US-based mental health diagnostics technology developer Mindstrong Health secured $15m in a series B round yesterday backed by Optum Ventures, a venture capital subsidiary of healthcare provider UnitedHealth Group.
Arch Venture Partners, Foresite Capital, Bezos Expeditions and Decheng Capital also participated in the series B round.
Founded in 2014, Mindstrong Health has developed technology to passively monitor a user’s brain function through their interaction with an app. The technology is used to detect a deterioration in a user’s mental health and deliver pre-emptive care.
The money will go towards scaling Mindstrong’s business and advancing commercial deployments with the company’s partners across several healthcare verticals.
Mindstrong inked a deal with pharmaceutical firm Takeda earlier this year for the corporate to use its technology to identify digital biomarkers in schizophrenia and treatment-resistant depression.
Optum Ventures previously backed a $14m series A round in June 2017 co-led by Foresite Capital and Arch Venture Partners, with participation from Berggruen Holdings and One Mind Brain Health Impact Fund.
Paul Dagum, founder and chief executive of Mindstrong, said: “We appreciate the continued support of our early investors and we welcome Bezos Expeditions and Decheng Capital in our journey to transform brain healthcare.
“As the first company to develop comprehensive care pathways based on our passively-collected, continuous and objective measures of cognitive function and mood, we are committed to improving behavioral healthcare with delivery models that move care from episodic clinic visits to preemptive outreach care that is technology enabled.”