Exclusive: Philadelphia's NeuroFlow gathers $25M in growth capital

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Exclusive NeuroFlow gathers $25M in SEMCAP-led growth capital

, author of Illustration: Sarah Grillo/AxiosExit Content Preview NeuroFlow, a Philadelphia-based provider of behavioral health integration technology, has collected $25 million in growth capital led by SEMCAP Health, the parties tell Axios. Why it matters: NeuroFlow's technology empowers stakeholder collaboration to address gaps in care and improve care navigation created by behavioral health's massive supply-demand imbalance. Details: The capital infusion will support growth across its sales and business development teams to build out its referral network; boost marketing spend; support investment into data privacy and security; and product development in Spanish and other languages. How it works: NeuroFlow provides standardized behavioral health assessments to identify a broad range of behavioral health conditions, tracks progress and risk levels by utilizing patient engagement, and equips care teams with AI-driven clinical decision support for care navigation. Its enterprise workflow and care management software also aims to reduce administrative burdens for its payor, provider and government customers — and can plug into existing workflows and systems. Its referral network includes behavioral health companies including Array, LifeStance Health, Marvin, and Brightside Health and AbleTo. Customers include Magellan Health, Health First, Bozeman Health, the Department of Defense, among others. By the numbers: The SEMCAP-led capital infusion brings NeuroFlow's total funding to date to $57 million. The company in January 2021 raised a $20 million Series B round led by Magellan. NeuroFlow over the last year has expanded its reach to 15 million supported lives, from 2 million. What they're saying: "In this category and niche we've found, there's no reason we can't be ubiquitous across the ecosystem," COO and co-founder Adam Pardes says. "We are the glue that connects a lot of point solutions for different care providers." Context: SEMCAP Health is an investment platform of SEMCAP, a Wayne, Pennsylvania-based growth equity investor focused on health care, education and food and nutrition. State of play: This is the second behavioral health-related investment this week with a "niche" model aimed at a massive total addressable market. Brave Health, a virtual care startup dedicated to mental health care for Medicaid members, led by Town Hall Ventures. The bottom line: While digital health funding has , the money is still showing up for players with a vast growth trajectory and proven impact on the health care ecosystem.

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