- Osmind announced it has raised $40 million in Series B funding. These are the details.
Osmind – a public benefit corporation helping clinicians and researchers advance new life-saving mental health treatments – announced recently that it raised a $40 million Series B investment led by DFJ Growth. The Series B funding round brings the total amount of funding for Osmind to $57 million since the company’s founding in 2020. And Justin Kao, partner at DFJ Growth, and the co-founder of Helix, will join the Osmind Board of Directors.
Along with DFJ Growth, the funding round includes new investors Susa Ventures, Lachy Groom, Brent Saunders (former CEO and chairman of Allergan and current Osmind board member), Helena Goodman and Ariel Katz (CEO of H1 Insights), and existing investors General Catalyst, Future Ventures, Tiger Global, and Pear VC.
Osmind essentially helps the medical community administer, track, and study the efficacy of interventions like ketamine, SPRAVATO, and transcranial magnetic stimulation for the 14 million U.S. patients living with moderate and serious mental illness. And Osmind is applying its funding to continue to develop and scale its market-leading electronic health record (EHR) technology for breakthrough mental health research and treatment, advance research with new partners, and double the size of the team virtually and at the company’s office in San Francisco.
As a significant research milestone earlier this year, Osmind worked with Stanford University School of Medicine physician-scientists to publish the largest real-world data study on ketamine infusion therapy in the Journal of Affective Disorders. And the analysis found that ketamine was a rapid, effective, and durable treatment for depression and that over 70% of patients with suicidal ideation at baseline experienced an overall improvement. Findings like these provide real-world evidence for increasing accessibility to innovative mental health treatments, a core part of the company’s mission as a public benefit corporation.
The Osmind EHR platform was designed for the needs of mental health clinicians, including psychiatrists and other specialties, with tools such as streamlined charting workflows, secure patient engagement, and automated outcomes tracking. And clinicians are also part of the Osmind research program, which works with leading scientists to conduct clinical trials and analyze anonymized, aggregated real-world information to advance new diagnostics, therapeutics, and precision medicine approaches.
KEY QUOTES:
“We are at a powerful tipping point in the development of new psychiatric interventions, similar to the precision oncology transformation over the past 20 years. Mental health clinicians are at the forefront of this transformation and are absolutely critical advocates and scientists for their patients.”
– Lucia Huang, CEO and co-founder of Osmind
“The renaissance happening in psychiatric treatment today is astounding. To see neurology, pharmacology, and physiology all advancing at the same time gives me great hope that we’re at the start of a major transformation for psychiatric conditions that are some of the most deadly and disabling in the world. Osmind supplies powerful technology that’s purpose-built for this acceleration of life-saving interventions, by supporting clinicians treating these patients and the researchers who need high-quality, longitudinal, real-world evidence to develop new therapies.”
– Justin Kao, partner at DFJ Growth
“Osmind supports clinicians treating patients with serious and refractory mental health conditions, including severe depression, suicidality, PTSD, substance use disorders, anxiety, OCD, and more. By enabling the serious innovation being led by interventional mental health practices, we are doing our part to help researchers expand better, safer, more effective treatments for patients who need it most.”
– Jimmy Qian, co-founder and COO of Osmind
