive Behavioral Therapy program in which a licensed therapist assigns readings and exercises to help clients build resilience. Typically 12 weeks of therapist interaction with responses within approximately two business days, plus an additional 40 weeks of access to materials. Available in English and French.
• Live Sessions Video or phone therapy sessions with a chosen licensed therapist, with appointments typically available the next day. Sessions are 60 minutes (50 minutes of treatment plus 10 minutes of clinical documentation), operated seven days a week, 8 a.m. to 9 p.m. in the therapist's time zone. Compatible with Chrome, Firefox, or Edge on desktop, laptop, or tablet.
• In-Person Sessions & Assessments In-person therapy appointments and mental health assessments offered through MindBeacon's affiliated CBT Associate Clinics, complementing the virtual clinic for clients who require or prefer face-to-face care.
• Beacon - Modern Mind Health (Mobile App) Native mobile app providing clients access to their MindBeacon therapy program, therapist messaging, and program materials on Apple iOS and Android devices. Live therapy sessions currently require the web browser rather than the mobile app.
• Stronger Minds (Mental Wellness Content) Free mental wellness content layer providing a monthly Mental Wellness newsletter, invites to monthly 'Ask an Expert' live online events, and access to the virtual therapy clinic. Free to join at any time.
• Workplace Programs Employer-sponsored deployment of MindBeacon services for employees, including free access codes and promotional links provided through partner employers, enabling use of Guided CBT Programs and Live Sessions at no cost to the employee.
• Healthcare Referrals Program Program enabling healthcare providers (e.g., hospitals) to refer patients into MindBeacon's therapist-guided and live therapy services, with continuity of care back to the referring provider on discharge.

Quantifiable outcome

• 88% of clients satisfied with the support they receive from their therapist
• +4 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature7 records

Partnerships

13 partnerships are on record, tiered flagship / parent entity, major insurance partner, notable enterprise workplace partnership, core in-person delivery partner and standard app distribution partners.

• GreenShield (Green Shield Health Inc.)flagship / parent entityStrategic or Co-development PartnerMindBeacon is now part of GreenShield, Canada's only national non-profit health care and insurance organization. MindBeacon services remain available under the MindBeacon by GreenShield brand. The MindBeacon website and platform are owned by MindBeacon Software Inc. and licensed to MindBeacon Health Inc. and its affiliates within the GreenShield group.
• Manulifemajor insurance partnerChannel Partner/ Reseller/ DistributorManulife is listed as a 'Covered by' insurance partner on the MindBeacon website, indicating that eligible Manulife plan members can access MindBeacon services through their benefits coverage.
• Pacific Blue Crossmajor insurance partnerChannel Partner/ Reseller/ DistributorPacific Blue Cross is listed as a 'Covered by' insurance partner on the MindBeacon website, providing benefits coverage of MindBeacon services to its members.
• Leaguemajor insurance partnerChannel Partner/ Reseller/ DistributorLeague is listed as a 'Covered by' benefits platform on the MindBeacon website, enabling League clients to access MindBeacon through their employee benefits.
• Desjardinsmajor insurance partnerChannel Partner/ Reseller/ DistributorDesjardins is listed as a 'Covered by' insurance partner on the MindBeacon website, offering coverage of MindBeacon services to its members.
• SSQ Insurancemajor insurance partnerChannel Partner/ Reseller/ DistributorSSQ is listed as a 'Covered by' insurance partner on the MindBeacon website, extending benefits coverage of MindBeacon services to SSQ plan members.
• HealthAssistmajor insurance partnerChannel Partner/ Reseller/ DistributorHealthAssist is listed as a 'Covered by' insurance partner on the MindBeacon website, providing coverage of MindBeacon mental health services.
• Medavie Blue Crossmajor insurance partnerChannel Partner/ Reseller/ DistributorMedavie Blue Cross is listed as a 'Covered by' insurance partner on the MindBeacon website, providing benefits coverage of MindBeacon services to its members.
• La Capitalemajor insurance partnerChannel Partner/ Reseller/ DistributorLa Capitale is listed as a 'Covered by' insurance partner on the MindBeacon website, providing coverage of MindBeacon mental health services.
• Alberta Blue Crossmajor insurance partnerChannel Partner/ Reseller/ DistributorAlberta Blue Cross is listed as a 'Covered by' insurance partner on the MindBeacon website, providing benefits coverage of MindBeacon services to its members.
• LCBO (Liquor Control Board of Ontario)notable enterprise workplace partnershipGTM or Marketing PartnerLCBO partnered with MindBeacon to provide online supports that 'enable Ontarians to sip smarter over the festive season' (December 2021 press release). The program leveraged MindBeacon's digital therapy tools to support safer alcohol consumption.
• CBT Associate Clinics (cbtassociates.com)core in-person delivery partnerImplementation/ SI/ Consulting PartnerAffiliated entity that delivers in-person therapy appointments and mental health assessments, integrated with MindBeacon's digital clinic; listed as an associated website in the AODA policy and HR contact page.
• Google Play Store / Apple App Storestandard app distribution partnersChannel Partner/ Reseller/ DistributorDistribution partners for MindBeacon's mobile applications (Android app package com.mindbeacon; iOS app 'Beacon - Modern Mind Health'), enabling consumer download and mobile therapy access.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Telus Health: Telus Health is the largest Canadian digital health platform offering virtual care including mental health services; directly competes with MindBeacon in insurer-distributed mental health benefits and shares investors (TELUS Global Ventures).
• BetterHelp: Largest direct-to-consumer online therapy marketplace globally; competes for self-pay Canadian and US users seeking virtual therapy and serves as a benchmark for digital therapy scale.
• Talkspace: Public online therapy company providing text, audio, and video therapy sessions to individuals and via B2B partnerships with health plans and employers; overlaps MindBeacon's therapist-guided messaging and live session model.
• Lyra Health: Enterprise-focused mental health benefits provider serving large employers; directly comparable to MindBeacon's Workplace Programs motion and insurer/employer B2B2C distribution.
• Headspace Health: Combined Headspace (meditation/wellness) and Ginger (on-demand coaching/therapy) platform serving consumers and enterprise mental health benefits; competes across MindBeacon's wellness content and therapy tiers.
• Amwell: Large US telehealth infrastructure provider offering behavioral health modules to health plans and providers; comparable in enabling insurer-distributed virtual mental health care at scale.

Direct peers

• Inkblot Therapy: Canadian virtual therapy platform connecting users with licensed therapists via video sessions; competes head-to-head with MindBeacon's Live Sessions offering in the Canadian market.
• Maple: Canadian virtual care platform offering online therapy and mental health consultations; comparable in targeting Canadian consumers and employers with digital mental health services.

Emerging players

• Wellin5: Canadian online counseling platform offering video sessions with registered therapists, often covered by Canadian benefit plans; competes with MindBeacon's Live Sessions in the B2B2C insured channel.
• Wysa: AI-driven mental health chatbot combined with human therapist access, sold to employers and health plans; comparable as a digital-first, employer/insurer-distributed mental health solution.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/mindbeacon

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MindBeacon Software