London-based BioBeats, which uses artificial intelligence to deliver digital wellness support to consumers and employees, has raised $3 million (£2.4 million) in a funding round led by Oxford Sciences Innovation, White Cloud, and IQ Capital. According to the announcement, the new capital will enable the company to scale its international offerings.
“For BioBeats, our vision is to disrupt the way stress is viewed and treated on a global scale,” Dr. David Plans, founder and chief science officer of BioBeats, said in a statement. “Our approach focuses on challenging the conventional approach to addressing the pandemic of stress and its relation to mental health, cardiovascular disease, and other poor health outcomes; we are truly at a turning point in the digital health revolution, and this latest round of funding will help us achieve remarkable advances for our platform.”
BioBeats’ primary offering is the BioBase app. The platform helps users manage their stress while tracking any long-term developments through an in-app dashboard. In addition, the app offers coaching courses to educate users on stress-related topics, such as identifying personal stress triggers.
In the past, the five-year-old company was known for its Hear and Now stress app, which monitored users’ heart rates and respiration while providing the user with mindful breathing exercises to ease their anxiety or stress. Other audio-focused projects from the company included Pulse, an app that generated music based on heart rate, and BioMuse, which built custom music playlists by analyzing physiological metrics.
Earlier this year, the company announced Iain Martin, former managing director at UK greeting card company Moonpig, as its new CEO. In a statement, the company also noted that Plans and cofounder Dr. Davide Morelli will be beginning new research on BioBeats’ technology alongside research groups at Oxford University.
“We’re immensely proud to be supporting the BioBeats team, both because the team is unparalleled in its vision and capability, but also because the company is addressing one of the biggest challenges of our time,” Lilly Bussmann, principal at Oxford Sciences Innovation, said in a statement. “Mental health is the biggest cause of disability-adjusted life years across any non-communicable disease worldwide. And yet, due to the complexity of the problem at hand, few of the analytics and intervention tools needed for transformative change have emerged. This is where BioBeats comes in and hence why we’re so thrilled to be working with the team.”