Mindstrong Health was able to raise $14 million in funding for their innovative AI based technology platform. The platform has the ability to monitor regular smartphone usage and transform that into a device that is able to track and observe the details of a person’s cognitive function as they use their phone. This is a huge advance in the medical field as well as a potential life saver for the people who suffer from mental disorders. These disorders will be able to be diagnosed just by sending a text and scrolling through a newsfeed.
Considering that mental disorders are currently being diagnoses in a very subjective manner and in a clinical setting, the results are not always going to be exact and are affected by human error. Mindstrong has provided the world with an alternative to that and presents a solution that will revolutionary to the way that cognitive function in the brain is understood and viewed by the public. They seek to create a technology that is able to diagnose people in the same way that any other physical ailment is diagnosed, in a way that is as simple as checking blood pressure. Since the data will be taken throughout the day as the smartphone is used, it is gathering information from the every day life of the person and therefore is more like to produce a more accurate and natural reading.
One of the companies that is backing Mindstrong is Foresite Capital. Jim Tananbaum, CEO and Managing Director, used his experienced eye to identify Mindstrong as a strong contender in both the investment and medical industries. Jim is very interested in pushing forward financial opportunities for his company as well as building a franchise in the healthcare business.
According to INC42, he has been working nonstop for the last 25 years and has since made a name for himself in he healthcare and investment industries. During that time, he has been able to found and develop various healthcare franchise in all corners of the healthcare economy. He believes Mindstrong to be a huge asset not only to patients, but will also be able to save the healthcare industry a lot of money.
Check out his ideamensch.com profile for more info.