Digital Behavioral Health Company SonderMind has acquired Qntfy, a predictive analytics platform that uses mental health biometric data to suggest potential treatment options.
“Qntfy has always been rooted in making data usable for the individual,” said Qntfy founder Glen Coppersmith in a statement. Coppersmith will serve as Chief Data Officer at SonderMind.
“I’m very excited to be working with SonderMind to improve how data can also be used to create a more personalized, effective mental health system.”
WHY IT IS IMPORTANT
SonderMind’s platform connects patients with therapists for virtual and face-to-face visits, while managing operations such as payments and the telemedicine suite. The company said the deal will allow it to deliver personalized care using data without adding extra work to mental health providers.
“The recruitment of Glen and the Qntfy team adds additional depth to the extensive SonderMind experience,” said Mark Frank, co-founder and CEO of SonderMind, in a statement. “Ultimately, this leads to people getting better, faster, more effectively, and at lower cost over time.”
Mental health is paramount for many patients and healthcare providers during the COVID-19 pandemic. A Analysis by the Kaiser Family Foundation showed that about four in ten adults in the US reported symptoms of anxiety or depression during the pandemic, compared with just one in ten in January through June 2019.
THE BIGGER TREND
In July, SonderMind announced it raised $ 150 million in Series C funding, bringing the total funding pool to $ 183 million. The company grossed $ 27 million in April 2020 and $ 2.5 million in May 2018.
Behavioral and mental health is a great investment opportunity in digital health. Rock Health’s analysis of digital health investments found that mental health continues to be the leading clinical indication area in funding, raising $ 3.1 billion so far this year.
Other digital mental health companies include Headspace Health, the name for the newly merged Ginger and Headspace, Meru Health, Modern Health and Unmind.
