Braincheck Secures $10M in Funding to Detect Cognitive Impairment

Original article by Christine Hall, published in TechCrunch

As the world’s population ages, more is being learned about brain health as startups leverage technology to find a way to slow down cognitive impairment.

BrainCheck, a Houston- and Austin-based company developing cognitive healthcare software to aid physicians in detecting and managing this type of care, raised $10 million in Series B funding to expand its R&D and go-to-market capabilities as it works on new digital therapeutics for Alzheimer’s and related dementias.

The round was led by Next Coast Ventures and S3 Ventures, which were joined by Nueterra Capital, Tensility Ventures and True Wealth Ventures. In addition, UPMC Enterprises and SelectQuote came on as strategic investors. The latest funding gives the company roughly $21 million in total funding raised to date, which includes a $3 million seed round in 2016 and $8 million in Series A funding from 2019.

BrainCheck’s technology acts as a bridge between patients and the limited number of neurologists, about 12,000, in the U.S. Through 10- to 15-minute tests, performed in-person or remote (via a smartphone, tablet or computer), cognitive function can be detected early and more accurately.

Based on the test, patients are assigned a Cognitive Quotient (CQ) score, which is then used to produce a personalized cognitive care plan within minutes. Over 400 neurology, primary care and geriatrics practices use the technology currently, including Mount Sinai clinicians, which are using it to track and manage cognitive impairment resulting from COVID-19.

The pandemic has changed everything across the healthcare ecosystem, Yael Katz, PhD, co-founder and CEO of BrainCheck, told TechCrunch via email.

The company always had it in mind to raise another round two years after its Series A, but Katz said the global pandemic gave them pause to see how it would impact that decision. However, due to COVID shining a light on how people perceive healthcare and became more comfortable with remote care, they saw an opportunity to continue.

The new funding will enable the company to continue to grow its team and invest in R&D. It already has several new initiatives in the works to close the loop with the patient journey that will be brought to market soon, she added.

Over the last year, BrainCheck experienced year over year revenue growth increase three times, and Katz expects the same trajectory for next year. With the Series B, the goal remains the same as it was two years ago — double down on growth.

“From the shift to remote work and an increased prioritization of mental health to investing in preventive medicine and supporting the aging population, all of these factors have come together to make the case that what we’re doing matters, and will continue to matter,” she said. “It’s never been more important for physicians to invest in a tool like BrainCheck and improve treatment across the patient journey.”

Learn more about the BrainCARE plan here.

Prestigious international annual awards program recognizes BrainCheck’s cognitive care planning tool as standout digital health technology.

Personalized Preventative Care

AUSTIN, Texas – May 9, 2024 – BrainCheck, Inc., a digital health innovator delivering next-generation technology into the growing digital cognitive assessment market, today announced that its care planning solution, BrainCheck Plan^™, was selected as the winner of the “Care Management Innovation Award” in the 8th annual MedTech Breakthrough Awards program, which recognizes the top companies, people, platforms, and products in the health, fitness, and medical technology industries. This year’s program attracted thousands of nominations from more than 18 countries worldwide.

“Following information provided by BrainCheck Screen^™ and Assess^™, our comprehensive care planning is the critical next step for providers, patients and caregivers,” said Kim Rodriguez, CEO of BrainCheck. “The evolution of the BrainCheck platform reflects our customers’ evolving needs, and this recognition of our product further validates the value of our technology.”
“With the Guiding an Improved Dementia Experience (GUIDE) Model launching this summer, more practices will be required to create and share care plans as part of a comprehensive, standardized care delivery approach. BrainCheck’s technology is essential for providers to meet the Model’s required core elements. From thorough assessments to personalized care plans, BrainCheck equips healthcare professionals to address the unique needs of each patient and care partner effectively,” said Carolyn Clevenger, DNP, RN, GNP-BC, AGPCNP-BC, FAANP, FGSA, FAAN, Professor and Founder of Integrated Memory Care at Emory University, one of six comprehensive dementia care programs that formed the basis of the GUIDE Model, and clinical advisor at BrainCheck.

The BrainCheck platform offers rapid, reliable resources to support accurate assessments, stratify individual risk, and deliver actionable insights that can help preserve patient brain health. BrainCheck’s standard battery, Assess, is a FDA Class II medical device that easily and objectively detects signs of cognitive impairment, which may have association with dementia including Alzheimer’s disease. In as little as three minutes, BrainCheck Screen helps providers accurately and efficiently determine whether further cognitive testing may be needed with Assess. BrainCheck Plan helps clinicians build, document, and deliver comprehensive care plans for patients with cognitive decline, post-diagnosis.

“With BrainCheck Plan, we can quickly customize care plans and document recommendations for patients and caregivers, based on individual needs. The tool is easy-to-use and provides a functional framework to help navigate next steps with confidence and compassion,” said Bela Ajtai, MD, PhD, Director of the Center for Cognitive Disorders and Brain Health at DENT Neurologic Institute, one of the largest outpatient neurology practices in the U.S. “As dementia progresses, decision-making abilities are often compromised, but implementing a care plan early can promote more meaningful conversations and informed recommendations for patients and caregivers, offering critical guidance and ongoing expertise to help preserve quality of life.”
Care plans can deliver significant healthcare benefits to patients, including improved short-term outcomes and more cost-effective care.[1] Studies have shown care plans can reduce emergency room visits, hospitalizations, and improve overall medical care, potentially saving $692 million over 10 years.[2],[3]

“We are pleased to award BrainCheck the ‘Care Management Innovation Award’ for its leading-edge care planning solution, which empowers providers and patients with more options and opportunities to protect and preserve brain health,” said Steve Johansson, managing director, MedTech Breakthrough. “The recent advent of disease modifying therapies and anticipated launch of the GUIDE Model this summer underscore the importance of new medical technologies to support cognitive care. BrainCheck Plan is equipping providers with an innovative solution to support the journey for patients and their families.”