Selena Gomez's upcoming mental health platform, Wondermind, secured some critical funding with a hefty donation from Serena Williams.
The Grammy winner took to Instagram to share the good news, noting her mental fitness startup was granted $5 million in a series of funding that was led by Serena Ventures -- the tennis pro's investment portfolio. Her venture fund was joined by several organizations, including Lightspeed Venture Partners and Sequoia Capital, for this fundraising round.
"This is only the beginning for @officialwondermind and our mission to democratize and destigmatize mental health" she celebrated.
Wondermind's official Instagram soon shared a statement from its co-founders: Selena, Mandy Teefy and Daniella Pierson. "This funding will be used to accelerate the building of Wondermind’s mental fitness ecosystem across our daily online content, CPG products, and original storytelling for all platforms," it read.
The good news doesn't end there. Bloomberg announced Thursday that this latest fundraising round has boosted Wondermind's valuation to $100 million.
Selena announced Wondermind, which she hopes will help normalize conversations about mental health, back in November 2021. The platform's main objective is to make "mental fitness exciting and accessible to all."
"Mental health is something that is very close to my heart, "Selena shared on Instagram when announcing her new venture. "It is so important to have places where people can come together and understand that they're not alone in their mental fitness journey."
As for Serena Williams, the pro athlete recently announced in a first-person essay on Vogue's website that she plans to "evolve" away from tennis. She reshared Selena's post to her own Instagram Story.