- Cognitive healthcare platform BrainCheck announced it raised $8 million in Series A funding co-led by S3 Ventures and Tensility Venture Partners
BrainCheck — a cognitive healthcare platform that was built for physicians — announced recently that it raised $8 million in Series A funding co-led by S3 Ventures and Tensility Venture Partners. The additional investors in the round include True Wealth Ventures and Nueterra Capital.
Including this round, BrainCheck has raised $11 million in total. With the funding round, the company will be spending more on marketing and business development initiatives targeted at expanding BrainCheck’s utilization amongst physician groups as well as into the enterprise healthcare market. And BrainCheck is going to utilize the funding towards research and development by personalizing its algorithm for improved overall patient experience.
“Cognitive healthcare should be an end-to-end solution where problems can be assessed early, and results shared between patients and physicians,” said BrainCheck co-founder and CEO Dr. Yael Katz. “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.”
BrainCheck is on a mission to bridge the growing accessibility gap between the 50 million seniors in the U.S. versus only 12,000 neurologists. And BrainCheck is transforming cognitive healthcare by replacing outdated pencil-and-paper brain health tests with research-backed digital solutions that are faster and more efficient.
“To date, more than 100,000 individuals are using BrainCheck to monitor their cognitive health, and this is only the beginning,” added 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.”
With this technology, organizations can track patients over time, reduce testing bias, and improve outcomes. And BrainCheck includes AI functionality to compare data sets, improve accuracy, and empower primary care physicians to confidently make diagnoses and create personalized treatment plans.
“BrainCheck has demonstrated rapid growth combined with extremely high rates of customer satisfaction,” explained 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.”
BrainCheck provides rapid and mobile cognitive assessment and decision support technology to physicians thus empowering them to deliver high-quality personalized cognitive health care to patients everywhere and get reimbursed. And this helps patients live better and safer lives at home, decreases caregiver frustration, and saves health systems trillions of dollars.
“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.”
And 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.
“As healthcare operators, we know that change in healthcare is hard to implement,” commented 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.”
Dr. Eagleman (Baylor College of Medicine / Stanford) and and Dr. Katz founded BrainCheck in 2015. And now it is used in more than 200 clinical practices and by 100,000 people around the world.
“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.”