When looking at the movers and shakers in the behavioral health arena, it’s hard not to include NeuroFlow in that conversation – especially after last week’s funding boost courtesy of Concord Health Partners.
The press release definitely leaned into the “unlabeled round” theme, offering neither a Series title nor a dollar value, although it did tag the funding for growing NeuroFlow “to match the increase in demand for its solutions” among health systems, payors, and government agencies.
NeuroFlow had previously raised a total of $57.8M, capital that was used to build out an AI-driven analytics platform that helps providers consistently screen for behavioral health issues, triage patients to appropriate care, and engage them between visits.
- That platform enables NeuroFlow’s partners to overcome the usual hurdles to adopting an integrated behavioral health model, reducing the risks associated with undiagnosed conditions and helping them get out in front of potential issues before they escalate.
- The data collected through that process is then served to providers within their established workflows in the form of decision support, creating a nice feedback loop with the platform’s engagement component while helping create high-touch care journeys.
NeuroFlow’s story over the past year has been about partnership momentum, with a string of new names on the roster like Novant Health, Atlantic Health System, and Emory Healthcare.
- Growth acquisitions also found a place in NeuroFlow’s playbook, and it recently picked up Capital Solution Design (Behavioral Health Lab) to expand its reach within the VA while gaining some valuable VA-specific EHR integration expertise.
- The mission behind NeuroFlow is to make mental health a bigger part of physical health, and the latest investment will push that pursuit forward by funding new platform capabilities and quite possibly more strategic M&A.
The Takeaway
The behavioral health segment continues to remind us that it’s one of the most resilient corners of the digital health market, and NeuroFlow’s raise is the latest proof point that these startups can keep securing capital in an otherwise gloomy funding environment. NeuroFlow isn’t offering teletherapy and it’s not delivering care, but it seems to be carving out a nice niche with its “picks and shovels” approach to bridging gaps in the treatment journey for those that are.
