Moneta Health, a company focused on brain health, is advancing cognitive rehabilitation therapy by using artificial intelligence to deliver treatment. The company recently announced a significant achievement, closing a $4.5 million funding round. This new investment is coupled with a strategic partnership with Benefis Health System, a crucial step in their mission to deliver cognitive care to areas currently lacking access to neurology services.
The multi-year agreement with Benefis Health System in Montana, along with investments from venture capital firms such as True Ventures and Health2047, which is the American Medical Association’s venture studio, will help Moneta Health expand its reach, particularly in regions where there aren’t enough neurology specialists.
Cognitive impairment is a widespread issue, affecting nearly one-third of adults over the age of 65, which translates to a staggering 250 million people worldwide. Despite the clear need for effective treatments, many individuals are often told that their options are limited. Cognitive rehabilitation therapy, often referred to as a form of brain therapy, is a proven method for slowing cognitive decline and helping individuals maintain their independence. However, despite these benefits, only a small percentage of patients —fewer than 20% —are currently able to access this crucial treatment in traditional outpatient settings.
Moneta’s unique program is designed to make this therapy more accessible. Patients can connect with their licensed therapist over the phone, and between these sessions, they engage in cognitive exercises with Moneta’s AI-powered therapy assistant, also by phone. This innovative approach removes the need for specific apps or a high-speed internet connection, making the therapy available to a broader range of people.
The effectiveness of Moneta’s program has been demonstrated through real-world clinical outcomes, which were recently presented at the Alzheimer’s Association International Conference in Toronto. The results showed that, on average, patients experienced a significant 18% improvement in their cognitive function over the course of the program. This figure exceeds the national benchmark in the U.S. for traditional outpatient therapy, which is 13%.
Moneta Health has strong backing from a variety of leading venture capital firms and global investors. These include True Ventures, Health2047, Impact America Fund, BKR Capital, Koru, the Ontario Teachers’ Pension Plan, and the Centre for Aging + Brain Health Innovation. The recently closed $4.5 million funding round will be used to develop the product further, support clinical research, and facilitate expansion into other underserved communities.
This latest funding round follows a successful $2.2 million pre-seed round that was raised in March 2023, shortly after Moneta was founded, and was led by True Ventures. A co-founding partner at True Ventures expressed confidence in Moneta, highlighting that this is the second time their firm has invested in a company started by one of Moneta’s founders. They believe Moneta is addressing a critical problem within a growing market that impacts a significant number of lives.
Along with the new funding, Moneta has established a multi-year partnership with Benefis Health System, a Montana-based organization. This collaboration will integrate Moneta’s cognitive rehabilitation platform into the health system’s existing pathways for healthy aging care. The President of System Clinical Operations at Benefis Health System shared their enthusiasm for the partnership, emphasizing their goal to make personalized, evidence-based cognitive rehabilitation a standard of care for their patients and their families. They noted that Montana is a geographically large state with one of the oldest populations in the nation, making Moneta’s proven and accessible program an ideal solution for proactive brain health among their aging demographic.
Beyond its operations in Montana, Moneta’s virtual clinic currently serves patients in Florida, Nevada, Washington, and West Virginia, with future plans to expand its services nationally. Medicare and TRICARE cover the program, as well as an increasing number of Medicare Advantage plans, including those offered by Aetna, Blue Cross, Humana, Optum, and Sunshine Health.
As the rates of cognitive impairment and dementia continue to rise, Moneta Health is dedicated to transforming the way therapy is delivered and reimagining how cognitive decline is treated and prevented. Through its innovative model, the company is actively forging new partnerships with additional health systems, payers, and community-based organizations across the United States.
KEY QUOTES:
“Making cognitive care more accessible is a personal mission. My mother was diagnosed with dementia in 2017. I wish we had a platform like Moneta earlier in our family’s journey to maintain her cognitive function for longer.”
Paul A. Campbell, co-founder and CEO of Moneta Health
“Physicians everywhere are struggling to find effective, scalable solutions for patients with complex cognitive needs, particularly in regions with few or no neurologists. Moneta’s model brings clinically proven therapy directly to patients’ homes, giving physicians a new solution to address this critical gap in care.”
Lawrence K. Cohen, PhD, CEO of Health2047
