HOUSTON--(BUSINESS WIRE)--BrainCheck, a cognitive healthcare platform built for physicians, today announced an $8 million Series A funding round co-led by S3 Ventures and Tensility Venture Partners.
Additional investors in the round include True Wealth Ventures and Nueterra Capital, bringing the cumulative amount of funding raised by BrainCheck to $11 million. The funds will be deployed toward marketing and business development initiatives targeted at expanding BrainCheck’s utilization amongst physician groups as well as into the enterprise healthcare market.
BrainCheck will also utilize the new injection of venture capital toward research and development by personalizing its algorithm for an improved overall patient experience. The company is on a mission to bridge the growing accessibility gap between the 50 million seniors in the United States versus only 12,000 neurologists.
BrainCheck is transforming cognitive healthcare by replacing outdated pencil-and-paper brain health tests with research-backed digital solutions that are faster and more efficient. This allows organizations to track patients over time, reduces testing bias and improves outcomes. BrainCheck includes artificial intelligence functionality to compare data sets, improving accuracy and empowering primary care physicians to confidently make diagnoses and create personalized treatment plans.
“Cognitive healthcare should be an end-to-end solution where problems can be assessed early, and results shared between patients and physicians,” said Dr. Yael Katz, co-founder and CEO of BrainCheck. “By analyzing multiple forms of data, BrainCheck helps physicians create and fine-tune personalized interventions. This not only improves outcomes for current patients, but is invaluable to developing management and treatment strategies for future generations.”
Improving Dementia Patient Outcomes
BrainCheck is a digital platform that uses simple tests administered from an iPhone, iPad or desktop computer to interpret a patient’s current level of cognitive function and create a personalized treatment plan. Unlike older cognitive tests that are onerous to conduct, BrainCheck enables doctors to test, diagnose and create a personalized treatment plan for patients rapidly and reliably. The platform also utilizes AI to compare each patient’s test results with a multi-modal data set, where traditional computerized tests analyze only the individual’s responses.
“To date, more than 100,000 individuals are using BrainCheck to monitor their cognitive health, and this is only the beginning,” said David Eagleman, co-founder and chief science officer of BrainCheck. “We’re providing a platform for patients, caregivers, and physicians to work together to manage one of the biggest public health crises of our time.”
Investor Perspectives on BrainCheck Series A Funding Round
“BrainCheck has demonstrated rapid growth combined with extremely high rates of customer satisfaction,” said Charlie Plauche, partner at S3 Ventures who will be joining the board in conjunction with the financing. “S3 Ventures is thrilled that our investment will accelerate the adoption of BrainCheck’s comprehensive cognitive health solution by physicians everywhere and will help the company evolve into a mainstay in the enterprise health sector.”
“One of the biggest challenges in cognitive neuroscience is early detection of impairment,” said Armando Pauker, co-founder of Tensility Venture Partners and co-lead Investor. “Innovation depends on being able to leverage large datasets to identify subtle deviations both within and between individuals. Tensility Ventures’ investment is a testament to BrainCheck’s ability to identify these patterns and use this intelligence to improve patient diagnosis, prognosis and care.”
“As healthcare operators, we know that change in healthcare is hard to implement,” said Kevin Standefer, Strategic Investor at Nueterra Capital. “This device provides an operational efficiency to physician practices by enabling them to get the right care to patients sooner. Nueterra’s investment in this product reflects the real-world value that BrainCheck is providing clinicians.”
“New guidelines pertaining to the evaluation and treatment of cognitive impairment have created a need for new technologies,” said Kerry Rupp, General Partner at True Wealth Ventures. “BrainCheck identified and capitalized on this opportunity by creating a scalable solution that effectively addressed this need. True Wealth Ventures is proud to have been a part of BrainCheck’s success thus far and we’re thrilled to watch this company continue to succeed as they expand into new markets and grow their teams in Houston and Austin.”
BrainCheck provides rapid, mobile cognitive assessment and decision support technology to physicians, empowering them to deliver high-quality, personalized cognitive health care to patients everywhere and get reimbursed. This helps patients live better and safer lives at home, decreases caregiver frustration, and saves health systems trillions. Founded in 2015 by neuroscientists and technologists Dr. David Eagleman (Baylor College of Medicine / Stanford) and Dr. Yael Katz, BrainCheck helps lessen the human and economic toll of cognitive impairment and dementia through its interactive cognitive assessment and care management technology. BrainCheck is used in over 200 clinical practices and by 100,000 people around the world to detect cognitive changes early and enable patients, caregivers, and clinicians to work together to implement personalized recommendations to preserve brain health and functional independence. BrainCheck enables physicians to get paid for cognitive care management (via Medicare reimbursement) and simultaneously reduces healthcare costs by keeping patients healthy, safe, and out of the hospital. To learn more, please visit braincheck.com.