Digital behavioral well being firm SonderMind introduced this week it had acquired Whole Mind, a platform that enables customers to trace their psychological capability, feelings and stress ranges.
Whole Mind’s choices embrace mind assessments and monitoring, screeners for widespread psychological well being circumstances, and customized self-care and stress reduction applications. The corporate was beforehand listed on the Australian Inventory Change, and has gone non-public with the acquisition.
SonderMind matches sufferers with native and in-network therapists and helps them arrange in-person or digital appointments. The corporate is pitching the deal as a means to assist their therapists monitor outcomes from their care, present enterprise prospects with inhabitants well being reporting and provide a extra complete product to insurers and well being methods.
“At the moment, your espresso store app has extra details about you to ship customized service than the primary time you see your therapist,” Mark Frank, cofounder and CEO of SonderMind, stated in a press release. “Constructing on the inspiration of the high-quality remedy SonderMind clinicians are delivering right now, Whole Mind will assist us change this established order. We may also help people get higher, quicker by leveraging their science-informed software to permit folks to raised perceive their psychological and emotional state, in addition to have interaction with SonderMind to deal with these wants by way of each digital and therapeutic strategies.”
THE LARGER TREND
The Denver-based firm was based in 2014 and most just lately raised $150 million in Sequence C funding, bringing its whole increase to $183 million. SonderMind has deliberate to make use of its current fundraises to develop geographically, and the corporate’s providers are actually accessible in 15 states and Washington, D.C.
The Whole Mind deal marks one other acquisition for SonderMind. In October final yr, it introduced it had bought Qntfy, a predictive-analytics platform that makes use of psychological well being biometric information to counsel potential remedy choices.
Digital well being funding has considerably dipped in 2022 in contrast with final yr, however psychological well being continues to be a main therapeutic space for funding. A report by Silicon Valley Financial institution discovered median deal sizes and valuations have elevated for psychological well being corporations whilst funding slowed.
Nonetheless, there are a selection of rivals within the digital psychological well being area, together with corporations like Calm, Headspace Well being and Teladoc Well being with its psychological well being choices together with BetterHelp.