Israeli predictive health analytics company MyndYou has announced that it has raised a $4 million Series A financing round led by AI Life Sciences, an affiliate of Access Industries, with participation by new investors and previous ones, including Amplifyher Ventures, DayBreak, Impact First Investments active board member Howard L. Morgan, who led MyndYou's seed round. The new funds will be used to expand MyndYou's presence in the US market as well as data science and product development to support this growth.
The company has developed a technology that measures changes in "cognitive complexity" of humans to detect hospitalization risk. US healthcare providers use MyndYou's AI software and brain-driven analytics to monitor fluctuations in speech and activity patterns and automatically intervene with high-risk patients, ultimately preempting hospitalization. Organizations such as Allscripts have partnered with MyndYou to promote and expand innovative care opportunities with patients who need increased monitoring and engagement.
During the Covid-19 pandemic, MyndYou has been especially active in providing US-based healthcare companies and senior communities a unique solution set that allows them to continue supporting their high-risk clients virtually, while relying on MyndYou's predictive analytics for added insights that can help drive care to the right individuals, at the right time. MyndYou has also been active in the Japanese market, allowing clinicians to remotely monitor and engage with socially isolated older adults.
AI Life Sciences president Avi Naider said, "There has never been a more critical time to develop technologies that provide aging adults and chronic patients with the real-time care they need. We are proud to lead this investment round and support MyndYou as it continues to make an impact on healthcare markets in the US and globally,"
MyndYou cofounder and CEO Ruth Poliakine Baruchi said,"Our activity in the US market has shown us the increasing need for predictive and automated solutions that help care for high-risk individuals. At MyndYou, we have developed the technology to effectively answer these needs, and it's now our responsibility to make it accessible to the US healthcare market. With this investment round, we are prepared to continue scaling this activity and further our impact to improve outcomes, care methods, and quality of life for older adults."
Published by Globes, Israel business news - www.globes-online.com - on April 21, 2020
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