Mindstrong Health just announced that their neurological based platform was able to raise $14 million in just the first round of funding by investors. These investors include Foresite Capital, ARCH Venture Partners, Optum Ventures and One Mind Brain Health Impact Fund. This technology was created in order to allow the interaction patterns detected in smartphones to measure cognitive brain function in the user. These measurements are able to collected mood, cognition, and digital biomarkers. Simply scrolling through an email or checking a text message will lead to detection of brain function, which is revolutionary for the healthcare industry.
This AI based technology is going to be revolutionary for the mental health industry and it will be able to help all the people who suffer from mental health disorders. Mental health is a rising epidemic all over the world and doctors still only have a limited understanding of it. The diagnosis process is very clinical and considered to be subjective in comparison to more physical ailments like heart issues or blood cell counts. Mindstrong Health provides an alternative to the current way of medical treatment and understanding and will lead to to a huge advancement in how mental disorders are understand and studied. This will provide doctors and scientists with vast amounts of information and data that is the opposite of subjective.
Jim Tananbaum is the CEO and founder of Foresite Capital, which is one of the main investors in the Mindstrong Health AI platform. Tananbaum has a long history in the healthcare and investment world, which all began during his time studying at Yale, Harvard Medical, Harvard Business, and MIT. He currently has about 25 years of experience in the healthcare, investing, and entrepreneurial industries. He uses this expertise to focus on financial, franchise, and operational opportunities in the business sector of the healthcare world.
In 2017, Jim was awarded the honor of being recognized by Forbes magazine after he was added to their Midas List in response to his qualities as an investor. He has founded and promoted a variety of functional healthcare franchises that work to push forward the economy and also promote innovate healthcare advancements.