NeuroFlow, a behavioral health monitoring software powered by artificial intelligence, raised $7.5 million in a Series A financing round.
Builders VC led the round with participation from Dreamit Ventures, Red & Blue Ventures, AWT Private Investments, and Spring Point Partners.
The latest funds will help to expand the NeuroFlow’s team and further build its behavioral health and collaborative healthcare offerings.
“What started as a response to a personal connection to the mental health crisis has become a mission driven business partnering with hundreds of providers to support the overall health of tens of thousands of individuals,” said NeuroFlow CEO and Co-Founder Chris Molaro in a press release. “We’re helping patients get better, faster and improving the way care is managed. Partnering with Builders VC aligns us with a team of industry experts who understand both the challenges and opportunities in transforming the way behavioral health is addressed and treated.”
The software platform enables remote monitoring and behavioral health integration across the continuum of care, including psychology, primary care, and pain management settings.
According to NeuroFlow, nearly 25,000 patients and over 200 healthcare facilities use its platform.
“In the sea of mental health solutions, NeuroFlow stood out to us as being the one that was most ‘clinical grade,” said Mark H Goldstein, a partner at Builders VC in a press release. “They had the only solution we found that effectively connects providers and care teams to the right information and mental health resources to make their care more effective.”
According to Mercom Digital Health Deal Tracker, similar technologies that received funding include:
SonderMind, a digital behavioral health platform that matches mental health patients with therapists, completed a $3 million.
MindCare Solutions, a behavioral health company that integrates behavioral health strategies, telemedicine, and data analysis, raised $5 million.
Tridiuum – a provider of cloud-based real-time behavioral health assessment, tracking, and a software-as-a-service (SaaS) analytics platform – secured $9.5 million.
Remote health monitoring software makers raised over $1.5 billion since 2012, according to Mercom data.
