May 10, 2022
Lucia Huang, co-founder, and CEO of Osmind
When my co-founder Jimmy and I founded Osmind at the beginning of the COVID pandemic, it quickly became clear we were in a mental health pandemic as well. What struck us most was the lack of innovation for the 14 million U.S. patients living with moderate and serious mental illness, given the standard of care was based on science from the 1970s. However, as we got to better know clinicians and researchers, we realized that today, there’s a growing movement to do more to accelerate new treatment science.
Osmind has grown rapidly in the past two years to become the platform for breakthrough mental health research and treatment. Already, the medical community uses Osmind to help administer, track and study the effectiveness of clinical interventions such as ketamine, SPRAVATO®, and transcranial magnetic stimulation, and to support evidence-based practices. Our core electronic health record (EHR) technology is the first and only platform that solves specific challenges faced by these practices, capturing research-grade data while optimizing for mental health workflows and patient care journeys.
As we look to further address the global mental health crisis, today we’re excited to announce our $40 million Series B investment, led by DFJ Growth. This brings the total amount of funding for Osmind to $57 million since our founding in 2020. Along with this funding round, Justin Kao, a partner at DFJ Growth and the co-founder of Helix, joins the Osmind Board of Directors. We are particularly excited to work with Justin and DFJ Growth given their commitment to supporting companies such as SpaceX, Coinbase, Tesla, and more, that break existing paradigms rather than furthering the status quo. Justin himself brings deep healthcare operating experience and a passion for using healthcare data for good.
The round also includes new investors Susa Ventures, Lachy Groom, Brent Saunders (former CEO and chairman of Allergan and current Osmind board member), Helena Goodman and Ariel Katz (CEO of H1 Insights), and existing investors General Catalyst, Future Ventures, Tiger Global, and Pear VC.
With the funding, we will continue to develop and scale the Osmind EHR platform to meet the needs of innovative mental health clinicians, including psychiatrists and other specialties, with tools including streamlined charting workflows, secure patient engagement, and automated outcomes tracking. Clinicians are also part of the Osmind research program, which works with leading scientists to conduct clinical trials and analyze anonymized, aggregated real-world information to advance new diagnostics, therapeutics, and precision medicine approaches.
Thank you to our investors, partners, team members, and the medical community as we begin this new chapter of growth!
We are humbly aware that raising money itself doesn’t mean we have succeeded – it is what we do with it and how we make an impact that matters. And what better time than now: we’re at a powerful tipping point in the development of new psychiatric interventions, similar to the precision oncology transformation in the past 20 years. Mental health clinicians are at the forefront of this transformation and are absolutely critical advocates and scientists for their patients. We are excited to march forward on our journey to fundamentally change mental healthcare.
To learn more about how Osmind works to solve the worldwide mental health crisis, advance responsible innovation and research, and remain committed to the public good, please also see the Osmind 2022 Public Benefit Corporation Report.
To learn more about why DFJ Growth and Susa Ventures invested in Osmind, read DFJ Growth's blog post and Susa Ventures' blog post.
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