Total Brain’s offerings include brain assessments and monitoring, screening agents for common mental health issues, and personalized self-care and stress relief programs. The company was previously listed on the Australian Stock Exchange and went private with the acquisition.
SonderMind matches patients with local and in-network therapists and helps them arrange in-person or virtual appointments. The company offers the agreement as a way to help its therapists monitor the outcomes of their care, provide corporate clients with population health reports, and offer a more comprehensive product to insurers and health systems.
“Your coffee app today contains more information about you to provide personalized service than the first time you see your therapist,” Mark Frank, co-founder and CEO of SonderMind, said in a statement. “Building on the foundation of the high-quality therapy that SonderMind clinicians deliver today, Total Brain will help us change that status quo. We can help individuals improve faster by leveraging their scientific application to enable people to better understand their mental and emotional state, as well as engage with SonderMind to address those needs through digital and therapeutic methods.”
THE GREAT TREND
The Denver-based company was founded in 2014 and most recently raised $150 million in Series C funding, bringing its total raise to $183 million. SonderMind plans to use its recent fundraising to expand geographicallyand company services are now available in 15 states and Washington, D.C.
The Total Brain deal marks another acquisition for SonderMind. In October last year he announced that he had quantity purchaseda predictive analytics platform that uses biometric mental health data to suggest potential treatment options.
Investments in digital health fell significantly in 2022 compared to last year, but mental health continues to be a leading therapeutic area for funding. A Silicon Valley Bank report found that median deal size and valuations increased for mental health companies, even as investment slowed.