Mindstrong Health, a leading technology startup that focuses on research and development of new technology to aid in the diagnosis and management of behavioral disorders, said that it has received $14 million in its first round of funding. The announcement was made by Paul Dagum, the CEO and founder of Mindstrong Health. Among the investors that contributed to this round of funding were Optum Ventures, ARCH Venture Partners, One Mind Brain Health Impact Fund, and Foresite Capital.
According to Patient Daily, the new platform developed by Mindstrong provides information about people’s brain function through monitoring their smartphone use. This is a big breakthrough in the diagnosis and treatment of behavioral disorders as it provides objective measures which can be used, resulting in better outcomes for the patients. Jim Tananbaum, the CEO and Managing Director of Foresite Capital, expressed his faith in the leadership of Mindstrong Health, and believes that the new platform will greatly improve the quality of care that people suffering from mental disorders receive. The results of the clinical trial are yet to be released by Mindstrong Health.
About Jim Tananbaum
Jim Tananbaum is a seasoned healthcare investor and entrepreneur with more than 25 years’ experience. He is an expert in clinical pharmacology, genetic epidemiology, and clinical immunology and uses his expertise in these fields to support healthcare startups through Foresite Capital. Through the various companies he started, he has helped several healthcare startups establish themselves and grow into successful businesses. Visit Insider Monkey to know more.
In a report by Drewaltizer, Jim made it to the 2017 Forbes Midas’ List, which names the top 100 investors in tech startups. Jim was also on the 2015 and 2016 Forbes’ Midas List, showing just how good an investor he is. He is a risk taker, but his experience has taught him not to be reckless in his investment decisions. Therefore, he carefully analyses investment opportunities, and uses his foresight in deciding whether to invest in something or not.
Mindstrong’s new platform is bound to completely transform the treatment of mental disorders. People suffering from these disorders will be able to get accurate diagnoses of their ailments and receive proper care, greatly improving their outcomes. With the support of experts like Jim Tananbaum, the platform is expected to be a huge success.
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