Mindstrong Health announced that it had raised $14 million in a Series–A Funding from different investors, including Optum Ventures, Foresite Capital, and ARCH Venture. Mindstrong Health is a startup that focuses on the use of smartphones to diagnose and treat neuropsychiatric disorders. The objective of the AI powered platform is to offer continuous digital biomakers of mood and cognition. Mindstrong noted that their platform comprises processing speed, memory, attention, and executive function.
Dr. Tom Insel said that the conversion of a person’s patterns of scrolling or typing on a smartphone into particular measures of cognitive function was what excited him most about Mindstrong. The new approach of assessment is the foundation of creating advanced inventions to enhance mental healthcare. Insel noted that even though mental disorders are a worldwide health issue, smartphones offer a potential solution to the problem. Dr. Tom Insel is the co-founder and president of Mindstrong Health.
According to Mindstrong Health’s co-founder and CEO, Paul Dagum, new medicine is being manufactured based on objective measurement. In a clinical environment, tracking of mental health has been hindered by subjective reports. In order to improve the outcomes for individuals having mental health disorders, there is the need for the use of the objective measures that are applied in other chronic diseases. The firm’s technology seeks to deliver continuous and objective measures of behavior at an unmatched level of resolution. Jim posited that Mindstrong’s founding group offers unprecedented understanding of the critical challenges surrounding how cognitive health-disorder patients are treated.
About Jim Tananbaum
Jim Tanabaum is the chief executive officer of the successful Foresite Capital Partners. For three consecutive years, the executive has been named into the Forbes Midas List of Top Tech Investors. Jim is a revered authority in the industry. Notably, Jim Tananbaum has an extensive experience of more than 25 years in investing in different opportunities.
Jim Tananbaum has played an integral role in enhancing the success of different healthcare companies, including GelTex Pharmaceuticals and Theravance. He holds a B.S.E.E. and B.S. from the revered Yale University. He also has a M.D. from the esteemed Harvard Medical School and an MBA from the prestigious Harvard Business School. You can search him on Google to know more.