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Mindstrong

Mental Health Tech
Segments:
Telepsychiatry/Teletherapy Platforms
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Product stage:
Growth
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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.

Mental Health Tech

Mental Health Tech

Key stats
Featured companies
189
Total funding (USD)
11.0 Bn
Total addressable market (USD)
94.3 Bn
Key competitors
 
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Product Overview
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Company profile
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Recent Updates

M&A
Mar 22, 2023
SonderMind acquires Mindstrong’s technology assets
Mental Health Tech
Industry news
Feb 7, 2023
Mindstrong lays off 128 employees; shuts down HQ
Mental Health Tech

Company Brief


HQ location:
101 Jefferson Dr #228 Menlo Park CA USA
Founded year:
2014
Employees:
51-100
Total Funding:
USD 160.2 million
Last Funding
USD 250.0 thousand, Sep 2022

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
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