Braincheck Raises Another $1.5 Million to Bring Artificial Intelligence to Dementia Care
Top VCs fund company's expansion into cognitive care management, providing clinical decision support tools to physicians and the 50 million seniors at risk for dementia
HOUSTON, Jan. 03, 2019 /PRNewswire-PRWeb/ -- BrainCheck, a Texas-based digital neurocognitive testing platform, has raised $1.5 million in additional capital to bring AI and personalized medicine to dementia care through its cognitive care management technology, BrainCheck Care, which launched in July 2018. Funding, led by True Wealth Ventures, with participation from Tensility Venture Partners, XFactor Ventures, S3 Ventures and angel investors, brings the total funding to $6 million to date.
Born at the Eagleman Neuroscience Laboratory at Baylor College of Medicine (now at Stanford), BrainCheck enables physicians to rapidly and accurately assess cognitive function and deliver cognitive care at scale. The platform is currently used by hundreds of clinical practices and over 40,000 individuals and is growing rapidly. As first to market with an end-to-end cognitive health solution, BrainCheck is well-positioned to change millions of lives by providing a much-needed and promising solution to the "silver tsunami."
There are 5.7 million people suffering with dementia in the U.S. today, according to the Alzheimer's Association. The cost to healthcare organizations is 50 percent greater than cancer or heart disease. But new research from The Lancet Commission shows that one-third of dementia is preventable, and disease progression can be slowed through effective detection and addressing modifiable risk factors. As digital medicine continues to transform patient care, BrainCheck occupies a unique position to meet the needs of the dementia market.
Through a combination of assessments, screeners, workflows and clinical decision support algorithms, BrainCheck Care enables physicians to provide a detailed, personalized care plan to the patient and caregiver at the point of care.
"BrainCheck's rich and robust dataset on cognitive health, paired with other health and biometric data, enable us to personalize dementia care at scale," said Dr. Yael Katz, co-founder and CEO of BrainCheck. "For the first time, clinicians and caregivers can observe whether interventions are working by tracing cognitive change to a patient's medications, chronic diseases, or lifestyle, and iterate on these interventions to optimize outcomes."
Chicago-based Tensility Venture Partners focuses its investments on enterprise AI companies. "We saw a great opportunity with BrainCheck," said Armando Pauker, managing director and co-founder at Tensility Venture Partners. "They're sitting on a treasure trove of difficult-to-obtain data and are addressing a large market opportunity. They bring the power and benefits of AI into clinical care to make cognitive testing easily available to all."
"The research is clear and it has now been clinically proven that patients can delay the onset of dementia," said Charlie Plauche, partner at S3 Ventures. "By helping physicians detect this debilitating disease early, BrainCheck's platform technology will improve the lives of millions in the coming years."
Headquartered at the Texas Medical Center Innovation Institute, TMCx, BrainCheck has recently opened a second office in Austin, Texas. The funding will be used to expand the company's R&D and enhance its offering that is truly moving the needle in the dementia space. The company is also investing in sales and marketing talent to accelerate deployment in clinical practice.
About BrainCheck
BrainCheck provides rapid, mobile cognitive assessment and decision support technology to physicians, empowering them to deliver high-quality, personalized cognitive health care to patients everywhere and get reimbursed. This helps patients live better and safer lives at home, decreases caregiver frustration, and saves health systems trillions. Founded in 2015 by neuroscientists and technologists Dr. David Eagleman (Baylor College of Medicine/Stanford) and Dr. Yael Katz, BrainCheck helps lessen the human and economic toll of cognitive impairment and dementia through its interactive cognitive assessment and care management technology. BrainCheck is used around the world to detect cognitive changes early and enable patients, caregivers, and clinicians to work together to implement personalized recommendations to preserve brain health and functional independence. BrainCheck enables physicians to get paid for cognitive care management (via Medicare reimbursement) and simultaneously reduces healthcare costs by keeping patients healthy, safe, and out of the hospital.
To learn more, please visit http://www.braincheck.com.
SOURCE BrainCheck
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