Mindstrong Health just announced that they were funded $14 million by Foresite Capital, ARCH Venture Partners, Optum Ventures and One Mind Brain Health Impact Fund. They will use this money to advance their AI based and innovative platform. The platform will be used to detect average smartphone usage and compare that with the tracking and detection of the recordings of a person’s cognitive function. This technology is innovative and will create a huge advancement in the medical field. It will also be life changing for those who suffer from mental disorders. These disorders will diagnose in a new, easier way.
These diagnoses will also be more accurate because it will remove the subjective manner in which mental disorders are currently being identified. Mindstrong seeks to avoid the human error in current clinical settings and presents an option that will completely change the way that mental health is understood and treated. They hope to one day be able to diagnose mental disorder in the same way that physical ailments are. It will be as simple and as accurate as checking blood pressure. The readings will also be more accurate and natural since the data will be recorded during an average day while the smartphone is being used. The information will no longer be affected by clinical environments and human error.
One of the companies that is backing Mindstrong is Foresite Capital because they believe this is going to be huge for the health industry. Jim Tananbaum, CEO and Managing Director, believes Mindstrong to be a asset in both the investment and medical worlds. Jim was recently added to the 2017 Forbes Midas List, which is a collection of the top investors. See, https://inc42.com/buzz/forbes-midas-top-100-investors-2017/.
Jim Tananbaum has vast expertise in both the healthcare and investment industries, and his experienced is built on a foundation of extensive and impressive schooling. He has spent his time founding and developing a wide variety of healthcare franchises in healthcare that are all beneficial to the economy. He predicts that Mindstrong is going to be a huge help to patients and also that will save the healthcare industry a lot of money.
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