Saturday, December 3, 2022

Behavioral health company NeuroFlow secures $25M growth investment

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NeuroFlow, a behavioral health company, secured a $25 million investment led by growth equity impact investor SEMCAP Health, bringing its total funding to $32 million.

The company raised $7.5 million in a Series A funding round in 2019 and $20 million in Series B financing in 2021.

WHAT THEY DO

NeuroFlow’s cloud-based platform allows healthcare providers to track, assess and connect with patients between traditional office visits. The company also offers AI-driven clinical decision support with recommendations for the next steps for individual patients. 

The Pennsylvania-based company will use the funds to expand its network and increase R&D investments to grow its platform. It will also increase its workforce in all departments. 

“We’re excited to bring in a strong partner like SEMCAP to support our next stage of growth. This gives us the opportunity to meet the demand we are experiencing and to invest in a platform that helps deliver a happier, healthier quality of life for those across the spectrum of mental health needs. With this financing, we’ll focus on strategic hiring, R&D for the platform and the launch of a Spanish-language app,” James Kanka, NeuroFlow’s vice president of marketing, told MobiHealthNews in an email.

MARKET SNAPSHOT

Last month, NeuroFlow announced a collaboration with CirrusMD, a startup offering on-demand, text-based telehealth, where CirrusMD would leverage NeuroFlow’s clinical decision support platform, patient engagement tools and intervention services.

In February, NeuroFlow announced a partnership with Aflac, giving the insurance provider’s employees access to digital mental health resources via NeuroFlow’s educational content service.  



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