This morning Neurotrack, a Redwood City, California-based startup focused on cognitive health, announced that it scored $21 million in Series C funding round. Khosla Ventures led the round with participation from Dai-ichi Life, SOMPO holdings, Sozo Ventures, Rethink Impact, AME Cloud Partners and Marc Benioff.
This news comes a little over a year after the startup closed its Series B funding, raising $13.7 million.
WHAT THEY DO
Neurotrack’s platform was designed with the dual purpose of assessing memory loss and cognitive decline, as well as preventing these conditions from progressing.
One part of the platform gives individuals with Alzheimer’s disease or mild cognitive impairments a baseline assessment, which takes around five minutes. The asssessement is taken on a regular basis to help track disease progression.
The platform has another component that includes a memory health program. This was designed to help users manage either exercise, diet, sleep and stress. It also offers cognitive training exercises.
WHAT ITS FOR
The new money will be put towards commercializing Neurotrack's Memory Health Program. The startup is also looking to expand into global markets.
The challenge of aging populations in the US, Europe and beyond has created a market for digital tools catering to seniors.
Recently Altoida, a digital platform that uses artificial intelligence and machine learning to help predict Alzheimer’s disease, closed a $6.3 million Series A found.
Optina Diagnostics is also working on scanning for Alzheimer’s disease. The company uses spectral retinal imaging and AI to scan for early signs of the condition.
ON THE RECORD
“Neurotrack has built an incredible integrative platform that is transforming our battle with Alzheimer’s,” Jenny Abramson, founder and managing partner of Rethink Impact, said in a statement. “Elli’s two decades of experience in the private sector and in government are helping her scale this solution to the millions of people suffering from cognitive decline around the world. We couldn’t be more excited to continue to support Neurotrack, given both the financial opportunity and the impact they are already having on this critical disease.”