Owl Insights, a provider of precision-guided behavioral health care management platform, announced the completion of equity financing from a syndicate of investors led by Ascension Ventures and co-led by Blue Venture Fund.
First Trust Capital Partners and existing investors, including The Entrepreneurs’ Fund, and Portland Seed Fund, also participated in the financing round.
Through its platform, the company offers a scalable strategy to integrate measurement-based care and clinical analytics into existing behavioral health treatment workflows covering all major behavioral health conditions. Further, the platform supports health systems and independent behavioral health organizations to expand access, improve quality care delivery, better manage costs, and support the preparation for value-based care.
Eric Meier, chief executive officer of Owl Insights, said: “This financing further validates our business strategy and momentum during what has been a very tumultuous year for the healthcare industry, with millions of Americans of all ages suffering from mental and behavioral health conditions. There has never been a greater need to improve lives by harnessing innovation, technology, telehealth, and data to improve access, guide care, and truly understand the effectiveness of treatment.”
Founded in 2013, Owl Insights has raised $2.2 million to date. The company employs more than ten people with an office in Portland, Oregon.
Tom Hawes, MD, managing director of the Blue Venture Fund, said, “Owl Insights’ strong growth during the past 18 months demonstrates its value proposition for improving quality through innovation in a market that has lagged behind other healthcare segments in the application of technology. We look forward to working with Ascension Ventures as strategic partners to continue to build on Owl Insights’ position in the behavioral health marketplace.”
According to the latest Mercom funding report, practice management software companies raised $233 million in the first half of 2020. Olive, an AI-enabled workflow automation software for hospitals, secured $106 million in funding. The round was led by General Catalyst and Drive Capital, along with Ascension Ventures, Oak HC/FT, and SVB Capital.