Cambridge-based healthtech Psyomics has closed a £2.4m funding round to further expand access to its online mental health assessment platform to individual users and NHS trusts.
The financing was led by Parkwalk, which specialises in the university spin-out sector. Meltwind and other investors also participated, along with new investment from Newable Ventures.
Psyomics was spun-out from the University of Cambridge with the aim of developing technology to support earlier and improved mental health diagnosis and treatment management.
Built by psychiatrists and psychologists, its mental health assessment platform Censeo mirrors the process of a face-to-face assessment, in a digital form.
Users are guided through a series of adaptive questions to build a detailed picture of their mental health symptoms and concerns. A report that is composed of potential conditions and next step recommendations is then generated.
When used within a healthcare setting, the platform supports clinicians with more efficient decision making, helping them to establish the right care pathway and level of support more quickly.
Stephanie Martlew, chief executive of Psyomics, said: "The continued support from Parkwalk, Meltwind and BGF alongside new investment from Newable Ventures enables us to expand the reach of Censeo, helping more people who are struggling to find the right support for their mental health needs.
"We're excited to grow our team, expand further across the NHS and demonstrate with our partners that our technology can make a substantial difference in the accuracy, consistency and efficiency of mental health assessments in a wide range of clinical settings."
Martin Glen, investment director at Parkwalk, added: "Recent years have shown how important digital health solutions are across the board to help confront the growing challenges facing the healthcare system.
"Psyomics' clinical and tech-led assessment tool will help to transform the way mental health is diagnosed and the expansion of their platform within the NHS and to individual patients is a testament to their success.
"We're proud to have been working with their team from the early-stages and look forward to seeing Psyomics continue to develop their platform and grow in the years to come."
Details of the advisers who worked on the investment were not disclosed.
