Woebot Health

Woebot is a psychotherapy chatbot designed to help people cope with mental illnesses like depression, anxiety, and substance abuse through cognitive behavioral therapy exercises. It first debuted as a Facebook Messenger app in 2017, and later developed as a standalone app. Around 4.7 million messages are exchanged with the bot per week. The system leverages AI and natural language processing to evaluate a user’s emotional state and deliver the appropriate, clinically validated interventions.

The company received FDA Breakthrough Device designation for its WB001 digital therapeutic solution in May 2021, which combines cognitive behavioral therapy, interpersonal psychotherapy, and dialectical behavioral therapy together with its chatbot intended to help individuals manage postpartum depression. The company also published a large-scale study that showed Woebot could help reduce substance use.

Funding and financials

In July 2021, Woebot Health completed a USD 90 million Series B funding round co-led by JAZZ Venture Partners and Temasek which was earmarked to build out its technologies, expedite the development of its new digital therapeutic products, and commercialize its three prescription-based therapeutic products in its pipeline. Additionally, the company secured an additional USD 9.5 million from Bayer AG's investment arm Leaps by Bayer in March 2022. The investment follows the partnership between Woebot Health and Bayer Pharmaceuticals under the  G4A Digital Health Partnerships Program  announced in November 2021.