Mental Healthtech Company NeuroFlow Raised A $25M Growth Round
Plans for the round include investing in R&D for its tech platform and hiring across all teams. The news follows the company’s recent move to a new Center City office.
The company makes a platform that facilitates mental healthcare management for patients in between traditional office visits. Last year, NeuroFlow scaled its operations in data analytics, artificial intelligence and direct health record integrations. Its flagship software allows clinicians to see data from wearable devices, assign tasks such as meditation or journaling for patients to complete at home, and send automated motivational emails.
The $25 million round was led by SEMCAP Health, which NeuroFlow called a “new strategic partner.” With the funding, NeuroFlow will keep expanding its referral network, deepen relationships with payers and providers to “identify and triage individuals with behavioral health needs across the spectrum of care.” The company will also invest in further R&D for its tech platform, and increase headcount across all departments to “support rapid growth.”
“The company’s thoughtful approach to patient experience, enterprise workflows, and clinical content is helping healthcare organizations do more with less — clinicians use technology to engage millions of in-need patients to improve outcomes and reduce encounters in expensive, supply-constrained medical settings,” said Ralph Muller, executive chairman of SEMCAP Health, in a statement.
NeuroFlow has made some other big moves in 2022. Since last year, the company has doubled in full-time employees and expanded its reach to 15 million people in all 50 states, it said.
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