Mindstrong is a company that provides therapy over mobile phones to patients with mental illnesses such as schizophrenia and obsessive-compulsive disorders. Users can download the app, register for the service and start sessions (which last 20 minutes each) over in-app messaging or video-calling features. The services are covered by many insurance providers. Mindstrong also provides monitoring and measurement tools (such as timing gaps between keyboard strokes) using digital biomarkers that are currently being validated through clinical trials.
In October 2019, Mindstrong appointed Daniel Graf, former head of product teams at Uber, Twitter and Google, its CEO.
In February 2023, announced that it is closing down its HQ and laying off 128 employees, including C-suite executives such as its CEO, chief technology officer, and chief financial officer. The company also announced it would stop offering its services by March 10, 2023, with the company informing patients to find alternative mental health providers before this date.
In March 2023, the company sold off technology assets, including some of its tech team, to fellow telepsychiatry provider SonderMind. The acquisition was carried out for an undisclosed sum. Post-sale of the assets, Mindstrong will terminate its operations.
Funding and financials
The company raised USD 100 million in May 2020 from investors including What If Ventures, Optum Ventures, Human Capital and General Catalyst, bringing the total funding of the company to USD 160 million.
No investor data is available
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