Mental health tech start-up NeuroFlow raises $1.2M

September 12, 2018 by Diane Mastrull, The Philadelphia Inquirer

NeuroFlow, the Philadelphia start-up trying to foster more engagement between therapists and their patients through technology, has raised another $1.2 million with expectations that total subscription will soon reach $1.5 million, the company announced recently.

The money is from a group of investors led by Jumpstart NJ Angel Network that also includes Independence Blue Cross, Chestnut Street Ventures and Ben Franklin Technology Partners.

The raise follows one that closed last year around this time for $1.25 million, which enabled 2-year-old NeuroFlow to make some key engineering hires and launch in beta its HIPAA-compliant platform, which helps motivate, track and encourage therapy patients between sessions. The is now in use in more than 100 clinics and hospitals in five continents, and the company of a dozen employees is on track to reach $1 million in annual revenue by the end of this year, cofounder Christopher Molaro said in a recent interview.

"With product demand accelerating and newfound applications for our technology, it was the right time to access supplementary investment from our strategic partners," Molaro said in a prepared statement Monday about NeuroFlow's latest round of funding.

In other words, NeuroFlow is preparing to bulk up, inspired by the traction with health care systems it achieved this year, he said, calling the new cash "an opportunity to scale quickly and decisively, as we expect to intensify our sales efforts during the final quarter of the year going into 2019."

NeuroFlow is concluding a pilot with Smart Health Innovation Lab, an accelerator founded in 2017 through a collaboration between Capital Blue Cross, Penn Medicine Lancaster General Health and other health-care and start-up stakeholders to help bring new technologies to market.

NeuroFlow was inspired by Molaro's five years serving as an officer in the Army, where he witnessed the mental needs of soldiers.

A panel of judges recently selected it as one of 30 finalists in the Inquirer's 2018 Stellar StartUps competition. Winners in nine categories, along with an overall grand prize honoree, will be announced Thursday, Sept. 13 at a networking gala open to the public at South Bowl in Philadelphia. Tickets are available at .

Explore further: New York Times to pass 4 million subscribers 'soon'


Related Stories

New York Times to pass 4 million subscribers 'soon'

August 8, 2018

The New York Times, the most prestigious newspaper in the United States, announced Wednesday that it expects to "soon" cross the threshold of four million subscribers, even if growth is slowing.

Recommended for you

EPA adviser is promoting harmful ideas, scientists say

March 22, 2019

The Trump administration's reliance on industry-funded environmental specialists is again coming under fire, this time by researchers who say that Louis Anthony "Tony" Cox Jr., who leads a key Environmental Protection Agency ...


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.