Pace Raises $18M and Launches New App

SAN FRANCISCO, Dec. 15, 2021 /PRNewswire/ -- Pace, the modern support network that helps people connect with custom-matched strangers in groups moderated by world-class facilitators, announced today that it has closed a Series A funding round of $13 million, led by Pace Capital with participation by Sequoia and BoxGroup, following a previously-unannounced $5 million Seed round led by Sequoia Capital. 

Pace is an emotional health platform designed by tech executives from companies like Affirm, Linkedin and Pinterest and clinical psychologists from Stanford and the National Center for PTSD. On Pace, people join Pace Groups, which are groups of 7 strangers matched together by common life experiences and moderated by experienced group facilitators who meet weekly to support each other through personal growth. Facilitators are accepted through a rigorous evaluation process and all come from experienced backgrounds in coaching or as a mental health provider. The latest version of the app, launched today, lets Pace members from across the platforms' hundreds of groups peek in on what other groups are like, sharing session takeaways from facilitators and anonymous profiles of members.

Pace is on a mission to become the modern support system, bringing together strangers virtually to fill societal gaps left by declining physical communities, fewer close friends, and the overly-polished nature of social media. Studies show the stark need: A 2020 survey from Cigna found that 61% of Americans feel lonely. Meanwhile, it's been found that loneliness may be as damaging to our health as smoking 15 cigarettes a day. The Pace approach is working: 75% of participants polled noticed an improvement in their authenticity of connection after participating in a Pace Group.

When people sign up for Pace, they complete a matching interview and fill out written surveys to help match them with the best peer group for their needs. Members are set up in Pace Groups of 7 people, who meet once a week for 90-minute sessions within the Pace app via video chat. Group sessions follow Pace's custom-designed formats and are led by experienced facilitators, who share takeaways in the app after each session. Group members can also chat with each other between meetings via the app.   

Pace Groups cost $89/month, a limited time price that is available through the end of February 2022. All new group members go through a 10-week launch program. After completing the launch program, members can stay in their current group or explore over 100 different Pace Groups each month, continuing the work to go deeper into creating relationships, insight, and change. 

"Too often, people feel like they're surrounded by social media distractions and noise, while feeling lonely and unseen. The world may be 'connected,' but are we understood?" said Jack Chou, co-founder and CEO of Pace. "Pace has a mission to connect people with supportive groups where they can be real, be vulnerable, open up, and get insights and fresh perspectives from diverse viewpoints."

Pace is not therapy, but it can complement therapy or other mental health services. There are several applications where Pace Groups are especially powerful:

• Overcoming Life Challenges: For people who are going through a divorce, career change, or other significant life events, Pace can be a place to have honest, vulnerable conversations and get helpful insights and ideas from a supportive group of peers.
  
  
• Achieving Personal Growth: If people feel stuck, isolated, or needing new motivation and energy to tackle their goals, Pace can provide new inspiration and expand peoples' networks of supportive relationships. Use Pace to be challenged and supported as you explore new horizons in life.
  
  
• Building Better Relationships: Pace Groups offer a chance for people to express vulnerability, have honest conversations, get in touch with their emotions, and be understood for who they are, without the feelings of superficiality and status competition that sometimes get attached to social media.

"We believe in the power of emotional connection; a Pace Group is intended to fill a different role in people's overall social mental health," said Cat Lee, co-founder and COO of Pace. "Pace Groups offer the type of relationship and support you can only get from your peers, and these peer relationships are just as, if not more, critical to a person's overall well being. Pace is for everyone, whether you already go to therapy or just want to connect with a supportive group of people in a way that will inspire and re-energize you."

As demand for telehealth and wellness services has grown during the pandemic, the company's investors believe that Pace is well-positioned to be a leader in the space.

"People, employers and insurers are starting to sound the alarm about the health impacts of loneliness, and the resulting impacts to productivity and the economy," said Jordan Cooper, General Partner at Pace Capital, and lead investor in Pace's Series A round. "The team at Pace uses a mix of technology and humanity to address this loneliness epidemic. They are building a new model for building a network while promoting personal development and mental wellbeing."

The company intends to use the Series A round to further build and enhance its platform and accelerate growth of its user base to build an accessible and affordable solution for people looking to improve their lives. Learn more at Pace.group.

About Pace
Pace is a modern support network that brings together small groups of people for weekly 90-minute meetings facilitated by licensed mental health professionals. Pace is not therapy; it is for people who are thriving in many aspects of their lives, but who are going through challenges or feel stuck in one or more areas like career, relationships, or family, but who may not need therapy or counseling right now. Pace was founded by tech executives (Affirm, Pinterest) and clinical psychologists (National Center for PTSD, Stanford) in 2020 and is headquartered in the Bay Area. Learn more at Pace.group

Media Contact for Pace:
Rebecca Silliman, Whipsmart PR
[email protected]
(510) 254-7615

SOURCE Pace

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