NeuroFlow raises $25M to help meet the demand for mental health services

The company helps identify patients who need help and then gets them to the right level of care

With an increasing number of people are suffering from some kind of mental illness, and more people than ever are seeking care, that is only exasberating already existing issues with access, which has been a problem for years. In 2020, over 12 million U.S adults had serious thoughts of suicide, while 1 in 5 reported that the pandemic had a significant negative impact on their mental health, yet nearly 5 million people were unable to access needed care. 

NeuroFlow helps solve this problem by being a digital health platform provider for enabling behavioral health access and engagement. It helps organizations find the best treatments for their patients, allowing them get treated on an on-going basis, even between visits.

NeuroFlow, which was founded in 2017 by West Point graduate Christopher Molaro after he served in the army for five years and then found that his fellow veterans, as well as civilians, lacked access to much needed mental health services, announced a $25 million round of funding on Thursday led by strategic investor SEMCAP Health. This is the company's first fundraising since a $20 million round in January 2020.

To help increase access and get patients the care they need, NeuroFlow allows providers to blend behavioral health into their overall care and remotely monitor patients. This is done by combining provider workflow augmentation solutions, clinical care dashboards, and a patient-facing application, with the end result being the ability to monitor patient progress, compliance and outcomes on an on-going basis.

End user generated data, including validated assessment scores, mood and sleep ratings, journal responses and more are fed into NeuroFlow’s clinical-facing web platform to remotely monitor user progress, risk stratify populations, and enhance care coordination efforts.

The solution is meant to alleviate pressure on providers caused by the growing number of behavioral health patients that are outstripping the supply of behavioral health resources.

"NeuroFlow is different because we embrace collaboration with others in the space, like telehealth partners, to get people to the most efficient and effective care possible. Organizations, and people, need more than one approach. There is a significant supply and demand imbalance for behavioral health, and no efficient or scalable way to standardize the way people are identified, assessed, and referred. That's why we exist," Molaro said in a statement.

Since its last fundraising, the company has doubled its number of full-time employees and has expanding its reach of lives supported from 2 million to 15 million in all 50 states. The company also moved into a new 16,000-square foot office in downtown Philadelphia last month to support a staffing increase and encourage more collaboration with its partners.

Now that NeuroFlow has SEMCAP Health as a new strategic partner and investor, the company says it will continue to expand its referral network and deepen its relationships with payors and providers to help them identify and triage individuals with behavioral health. Additionally, NeuroFlow will increase R&D investments to expand its technology platform, and increase headcount across all departments. 

"Since we were founded in 2017 the world has changed so much. Our growth has been fueled by both behavioral health finally being acknowledged and prioritized as well as payors and providers moving closer to value-based care," Molaro's statement continued.

"This financing round was opportunistic for us with a lead investor that is aligned with our vision and experienced in healthcare. We have the strength and flexibility to continue serving our health system and payor partners regardless of whatever the market conditions may be quarter-to-quarter."