# Final Investor Update  | Mindcurrent

- Canonical URL: https://wefunder.com/feed/161223
- Entity ID: wefunder:feed_item:161223
- Published at: 2023-06-30 19:43:00 UTC
- Updated at: 2025-07-16 17:18:07 UTC

## Author
Sourabh Kothari

## Subject
Mindcurrent

## Content
Hi everyone, I’m sorry you haven’t got an update from me in a long time.&nbsp;Unfortunately, this is one of our final updates as we’re in the process of winding down Mindcurrent. After 4 years and almost a million in total investments, we were unsuccessful.The short update here is that in the coming months we’ll prepare the final paperwork for dissolution of the company.For those of you who are interested, we’ve prepared a longer update that recaps the entire venture. Investor Recap of Mindcurrent Inc.Prepared by Sourabh Kothari, Co-Founder and CEO2019Mindcurrent was founded in 2019 by me and my friend, Daniel Cunningham. We’re still the largest shareholders. With more than half of the total funds invested, and lost, coming from our families.&nbsp;Our vision with Mindcurrent was to bring daily wellness in a personalized manner to distributed employees. After interviewing 8 psychologists we found Dr. Drew Brazier, an expert in performance psychology and executive coaching.To design and build the Mindcurrent app we brought on a development team. But this team came with a very high monthly cost. That quickly absorbed the initial funds Daniel, I, and a few close friends had invested. The early prototypes of Mindcurrent were attractive, and we gained thousands of beta users. But they all churned with days of downloading the app, as it didn’t present a value proposition they could use day after day.We also had a great disagreement between our development lead who wanted to build a consumer app, whereas Daniel and I had always envisioned a B2B product. After 2 more attempts at consumer-facing apps, we separated from our initial development and brought on an outside development vendor.2020By early 2020 we had signed on a few corporate clients with our simplified app experience. Without any additional development funds we made the decision to send our daily recommendations to our clients via Slack and Microsoft Teams. This quickly became far more popular than the use of our app.It was also in 2020 that we won a contract with the Nobel-prize winning Physics lab at Arizona State University. Our company helped them research the emotional changes that can be stimulated with changes in lighting. This was a groundbreaking project, but funding for this lab fell short as the pandemic dramatically affected ASU, and many other universities.&nbsp;With a few clients and some early success, we raised a crowdfunding round for some working capital to grow the company with our Slack and Teams based employee wellness service.2021In 2021 we noticed every deal we were working on was being routed to HR leaders for budget approval. This wasn’t the case when we started, as managers and executives were buying Mindcurrent directly for their teams. The HR buyer was new to us, and they weren’t willing to invest in a wellness solution for employees without data on daily usage and how it improved productivity.&nbsp;This was a major issue. Firstly, because we didn’t have enough funds to develop a dashboard for our new set of buyers. Secondly, because we had built the company and engagement with our users with the promise of anonymity. Thus, we lost every deal we were working on with HR buyers.&nbsp;As we were considering our next steps, my family was hit with a personal tragedy. I lost my father in the Delta COVID wave. And I had to take a number of weeks off to set things up for my mother in India.When I returned, Drew and Daniel were struggling with their own personal and health issues. To support his family, Drew had to step down and take on other work.2022In 2022 we kept the Slack and Teams based service going for our existing customers. But without a solution for HR buyers we couldn’t grow. So for almost 2 years I’ve funded our operations out of my own pocket. As we took losses each month.&nbsp;At the end of last year I lost the one part-time team member we had. Who was supporting our customers on Slack and Microsoft Teams. That’s when we decided to stop, to cease operations.&nbsp;Our clients were devastated. They didn’t have any other service like ours, and even offered to pay us more each month. But it was too little too late. We were in a great deal of debt, with no signs of growth. So we had to let them go.2023We are dissolving the company, representing a total loss. With a mountain of debt, and without the team we once had we simply don’t have other options.Our entire team regrets the losses our investors have taken due to Mindcurrent. Financially, it has been a disaster for us co-founders and taken a great toll on our health.I hope these details are helpful. We’ve always been transparent. For what it’s worth, we still believe there’s a viable market out there for personalized employee support. Because people are struggling everyday, and many good people are getting burned out.We are extremely grateful for all our investors and partners and for their tremendous support.Please feel free to reach out to me with any questions or suggestions you may have.Thank you.Sourabh KothariCo-Founder and CEO(415) 418 0195sourabh.kothari@mindcurrent.io&nbsp;