“Toronto-based Inkblot Therapy, which uses matching algorithms to connect clients with mental health counsellors, has raised $700,000 CAD for the second tranche of its private placement. This second portion of funding brings the total raised in Inkblot’s private placement to $1.7 million CAD.

Investors include Amplify Capital (formerly MaRS Catalyst Fund), with participation from Good&Well, Active Impact Investments, The Good Fund, and several Toronto-based angel investors. Inkblot raised $1 million CAD in the first tranche of this round of funding in January.

Luke Vigeant, co-founder and CEO at Inkblot, told BetaKit since the company completed the first portion of this raise, Amplify Capital and Good&Well doubled their subscription amount, and the startup was able to secure some new investors. Inkblot was originally aiming to raise an additional $500,000, which makes this round oversubscribed by $200,000.

This funding will be used to grow Inkblot’s corporate client base in Canada and the United States, as well as support its key partners and provider network in the United States, in order to meet demand south of the border.

“This investment comes at a pivotal time in the world of virtual mental health services,” said Vigeant. “It’s been our busiest week in the history of the company, we’re working really hard to ensure all of the companies, schools, and people reaching out to get additional support during this time of need.”