ieso, a UK digital mental healthcare firm, announced that it raises $53 million (€47m) in Series B financing.
The round was led by investment firm Morningside, with further new investment from Sony Innovation Fund and existing shareholders IP Group, Molten Ventures, and Ananda Impact Ventures.
The funds raised will help ieso develop autonomous therapy systems that match the high standards of human care delivery, at a lower cost to health systems.
ieso intends to seek regulatory approval for its digital tools in the US and UK ahead of bringing them to market. The company will extend its commercial teams to the US and target co-development and distribution partnerships that can facilitate scalable market access.
Round: Series B
Funding Month: November 2021
Lead Investors: Morningside
Additional Investors: Sony Innovation Fund, IP Group, Molten Ventures, and Ananda Impact Ventures
Company Website: https://www.iesogroup.com/
Software Category: AI-powered digital cognitive behavioral therapy (CBT)
About the Company: ieso is the UK’s leading digital mental healthcare and therapeutics business. It is addressing the global mental health crisis by developing clinically evidenced assessment and treatment products that enable everyone with a common mental health condition to recover. ieso uses technology and data science to better understand, prevent, detect, and treat mental health conditions. Its core product offers AI-powered, therapist-delivered, digital cognitive behavioral therapy (CBT). With a growing network of 600 fully qualified therapists, ieso serves more than 20 million adults through the UK National Health Service (NHS). By analyzing over 500 million data points contained in the world’s largest outcome-linked mental health dataset, ieso’s AI and data research teams are decoding the active components of therapy and enabling ground-breaking approaches for digital therapeutics (DTx). ieso is now developing new digital therapeutic products that will support the transformation needed in mental healthcare.