Mindstrong Health announced that it had raised $14 million in its Series A round last month. The capital that was raised will go to supporting the development of its treatment and diagnosis platform. The platform that the company provides monitors how patients use their smartphones to get measures of brain function. It is able to check for patterns from the way a person interacts with the device.
The goal of Mindstrong is to provide digital biomarkers of cognition and mood. These biomarkers include memory, executive function, and processing speed. Dr. Tom Insei is the co-founder and president of Mindstrong Health. He said that he was excited about the technology that they were developing. Jim Tananbaum stated that the product was able to come up with measures of cognitive function from a patient’s scrolling and typing patterns. He stated that this would help to lay a foundation for coming up with solutions that improve mental health care. He noted that mental health was a global problem and smartphones offered a way for them to come up with a global solution. The funding round was led by ARCH Venture Partners and Foresite Capital. For more details visit LinkedIn.
Dr. Jim Tananbaum is the founding partner of Foresite Capital Management. Foresite Capital is a V.C firm that invests in innovative healthcare companies. Tananbaum has degrees in Computer Science and Electrical Engineering from Yale University. He went on to graduate with an MBA and a Medical degree from Harvard University. Jim has a Master’s degree in Information Systems from MIT. He has led investments in several healthcare companies including Jazz Pharmaceuticals, Amerigroup, and Amira Pharmaceuticals over the course of his career.
Jim was one of the founding partners of Prospect Venture Partners II and III. He also worked as a partner at Sierra Ventures when he was starting out as an investor. Tananbaum is credited with establishing the healthcare service investment arm at the private equity firm. Tananbaum was named in Forbes’ Midas List for the third year in a row earlier this year. The list recognizes the best technology investors who are able to make big bets early in tech companies.