It might seem to be there may be an endless sea of psychological health-focused startups within the digital well being world, however the ones that make themselves stand out are nonetheless doing a fantastic job of securing capital. Philadelphia-based NeuroFlow is an instance.
On Thursday, the startup introduced that it had raised $25 million in a development capital spherical led by SEMCAP Well being. The behavioral well being integration software program supplier has now raised about $57 million to this point, Adam Pardes, co-founder and COO, mentioned in an interview.
Based in 2016, NeuroFlow’s purpose is to combine behavioral well being into total healthcare, in response to Pardes. By undertaking this, he mentioned the startup’s expertise has important potential to “enhance affected person lives, scale back burden on suppliers and scale back pointless prices to the healthcare system.”
The corporate’s platform permits suppliers to offer sufferers behavioral well being assessments that may detect a variety of situations, together with nervousness and melancholy. The platform engages with sufferers by giving them personalised self care actions and permitting them to log day by day insights like sleep patterns and temper scores. This allows the platform to measure sufferers’ progress and replace their danger ranges.
The platform additionally provides suppliers AI-powered medical choice help instruments to find out the most effective care plan for every affected person.
“It’s distinctive as a result of then we’ve that suggestions loop,” Pardes mentioned. “We aren’t simply an app, however somewhat a system that our purchasers can use for particular medical wants and use instances.”
NeuroFlow sells its expertise primarily to well being methods and payers, although the Division of Protection can be a buyer. Different clients embrace Magellan Well being, Trinity Well being and Bozeman Well being. The platform reaches about 15 million sufferers, in response to Pardes.
The startup is utilizing the funds it has raised to broaden its gross sales, enterprise growth and consumer success groups, in addition to enhance its advertising and marketing funds. A few of the funds may even go towards product enhancements, as NeuroFlow is engaged on increasing its capabilities in Spanish and different languages, Pardes mentioned.
However NeuroFlow is actually not the one digital well being startup promising to enhance sufferers’ psychological well being. Its rivals embrace Live performance Well being, SilverCloud Well being and Mindoula Well being.
To Pardes, NeuroFlow differentiates itself with its skill to mix efficient affected person engagement expertise with choice help instruments for medical workers.
“There’s a number of level options. There’s been a whole bunch of hundreds of apps associated to psychological well being on the App Retailer, however they usually don’t hook up with anybody on the care workforce aspect,” he mentioned. “After which there’s several types of medical choice help packages or companies, however these usually don’t have a affected person engagement or person engagement aspect, so what we do with that mixture is fairly distinctive.”
Photograph: Nuthawut Somsuk, Getty Photographs