Brain health and dementia care platform Isaac Health has secured $10.5 million in Series A funding, bringing its total raise to $16.3 million.
Flare Capital Partners led the round alongside new investors Black Opal Ventures and Industry Ventures.
Existing investors Meridian Street Capital, B Capital and Primetime Partners also participated in the round.
WHAT IT DOES
The New York-based company, launched in 2022, offers a platform focused on screening, assessing, treating and providing care management for brain health and dementia care.
Isaac Health's platform supports caregivers and patients, and the company partners with payers and providers.
The company will use the funds to expand its technology to scale nationwide, including its virtual care infrastructure and smart care management tools, AI-enabled early detection technology, clinical decision support systems, and data and analytics capabilities.
It will also use the funds to extend its partnerships with health plans and systems.
"The U.S. is in a public health crisis, facing an oncoming tsunami as the number of people developing dementia surges and millions of us — including those we love — confront the real risk of cognitive decline. Yet our health system remains alarmingly unprepared to meet the complex needs of those living with these conditions and those who care for them," Dr. Joel Salinas, cofounder and chief medical officer of Isaac Health, told MobiHealthNews.
"This funding allows us to scale the best care for this population nationwide — reaching persons living with dementia or at risk, even in geographically isolated and underserved communities. We are revolutionizing brain health care to require zero distance and move 100 times faster to better preserve cognitive health, support caregivers and help people maintain independence and quality of life. In doing so, we are dramatically expanding access to the right care at the right time."
MARKET SNAPSHOT
Dementia affects more than six million Americans and accounts for more than 100,000 deaths yearly, according to the National Institutes of Health.
Last year, Isaac Health scored $5.7 million in an oversubscribed seed round led by Meridian Street Capital and B Capital with participation from Co-Found Partners, VU Venture Partners, AirAngels and Primetime Partners.
Other companies in the digital health dementia space include California-based Tombot, which offers a robotic puppy, Jennie, designed by Jim Henson's Creature Shop, for people with dementia and mild cognitive impairment living in private homes, assisted living facilities and memory care communities.
In June, Tombot closed an oversubscribed $6.1 million Series A funding round.
Last year, tech giant Lenovo, alongside Innovations in Dementia, announced a proof-of-concept project dubbed Alzheimer's Intelligence, a photorealistic AI-enabled 3D avatar that converses with individuals with dementia.
Lenovo's technology combines the experiences and insights of hundreds of people into a 3D AI avatar that can engage in unscripted, real-time conversations with dementia patients.
The avatar, named Liv, was designed as a conversational companion and support tool and was built from a composite of images of ten individuals with Alzheimer's and dementia. AI then generated facial features inspired by these individuals, producing thousands of unique expressions and angles for the avatar.
BrainCheck is another company in the space that offers a platform that helps assess cognitive impairment.
Japanese pharmaceutical company Eisai has built an AI model that uses data from wearable devices to predict Alzheimer's disease, the most common form of dementia.
