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Wednesday 24 November 2021

Digital mental health scaleup ieso raises £39m for autonomous therapeutics

ieso logoIeso, the Cambridge-based digital mental health therapeutics scaleup, has closed a £39m financing round to fund its plans to tackle the global mental health crisis with AI-enabled autonomous therapy systems. The Series B round, which follows an £18m raise in 2017, 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 idea of mental health services being ‘delivered by AI’ may sound like the stuff of sci-fi movies, but ieso’s solution could be the answer to the significant unmet need for improved mental health services globally. There are simply not enough clinicians to assess and treat the growing number of people who need help and there is a lack of clinically-evidenced digital therapeutics for treating diagnosed mental health conditions.

Founded in 2000, ieso already has a strong track record in the sector. The fast-growing SME will be building on its successful digital therapy service, which is currently delivered by a network of 600 therapists and serves more than 20m adults in the UK through the NHS. By analysing over 500m data points contained in its outcome-linked mental health dataset, ieso is decoding the active components of therapy and enabling new approaches for digital therapeutics (DTx). It has already created AI tools that review therapy sessions to highlight suboptimal treatment and drive improved patient recovery outcomes.

With this latest funding, ieso plans to seek regulatory approval for autonomous digital tools in the US and UK ahead of bringing them to those markets. The ambitious SME also intends to extend its commercial teams to the US and target co-development and distribution partnerships that can facilitate scalable market access. 

If it’s successful, ieso believes its autonomous therapy systems will match the high standards of human care delivery at significantly lower cost to health systems. And improve the lives of millions of people who struggle with their mental and behavioural health but cannot access appropriate personalised care. Whatever your views on AI in healthcare, ieso is definitely a scaleup worth watching in the years ahead!

Posted by: Tola Sargeant at 09:30

Tags: funding   automation   AI   scaleup   healthcare   mental+health  

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