TORONTO, ON –/COMMUNITYWIRE/– LifeSpeak Inc. (“LifeSpeak” or the “Company”) (TSX: LSPK), the mental health and wellbeing platform for employee and customer-focused organizations, today announced the latest generation of its platform, LifeSpeak 5.0.
The newest version of the software-as-a-service (SaaS) – based platform makes it even easier for employees, customers, and their family members to find and engage with the most relevant expert-led content to improve mental health and wellness outcomes. LifeSpeak 5.0 includes the new Learning Hub and Training Hub features, enhanced functionality for discovery, a “bulletin board” option for companywide communications, and a new, intuitive design for improved user experience and increased ease of use.
“LifeSpeak continues to lead the market, providing our clients and partners with the best quality solutions to meet their organization’s mental health and wellbeing needs. The latest updates and features to the LifeSpeak platform are the result of our learnings and experience working with hundreds of our customers, which include some of the world’s leading organizations,” said Michael Held, CEO, LifeSpeak. “As our latest research has shown, business leaders recognize the value of investing in mental health support but still need help meeting the individual needs of their employees. We are uniquely positioned to help more businesses and organizations close this gap as we execute on our mission to help organizations destigmatize and improve the mental health of their people.”
LifeSpeak 5.0 removes barriers to accessing mental health support by optimizing the pathway towards expert-led education resources. The platform’s latest search functionality makes it easy for users to discover specific content topics across a range of formats, while video pages provide recommended connections to related tools and tip sheets, as well as EAPs and other external resources. The Learning and Training Hub houses customized content “playlists” that provide an easily accessible, curated selection of educational resources on a specific topic, giving business leaders the ability to put critical content front and center. It also offers the option to set it as either mandatory training or optional learning.
LifeSpeak’s client bulletin board enables employers and partners to communicate directly with their employees and customers and helps to destigmatize mental health challenges. This feature facilitates important connections that drive usage, such as announcements to employees, messages from business leaders about their commitment to employee mental health, upcoming wellness initiatives, transcripts from LifeSpeak Mental Health Marathon events, and more.
“LifeSpeak 5.0 was designed to address direct feedback from our global client base and propelled by the urgent and ongoing global need for mental health education that can be confidentially accessed anytime and anywhere,” said Anna Mittag SVP, Product and Services, LifeSpeak. “Clients that have transitioned to the new platform are delighted with the enhanced user experience and communication capabilities. They are especially excited about the new Learning Hub feature, which was built in response to demand from our clients to promote specific content on topics such as DEI, depression, and anxiety. This is the most intuitive and supportive version of the LifeSpeak platform yet.”
As LifeSpeak continues to grow its global footprint, the Company has improved its multi-language capabilities, increasing translations to twelve languages to meet demand from around the world. Used already by numerous leading insurance and health plan providers, LifeSpeak is developing additional features to reach new growth markets, including university campuses and small businesses. More than 80% of existing LifeSpeak clients and partners have seamlessly moved to the 5.0 platform, and the upgrade comes at no extra cost.
Following its IPO in July 2021, LifeSpeak has made three key acquisitions, comprising digital-first caregiver support provider, EnCompass Education Solutions, Inc. branded as Torchlight, online wellness company LIFT Digital Inc., and cognitive behavioral therapy platform, ALAViDA Health Ltd. With a client renewal rate of approximately 95% and 70 trainings on average per 100 employees for its enterprise clients over the course of a year -– these updates, combined with resources through its acquisitions, position LifeSpeak as a best-in-class mental health and wellness solution for businesses and organizations.
To learn more about the LifeSpeak platform, please visit https://lifespeak.com/what-we-offer/platform-overview/
About LifeSpeak Inc.
LifeSpeak is a leading software-as-a-service provider of a platform for mental health and total wellbeing education for organizations committed to taking care of their employees and customers. With 17+ years of experience creating and curating thousands of expert-led micro-learning videos and other digital content, LifeSpeak’s proprietary library’s depth and breadth of easily consumable content helps companies around the world support their people anytime and anywhere. LifeSpeak serves a diverse global client base across many industries and sectors, including Fortune 500 companies, government agencies, insurance providers, and other health technology firms. LifeSpeak is the parent company of LIFT Digital Inc. (“LIFT” or “LIFT session), ALAViDA Health Ltd. (“ALAViDA”), and EnCompass Education Solutions (“Torchlight). To learn more, follow LifeSpeak on LinkedIn (http://www.linkedin.com/company/lifespeak-inc), or visit www.LifeSpeak.com.
This press release may include “forward-looking information” within the meaning of applicable securities laws. Such forward-looking information may include, but is not limited to, information with respect to our objectives and the strategies to achieve these objectives, as well as information with respect to our beliefs, plans, expectations, anticipations, estimates and intentions, including our goal to help organizations destigmatize and improve the mental health of their people.
In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology and phrases such as “forecast”, “target”, “goal”, “may”, “might”, “will”, “could”, “expect”, “anticipate”, “estimate”, “intend”, “plan”, “indicate”, “seek”, “believe”, “predict”, or “likely”, or the negative of these terms, or other similar expressions intended to identify forward-looking information, including references to assumptions. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts nor guarantees or assurances of future performance but instead represent management’s current beliefs, expectations, estimates and projections regarding possible future events, circumstances or performance.
Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that, while considered reasonable by LifeSpeak as of the date of this release, is subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking information include, but are not limited to, the risk factors identified under “Risk Factors” in LifeSpeak’s prospectus dated June 28, 2021 (the “IPO Prospectus”), and in other periodic filings that LifeSpeak has made and may make in the future with the securities commissions or similar regulatory authorities in Canada, all of which are available under LifeSpeak ‘s SEDAR profile at www.sedar.com. LifeSpeak undertakes no obligation to publicly update any forward-looking information, except as required by applicable securities laws.
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