Videra Health Secures 5.6M in Funding to Advance Mental Health AI Solutions Led by Peterson Ventures
May 21 2024 - 8:46AM
Videra Health™, a leading AI-driven mental health assessment
platform, is excited to announce it has raised $5.6M in Seed II
funding, led by Peterson Ventures. Mercato Partners, Epic Ventures
and Philo Ventures also participated in the investment. With
the continued support of its investors, this new round of funding
will help Videra Health expand its reach to help more patients and
transform the way mental health conditions are screened and
monitored at scale using AI video technology. The company's
ultimate goal is to close the gap in mental health care and make
quality treatment accessible to everyone.
Videra Health's cutting-edge technology uses artificial
intelligence and machine learning algorithms to analyze video data
and detect subtle changes in facial expressions, body movements and
speech patterns that could indicate the presence of mental health
conditions. The company's solutions have the ability to screen and
monitor conditions such as anxiety and postpartum depression and
can proactively identify individuals at a higher risk of suicide –
ultimately saving lives. Videra Health’s platform allows healthcare
providers to track the progress of their patients in real-time,
which helps them provide a more personalized and effective
treatment plan. This not only benefits the patient but also helps
to reduce the burden on mental healthcare systems and
providers.
"At Videra Health, we are driven by our mission to improve the
mental health of individuals worldwide," said the company's CEO and
Co-founder, Loren Larsen." Our AI video technology has the
potential to change the landscape of mental health screening and
monitoring, making it more accessible, accurate, and timely than
ever before."
This announcement comes at a crucial moment. With half of the
world's population likely to experience a mental health disorder by
age 75, there is a pressing need for effective and timely
treatment. On average 11 years pass before symptoms are addressed
and over 50% of people do not receive treatment. This results in an
annual cost of $282 billion for untreated mental illness in the
U.S. Videra Health tackles these issues by using AI technology to
provide widespread and streamlined mental health screening and
monitoring.
“We invested in Videra Health because we believe Videra’s team
and technology are suited to address the increasingly large gap in
mental healthcare that exists between in-person visits,“ said Ben
Capell, Managing Director at Peterson Ventures. “Loren Larsen’s
prior experience building HireVue gives him unique insight into
building an AI-powered, video-based RPM tool for mental health
providers. We’re excited to back him at Videra Health once
again.”
"Investing in Videra Health underscores our commitment to
funding transformative technologies that better the way we live,
learn, and work," said Josh Christensen, an AI and growth equity
Principal investor at Mercato Partners. “Videra Health’s innovative
application of AI in the clinical assessment process represents an
important paradigm shift within the healthcare industry that we are
incredibly proud to support.”
"At Philo, we are always on the lookout for companies that have
the potential to make a real difference in people's lives through
our Venture Fund and Studio,” says Scott Evanson, Venture Partner
at Philo Ventures.“Videra Health's innovative use of AI video
technology is precisely the kind of solution we believe has the
power to improve mental health care on a global scale."
Videra Health continues to make major strides in the world of
mental health care. Their innovative use of AI video
technology is positioned to have a significant and positive impact
on individuals, families, and communities.
About Videra Health™
Videra Health is a leading AI-driven mental health assessment
platform that empowers providers and healthcare organizations to
proactively identify, triage, and monitor at-risk patients to close
care gaps using linguistic, audio and video analysis. The
FDA-registered digital platform transforms how doctors and
healthcare systems interact and track a patient’s journey,
illuminating the hidden depths of patient behavior and outcomes.
Videra Health connects providers and patients anytime, anywhere,
between visits and post-discharge via written and video assessments
that translate into actionable quantitative and qualitative patient
data. The platform streamlines diagnoses, enhances care
accessibility, optimizes workflows and drives down costs for
providers and healthcare systems.
For more information, visit www.viderahealth.com.
Stacy Callahan
Videra Health
stacy@astonishmediagroup.com