Digital behavioral health company SonderMind has acquired Qntfy, a predictive-analytics platform that uses mental health biometric data to suggest potential treatment options.
“Qntfy was always rooted in making data work for the individual,” Qntfy founder Glen Coppersmith said in a statement. Coppersmith will serve as chief data officer at SonderMind.
“I am thrilled to be working with SonderMind to improve how data can also be used to create a more personalized, effective mental health system.”
WHY IT MATTERS
SonderMind’s platform connects patients with therapists for virtual and in-person visits, while managing operations like payments and the telehealth suite. The company said the deal will allow it to deliver personalized care using data without loading that extra work on mental healthcare providers.
“Recruiting Glen and the Qntfy team adds additional depth to the comprehensive SonderMind experience,” Mark Frank, cofounder and CEO of SonderMind, said in a statement. “This ultimately gets people better more quickly, more effectively, and at less cost over time.”
Mental health has been front-of-mind for many patients and healthcare providers during the COVID-19 pandemic. A Kaiser Family Foundation analysis showed about four in 10 adults in the U.S. reported symptoms of anxiety or depression during the pandemic, compared with only one in 10 from January to June 2019.
THE LARGER TREND
In July, SonderMind announced it had raised $150 million in Series C financing, bringing its total funding pot to $183 million. The company scored $27 million in April 2020 and $2.5 million in May 2018.
The behavioral and mental health space is a big investment opportunity within digital health. Rock Health’s analysis of digital health investment found mental health continued to be the leading clinical-indication area for funding, bringing in $3.1 billion so far this year.
Other companies in the digital mental health include Headspace Health, the name for newly the merged Ginger and Headspace, Meru Health, Modern Health and Unmind.