NEW YORK, March 10, 2022 /PRNewswire-PRWeb/ — Behavidence, a leading startup company that monitors psychiatric and neurological disorders using artificial intelligence, announced a $4.3 million seed round led by Welltech Ventures, featuring Arc Impact and Longevity Ventures.
Founded in 2020 by Roy Cohen (CEO), Dr. Girish Srinivasan, and Dr. Janine Ellenberger, Behavidence tracks and monitors the mental and emotional state of its users based on their digital usage patterns. Through its unique technology and algorithms, Behavidence can delineate the changes in its users’ state of mind without needing identifiable information or monitoring private content or information.
“Today’s funding announcement demonstrates our investors’ support, commitment, and optimism for the future of Behavidence,” said Cohen. “We see Behavidence’s technology being deployed as a screening and remote monitoring tool, and are thrilled to see the adoption of our technology on so many devices across the globe.”
Behavidence has secured more than $1 million in contracts with customers across the United States, Europe, Africa and Asia. Its clients include the Department of Veterans Affairs, Discovery Health Insurance and Essen Health Care.
Behavidence’s product is a remote monitoring tool that helps health organizations, medical practitioners, and insurance companies identify potential diagnoses. According to recent robust clinical studies conducted by Behavidence, the company’s models score up to 80% accuracy in detecting clinical depression, anxiety, and attention deficit disorders (ADHD) in patients. The company is continuing to develop its machine learning-based tools to detect and assist with remote monitoring and management of mental health conditions through passive digital biomarkers, adding no respondent burden.
“We continue to demonstrate our value to large healthcare organizations and private users by helping them assess the mental and emotional state of their clients and customers,” Cohen said. “There is an ease of use to our technology that we are very proud of. The lack of respondent burden for the user makes it easy to implement for both the insurance company and the user. We are seeing metrics from insurance partners that indicate our technology can reduce the cost of a clinical case by up to 50%”
“We are not ruling out the potential of exploring a clinical track either as a medical aid or as the official diagnostic index itself in the future,” explains Cohen. “But for now, we are celebrating our next round of seed funding and focused on delivering an intuitive product that will help serve the mental health needs of individuals and organizations throughout the world.”
Behavidence develops machine learning based tools to detect and assist with remote monitoring and management of mental health conditions through passive digital biomarkers. The company was founded by a neuroscientist, neuropsychologist, physician and bioengineer with the passion to improve the lives of millions suffering from psychiatric and neurological disorders. Founded in 2020, Behavidence now offers multiple digital phenotyping models that can predict disorders such as depression, anxiety, ADHD and more. These digital phenotyping solutions have been adopted by health organizations, tech, commercial and government entities. The Behavidence products can be used as a measurement based outcome to monitor employee burnout, stress, predict relapse of conditions, screening, and remote monitoring for clinical interventions and comorbid conditions.
This disruptive solution offers absolute user privacy, zero respondent burden and real time feedback.
Meet the Behavidence Founders Team:
Roy Cohen, MNeuroSci – CEO, Co-founder (Ireland/UK based)
Dr. Girish Srinivasan – Chief Technology Officer (Chicago, IL US based)
Dr. Janine Ellenberger – Chief Medical Officer (Bryn Mawr, PA US based)
Anna Marie Imbordino, Zen Media, +1 630-550-7510, [email protected]