Brain health platform Neurotrack has just announced that it raised $13.7 million in Series B funding, led by Sozo Ventures. The funding is expected to help Neurotrack further develop the platform.
The platform has two components: an online tool that helps prevent memory loss, and an assessment that gives users a baseline memory reading. The platform includes a memory health program, which is scheduled to launch later this year and will help users manage exercise, diet, sleep, time, and stress alongside its cognitive training offerings. The prevention platform was designed based off the results of the Finnish Geriatric Intervention Study to Prevent Cognitive Impairment and Disability, which showed a healthy lifestyle can improve cognition in older adults.
"Cognitive decline and memory loss associated with diseases like Alzheimer's and other dementias are a major health epidemic and so far, the healthcare industry hasn't been successful in developing reliable tests or treatments," cofounder and CEO Elli Kaplan told MobiHealthNews in an email. "Neurotrack's Imprint cognitive assessment is based on 30 years of research, and is available to anyone with a computer and a webcam. We think that if people have easy and ongoing access to assessments like Imprint and tools like our forthcoming memory health program, that they will be more empowered to take care of their brain health, just like they would any other organ."
The app gives users a baseline test called the Imprint Memory Assessment, which takes about five minutes and can be done at home. During the test a user only has to look at the screen, and the program will track eye movements and identify potential abnormalities with recognition memory.
It takes about five business days for the results to come back. The platform lets users see where their memory is relative to other users. Over time, it will track the users’ memories so that they can see how their memory has changed.
"Not only do we have a strong belief in Elli and her team’s vision, but we deeply understand the critical imperative we have to better detect and manage memory loss,” Phil Wickham, cofounder and general partner of Sozo Ventures, said in a statement. “The strength of the company’s position from a research, technology, and data perspective is unrivaled and has the potential to meaningfully impact the long-term health of millions of people worldwide.”