The funding will help Ieso obtain regulatory approval for its autonomous digital tools. Here are the top-line bullets you need to know.
Ieso, a mental health startup, has raised $53M in a Series B round. The round drew participation from Molten Ventures, Morningside Technology Ventures, and IP Group, among others.
How’s the company performing?
- UK-based Ieso offers AI-enabled digital assessment tools and cognitive behavioral therapy (CBT) for mental health conditions, like depression and anxiety.
- The company’s platform, in combination with its 460,000-hour therapy dataset, enables it to accelerate the development of personalized mental health treatments.
- The company currently caters to more than 20M patients via its network of 600 therapists.
- Ieso has established partnerships with several insurers, employers, and healthcare providers, including the UK’s National Health Service.
Source: Ieso
Why does the market matter?
- The telemental health market is projected to reach a value of $191.7B by 2025, growing at a CAGR of 37.7%, according to MarketsandMarkets.
- Demand for virtual mental health counseling and support services has increased amid the pandemic.
- As of Q3’21, telehealth funding stood at $13.1B, a 26% increase from 2020’s year-end total.
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