Mindstrong Health has officially been funded $14 million by Foresite Capital, ARCH Venture Partners, Optum Ventures and One Mind Brain Health Impact Fund (http://www.massdevice.com/neuropsych-treatment-diagnosis-platform-dev-mindstrong-health-raises-14m-series/). They are going to use this money to push their AI based platform forward. This technology was created with the intent to collect smartphone data and contrast that to the cognitive function identified in a person’s brain as they used their smartphone. This technology platform presents the possibility for massive changes in the healthcare industry. It will allow mental disorders to be properly understood and allow for a more accurate diagnosis of them.
As it is, mental disorders are identified is a very subjective way and depend greatly on the mood of the patient and are also affected by the clinical setting in which these disorders are often diagnosed. Mindstrong’s goal is to eliminate this kind of human error and instead provide a more accurate way to monitor and diagnose mental disorders. This technology is thought to be revolutionary for the medical industry. Mindstrong seeks to diagnose a mental disorder just as precisely as physical ailments are identified. Since the information and readings will be collected during the day as the person is using their smartphone, the results will be more accurate since they were not taken in a clinical setting.
Foresite Capital, one of the companies that is funding is Mindstrong, is very excited about this invention and thinks it is going to lead to huge advancements in the healthcare industry. Jim Tananbaum, CEO and Managing Director, is experienced in both investment and healthcare, and he sees Mindstrong being explosive in both aspects. In testament to his vast experience, Jim was awarded the honor of being listed in Forbes Midas List in 2017.
Jim Tananbaum’s healthcare and investment expertise is built on a foundation of extensive and impressive schooling as he attended MIT, Harvard Medical School, Yale, and Harvard Business School. He is very interested in creating healthcare franchises that prove essential in the economy and industry. Jim is optimistic that Mindstrong will be a huge moneysaving tool and also be life changing for the patients who suffer with mental disorders.
View Jim’s crunchbase profile for more information.