Behavioral health platform NeuroFlow just closed a $7.5 M Series A - Technical.ly Philly

Growth

Dec. 16, 2019 9:09 am

Behavioral health platform NeuroFlow just closed a $7.5 M Series A

The company said it plans to use the round to add employees in its sales, marketing and data science departments, and to further develop its mental health platform.
The NeuroFlow app.

The NeuroFlow app.

(Image courtesy of NeuroFlow)

Medtech startup NeuroFlow, a RealLIST honoree for the past two years, has had a busy 2019.

The producers of a mental health platform that both patients and health providers can use won a pitch competition, led a talk around mental health in the workplace at our annual Introduced by Technical.ly conference, and created partnerships with Jefferson Health and genetic testing company Genomind.

Now, at the end of Q4, the company announced it recently raised a $7.5 million Series A round of funding.

“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,” CEO and cofounder Chris Molaro said in a statement.

The company’s flagship software product — called EngageBH — allows clinicians can see data from wearable devices, assign tasks for patients to complete at home (such as meditation or journaling) and send automated motivational emails.

The round is lead by San Francisco-based Builders VC. Also participating are local VC firms Dreamit Ventures, Spring Point Partners, Red & Blue Ventures and AWT Private Investments.

The company said it plans on using the round to add employees in its sales, marketing and data science departments. (The team is currently around 30 people, a spokesperson said; see some older posted jobs here.)

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The raise will also be used to “further invest in product integrations and data science to continue building its comprehensive behavioral health and collaborative care platform,” the company reported in a press release.

“In the sea of mental health solutions, NeuroFlow stood out to us as being the one that was most ‘clinical grade,’” said Mark Goldstein, a partner at Builders VC. “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.”

NeuroFlow’s platform aggregates mental health data and builds comprehensive patient profiles, which care teams can use to identify patterns and treatment decisions. The company said it currently has about 25,000 patients on its platform, and has been implemented at more than 200 healthcare facilities across the country.

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