brain checkA digital health company specializing in cognitive assessment announced it has secured $15 million in funding.
The investment was led by seed-stage investors Next Coast Ventures, venture capital firms S3 Ventures and UPMC Enterprises.
Additionally, the company announced the expansion of its board of directors, with Nicholas Shapiro, vice president of UPMC Enterprises, joining the board.
function
BrainCheck is a cognitive assessment provider that enables physicians and patients a quick and repeatable process to identify cognitive impairment. This is done through his 3-minute test, which can be performed remotely or using a provider.
The company plans to use the $15 million funding round to accelerate commercial traction, scale innovation within its product portfolio, and expand its impact across the healthcare landscape.
“Our decision to invest in BrainCheck is underpinned by a deep understanding of the pressing burden of cognitive impairment in healthcare and the exciting future solutions that will move the industry forward. I am honored to join BrainCheck’s Board of Directors. BrainCheck's solutions support accurate assessments, stratify individual risk, and communicate with all stakeholders (patients, caregivers, providers, and risk). We provide fast, reliable resources to provide actionable insights that can help you. ” Nicholas Shapiro, vice president of UPMC Enterprises, said in a statement.
bigger trends
BrainCheck's announcement follows the release of a next-generation platform and 3-minute screening solution that enables providers to efficiently screen for cognitive function.
This funding round follows $10 million funding round in 2021 as the field of cognitive health companies grows.
Competitors in the cognitive health space include voice platforms auditory analysisAlzheimer's disease treatment company Cognito Therapeutics and the neurocognitive testing platform Altoida.
Altoida Received $14 million Series A funding in 2022.
according to NIH (National Institutes of Health), Dementia and other cognitive diseases are predicted to affect 14 million people in the United States and 152 million people worldwide in the coming decades. This highlights the importance of early detection measures for these diseases.
Cherish Health CEO Sumit Nagpal announced a new initiative aimed at ensuring health through prevention by tracking individuals using home radar technology, and the department to improve patient outcomes. We will talk about the importance of cooperation that transcends boundaries.