Blueprint, a Chicago-based startup building patient data collection software for mental health clinicians, has announced a $3.4 million seed funding round, bringing its lifetime raise to $4.7. Bonfire Ventures led the latest investment, which also included Lightbank and other unnamed angel investors.
WHAT IT DOES
Blueprint (not to be confused with the healthcare IT accelerator Blueprint Health) describes its tech as having three major pillars: patient assessments, connected data streams and reimbursement support.
The first two have the software distributing standardized clinical assessments or connecting to data collected by smart devices, which allows mental health clinicians to better understand their patient's condition using objective data points and personalized trend-analysis features.
For the practice itself, Blueprint's platform automatically submits insurance reimbursement claims that are based on clinical assessments completed by the patient, potentially securing new revenue for the provider with little-to-no hands-on required.
The startup has seen its business grow since its first raise of $1.3 million in April 2019. Blueprint said in its funding announcement that it currently partners with nearly 100 clinics across the U.S. Since February, its patient enrollment and usage has grown by 800%, alongside a twelvefold increase in revenue.
WHAT IT'S FOR
Danny Freed, Blueprint's CEO and founder, said in the announcement that these funds would fuel new hires, increased marketing and brand awareness campaigns, and new developments for the product.
Mental and behavioral health services have been in the spotlight this year, driving a healthy number of raises for tech startups focused on this specialty. These have ranged from mental health and wellness apps designed for consumer use (think Big Health and Headspace), to virtual telehealth consultation services, to at least one major acquisition of a virtual behavioral-care company.
While Blueprint focuses specifically on building its tools for mental health clinicians, other startups are looking to streamline payments. Gentem, for instance, is revamping payment and reimbursement for independent practices. It raised $3.7 million at the top of the year.
ON THE RECORD
“We could not be more proud to partner with Danny and the team at Blueprint on their mission to help address a huge societal issue that affects so many,” Brett Queener, partner at Bonfire Ventures, said in a statement.
“Blueprint has delivered results in just a few short years that would be impressive for a much larger company. We believe their beautifully designed platform for data-driven care will make a huge impact on the livelihoods of many Americans in need and clinicians doing the hard work to help.”