Mindstrong Health, a startup known for using smartphones to diagnose and treat neuropsychiatric diseases has raised $14 million in Series-A funding from various investors including ARCH Venture Partners, Foresite Capital, Optum Ventures and One Mind Brain Health Impact Fund. Mindstrong’s AI-powered technology monitors the patterns of interaction and typing to measure brain functioning.
According to the founder and CEO of Mindstrong Health Paul Dagum, all modern treatments are based on objective measurements except for mental health tracking, which has remained subjective. In a bid to ensure better treatment for patients with mental disorders, objective treatment procedures are required. The AI-powered technology aims at delivering continuous objective measurement of cognition levels and behavior at higher resolutions.
On his side, the co-founder, and president of Mindstrong Health Dr. Tom Insel stated that the technology marks the foundation for designing better technologies to improve mental health care experiences. He further said that smartphones have the potential of offering a global solution to mental disorders. Check out LinkedIn to know more.
The technology uses scrolling and typing patterns on a smartphone to measure brain functioning. The AI-powered technology provides information about cognition and mood biomarkers including function, memory and processing speed. In a statement, Foresite Capital managing director and CEO Jim Tananbaum praised Mindstrong Health’s team for bringing this unique technology that has revolutionized the way medical practitioners handle patients with mental disorders.
About Jim Tananbaum
Jim is the founding CEO of Foresite Capital Management, a healthcare investment fund. Before founding Foresite Capital Management in 2010, Jim had co-founded and partnered with several reputed companies. Some of these firms include Prospect Venture Partners, Theravance, Geltex, and Sierra Ventures. Given his vast investment portfolio, Jim Tananbaum can be termed as one of the most successful tech venture capital investors. In 2017, Forbes magazine named Jim Tananbaum in the 2017 Midas List of the top 100 technology venture capital investors.
Over the years, Jim Tananbaum has invested in 21 successful healthcare companies including Jazz Pharmaceuticals, Amerigroup, and Amira Pharmaceuticals. Jim holds an undergraduate degree in doctor of medicine from Harvard Medical School. He also holds a master’s degree in information theory from the Massachusetts Institute of Technology. Tananbaum later earned his MBA from Harvard Business School.