NeuroFlow announced Friday that it has received $750,000 from the National Science Foundation’s (NSF) Small Business Innovation Research (SBIR) program to continue expanding its digital health platform, which helps engage patients and track their behavioral health.
The four-year-old company’s software allows clinicians to see data from wearable devices, assign tasks for patients to complete at home — such as meditation or journaling — and send automated motivational emails.
This new funding is the second phase of an NSF grant awarded in 2018 which it used to roll out testing of the platform at the Corporal Michael J. Crescenz VA Medical Center. SBIR has now awarded the additional funding to support technical initiatives, including enhanced electronic health record integrations and data science efforts for the platform through artificial intelligence and machine learning, the company said in a statement.
“With the support of our research funds, any deep technology startup or small business can guide basic science into meaningful solutions that address tremendous needs,” said Andrea Belz, division director of the Division of Industrial Innovation and Partnerships at NSF, of NeuroFlow’s funding.
NeuroFlow’s platform is now being used by more than 1,000 providers and health organizations, it reported Friday. The NSF funding will allow the company to increase investments in artificial intelligence, especially in personalization and natural language processing. COO and cofounder Adam Pardes said that the funding will help the company’s growth and assist in “closing the gap” between physical and mental health.
“Especially important in today’s climate, this recognition highlights the equal importance of behavioral health in the holistic treatment of a patient,” Pardes said. “It is validating for the NSF to support our research and value our technology as it relates to addressing a major healthcare issue affecting millions of lives every day.”
Neuroflow also closed a $7.5 million Series A round of fundraising at the end of 2019 to add to its sales, marketing and data science departments. CEO and cofounder Chris Molaro recently detailed the importance of mental health resources, especially during the ongoing coronavirus pandemic, for Technical.ly.
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