The Future of Work, Society, and Tech DEPENDS on the State of the Human Mind. How do we enable every human to develop their full potential? Join us as we create an unprecedented era of human flourishing. #TTConf2020https://www.ttconf.org
There has never been a better time, or demand, for technology-enabled mental health solutions. The coronavirus outbreak is taking a toll on mental health as millions experience paralyzing anxiety and struggle to navigate social isolation. According to the CDC, anxiety was three times higher than normal in June, while depression was four times higher. Google searches for “virtual mental health” jumped after the pandemic hit in March as people looked for alternative options for in-person behavioral health services. With technology opening a new frontier in mental health support, companies who have developed scalable solutions are well positioned to respond to the shift in consumer demand. Transformative Technology can and should be used to diagnose, improve, and expand mental health and wellbeing at a scale made possible thanks to advances in networks and computing, AI and machine learning, proliferation and virtualization of sensors and massive data, AR and VR, progress in medicine and neuroscience. Let’s take a look at some examples:
Neuronetics has pioneered and refined the NeuroStar TMS Therapy system. This non-invasive, non-systemic treatment for depression uses a highly focused, pulsed magnetic field to stimulate function in targeted brain regions. Funding: $167 M
Calm is working to bring the amazing benefits of meditation to a busy world. Calm operates an online portal which allows busy and information loaded web workers to reduce stress. Funding: $143M
BlackThorn Therapeutics is a clinical-stage biopharmaceutical company that uses a novel and robust platform (INFORM™) to link behavioral deficits with brain physiology to discover and develop targeted treatments for neurobehavioral disorders. Funding: $138M
BrainCheck is a test for cognitive health, allowing users to track their brain health to share results with clinicians. Funding: $14.7M
Spring Health uses AI to help patients with mental health problems feel better faster. Funding: 30M
BioBeats builds stress app that respond to physiologic data and learns from how a person interacts with others, to help people live more engaging, healthier lives. Funding: 6.6M
Sentio Solutions is a behavioral health startup offering an emotion-sensing wearable that provides continuous monitoring and real-time personalized interventions for individuals who suffer from anxiety and depression. Funding: $6.3M
In the first half of 2020, digital behavioral health startups scored $588 million, roughly the annual funding for this segment in any previous year. This also means that behavioral health is beginning to take a bigger piece of the funding pie than in previous years, moving from 7% in 2019 to the current 11% of all completed deals. With looming economic and political uncertainty next year, we are in dire need of learning new ways to be connected without physically being connected. We need a way to engage beyond office visits and/or providing care from the other side of a computer screen. Our mental, emotional and physical health is all interconnected just as we, as a species, are all connected. The time is now to adopt transformative technologies.
By Matthew Holland for Transformative TechThe Future of Work, Society, and Tech DEPENDS on the State of the Human Mind. How do we enable every human to develop their full potential? Join us as we create an unprecedented era of human flourishing. #TTConf2020https://www.ttconf.org
