braincheck Secures $10M to Advance Cognitive Impairment Detection

Cognitive Health Tech Gains Momentum with $10 Million Funding

With the global population aging, increasing attention is being directed towards maintaining brain health. Several startups are now utilizing technological advancements to develop methods for mitigating cognitive decline.

BrainCheck Secures Series B Funding

BrainCheck, a company headquartered in Houston and Austin, Texas, is focused on developing cognitive healthcare software designed to assist physicians in the detection and management of cognitive impairment. The company recently completed a $10 million Series B funding round to bolster its research and development efforts and expand its market reach.

This funding will specifically support the development of new digital therapeutics targeting Alzheimer’s disease and related forms of dementia.

Investment Details and Previous Funding

Next Coast Ventures and S3 Ventures spearheaded the funding round. They were joined by Nueterra Capital, Tensility Ventures, and True Wealth Ventures as participating investors.

Strategic investments were also made by UPMC Enterprises and SelectQuote. To date, BrainCheck has raised approximately $21 million in total funding, including a $3 million seed round in 2016 and an $8 million Series A round in 2019.

Bridging the Gap in Cognitive Care

BrainCheck’s technology is designed to address the limited availability of neurologists – approximately 12,000 in the United States – by providing a crucial link between patients and specialized care.

The system utilizes concise, 10- to 15-minute tests that can be administered either in-person or remotely via smartphones, tablets, or computers, enabling earlier and more precise detection of cognitive dysfunction.

Cognitive Quotient and Personalized Care Plans

Following test completion, patients receive a Cognitive Quotient (CQ) score. This score is then leveraged to generate a tailored cognitive care plan within minutes.

Currently, over 400 neurology, primary care, and geriatric practices are utilizing the technology, including clinicians at Mount Sinai, who are employing it to monitor and manage cognitive impairment stemming from COVID-19.

The Impact of the Pandemic

Yael Katz, PhD, co-founder and CEO of BrainCheck, explained to TechCrunch via email that the pandemic has fundamentally altered the healthcare landscape.

While the company had initially planned to pursue another funding round two years after its Series A, the pandemic prompted a period of evaluation to assess its potential impact.

However, the increased acceptance of remote care and a heightened awareness of healthcare needs, spurred by COVID-19, presented a compelling opportunity for continued growth.

Future Growth and Development

The new funding will facilitate continued team expansion and investment in R&D. BrainCheck is currently developing several new initiatives aimed at enhancing the patient experience, which are slated for release soon.

Over the past year, BrainCheck has experienced a threefold increase in year-over-year revenue growth, and the company anticipates maintaining this trajectory in the coming year.

The primary objective with the Series B funding remains consistent with the company’s goals from two years prior: to aggressively pursue growth opportunities.

The Importance of Proactive Cognitive Care

“The convergence of factors – the shift towards remote work, a greater emphasis on mental wellbeing, investment in preventative medicine, and support for the aging population – underscores the significance of our work and its continued relevance,” stated Katz.

“It is now more critical than ever for physicians to adopt tools like BrainCheck to enhance treatment throughout the entire patient journey.”