SAN FRANCISCO, Oct. 10, 2019 /PRNewswire/ -- Sentio, a company
developing biomarkers and digital therapeutics for mental health,
today announced it has raised $4.5
million in seed funding led by Felicis Ventures, with
participation from Anthemis Exponential Ventures, and SOSV. The
company combines its proprietary emotion sensing technology with
Cognitive Behavioral Therapy (CBT) to bring a data-driven approach
to the field of mental health for the very first time, while
providing real-time interventions and care to those in need of
emotional and mental health support. The latest investment, which
brings the total raised to date to $6.3
million, will enable Sentio to expand access to its Feel
program through partnerships with health plans, life insurance
providers, employers, and health systems.
Mental health is one of the most urgent areas of focus for the
healthcare industry, and insurance providers are taking a leading
role in bringing solutions to the market. Sentio recently partnered
with one of the largest health plans in California, as well as a large health and life
insurer in Europe, to
significantly expand access, reduce costs, and improve outcomes and
quality of life for those in need of mental health support and
care.
Feel helps health plans and employers improve the emotional
health of their members and employees, while significantly reducing
the cost of medical expenses and productivity losses due to mental
health. Individuals suffering from mental health issues make six
times more emergency room visits than the general population, and
submit two to four times as many medical claims which translates to
an additional $9,000 per year in
added medical expenses.
"For decades, healthcare providers have been able to use
objective data to measure and track all types of physical
disorders, yet there has been no such solution for mental health to
improve clinical effectiveness. Historically, mental healthcare is
only provided at the therapist's office during periodic check-ins
and has relied on patient questionnaires," said George Eleftheriou, co-founder and CEO of
Sentio. "We envision a world where technology understands when
someone is going through a depressive phase or panic attack, and
provides support in their time of need so no one has to suffer
alone ever again."
Because Feel constantly monitors a person's emotional state, it
is able to detect emotional changes and deploy on-time
interventions faster than any other solution available, preventing
visits to the ER. At the same time, Feel therapists receive
continuous data about their patients' emotional state, so when they
see patients, they already know what is going on and can be up to
four times more efficient in treating the issue.
Today is World Mental Health Day, and according to the World
Health Organization, nearly half a billion people globally suffer
from a mental condition and diagnoses are on the rise in every
country. One in five people in the US are living with anxiety and
depression, and timely access to support is often a challenge, not
only in rural or low-income communities, but also in large city
environments. Despite surging demand, mental health support
services are in short supply, with waiting times to see a therapist
often reaching up to four months.
"The current wave of digital mental health apps has improved
access to meditation and sleep support but innovation in the
treatment of medical conditions including anxiety and depression
has been limited," said Victoria
Treyger, general partner at Felicis Ventures. "Feel is
exciting because it is the first application of technology to
dramatically increase access to mental health treatment for
depression or anxiety. Both employers and insurers have been
craving a solution like this to help tackle the mental health
crisis that impacts job performance, morale, and overall
well-being."
HOW FEEL WORKS
The company pairs CBT — a form of psychotherapy that modifies
dysfunctional emotions, behaviors and thoughts — with its Feel
Emotion Sensor, which uses the science of affective computing to
detect changes in the emotional state of a person based on their
physiological response to different stimuli.
The Feel program includes:
- Feel Emotion Sensor — A wristband with integrated
biosensors that continuously monitors a variety of physiological
signals to understand the wearer's emotional state and patterns
over time
- Feel App — A smartphone app that connects to the
wristband to provide real-time support and evidence-based
interventions (i.e. mood journaling, breathing exercises)
- Licensed Feel Therapist — Weekly, 15-minute remote
data-driven sessions with a designated licensed therapist with
expertise in CBT
- Online Educational Program — Online educational tools
and classes that help build resilience and positive long-term
emotional habits
Feel was founded in 2015 by Eleftheriou and CTO Haris Tsirmpas to eliminate suffering from
mental health disorders through the use of objective data and
on-time interventions. Both founders have battled with mental
health issues, and built Feel based on their own experiences and
shared technical expertise. Eleftheriou is a former management
consultant, having worked at Cisco and McKinsey. He has a master's
in management science & engineering from Columbia. Tsirmpas has a PhD in biomedical
engineering from the National Technical University of Athens and has written 27 publications on the
area.
To learn more about the Feel program for employers and health
plans, visit myfeel.co/feel-program
About Sentio Solutions
Sentio Solutions is a company developing biomarkers and digital
therapeutics for mental health. Its flagship offering is Feel, the
world's first Emotion Sensor and Mental Health Advisor, that
provides proprietary emotion monitoring technology, Cognitive
Behavioral Therapy (CBT), and on-time interventions to deliver
24/7/365 mental health support to those in need. Sentio has 50
employees, including eight PhDs, and is headquartered in
San Francisco, with additional
offices in Shenzhen, China and
Athens, Greece. For more
information, visit www.myfeel.co.
James Christopherson
PR Manager
Sentio Solutions
6502698666
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SOURCE Sentio Solutions