NeuroFlow nets $25M in growth capital, new Air Force partnership
NeuroFlow, a behavioral health startup, has clinched $25 million in growth capital.
The funding brings the company’s total raised to date to $57 million. The latest investment was led by SEMCAP Health, an investment arm of a growth equity investor in Pennsylvania. Novant Health also participated in its first-ever investment in NeuroFlow, Fierce Healthcare has learned. The amount it put up was not disclosed.
“The company’s thoughtful approach to patient experience, enterprise workflows, and clinical content is helping healthcare organizations do more with less—clinicians use technology to engage millions of in-need patients to improve outcomes and reduce encounters in expensive, supply-constrained medical settings,” Ralph Muller, executive chairman of SEMCAP Health, said in the announcement.
NeuroFlow will use the capital to expand its referral network and relationships with payers and providers. It will also invest more in R&D to improve its tech platform, which it leverages to help screen and triage patients and refer them to the right level of care.
“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,” NeuroFlow CEO Chris Molaro said in a statement. In the past year, NeuroFlow has doubled its staff and grown from reaching 2 million lives to 15 million across all states.
“Our growth has been fueled by both behavioral health finally being acknowledged and prioritized as well as payers and providers moving closer to value-based care,” Molaro added.
The company also announced a new partnership this week with Sixteenth Air Force, which is responsible for information warfare and surveillance at the U.S. Air Force. The work of service members can be grueling without mental health support; thus, the 18-month contract will focus on building wellness and resiliency through self-management tools and programs.
The partnership will help “normalize mental health,” the organization’s surgeon general Col. Tracy Bozung said in the announcement. “Giving our Information Warfare Warriors the ability to work through mental health topics, ranging from sleep to mood, using validated questionnaires, is a significant advancement in ensuring the Airmen’s voices are heard and necessary resources are provided. It is a proactive approach to mental health care, tailored to an individual’s preferences and needs, available 24/7.”
