Neurotrack bags $21M in Series C

Healthcare News

https___specials-images.forbesimg.com_imageserve_944800276_960x0 Neurotrack bags $21M in Series CNeurotrack, a Redwood City, California-based digital health company, as per recent reports, has just closed a Series C funding round, raising $21 million. The recent Series C was led by Neurotrack’s existing investor Khosla Ventures, with new strategic investments from Dai-ichi Life and SOMPO Holdings, and was participated by existing investors Sozo Ventures, Rethink Impact, and AME Cloud Partners. With this recent Series C funding, the company has, to date, raised more than $50 million in total funding.

Today, the world is facing a greater healthcare challenge with the rise of Alzheimer cases. To address this greatest challenge of our generations, it’s critical that tools for cognitive health are better accessible. Neurotrack, by harnessing its work learnings from Japan will identify additional partnerships in the international markets to better address the global Alzheimer crisis, which dominates in the US and China, having highest dementia-afflicted population figures in the world.

Neurotrack, with its Memory Health Program, is becoming a game-changer in the fight against Alzheimer. With the current world Alzheimer estimate hovering at around 50 million, with 2050 expectations to cross the 130 million mark, Neurotrack has figured out an efficient way to make cognitive health tools accessible to millions around the globe.

In 2018, Neurotrack partnered Dai-ichi Life, Japan’s 2nd largest life insurance company, to provide better access to its novel products to customers. Also, this year, in H1 2019, SOMPO conducted a 16-week pilot program with Neurotrack, where more than 550 of SOMPO’s employees took Neurotrack’s test and followed the Memory Health Program for four months.

With this new investment Neurotrack plans to advance its mission to bring forth the change on how people manage their cognitive health, promote its Memory Health Program, and continue its partnership excavations and developments in global markets.

“As the global crisis around Alzheimer’s continues to grow, the private sector is joining government and nonprofits to address the problem in their markets. In Japan, for example, traditional insurance companies are developing novel solutions that incorporate Neurotrack’s products to advance better memory health among its population,” stated Elli Kaplan, Neurotrack co-founder & CEO. “These partnerships are innovative models that we hope to replicate in other markets, enabling traditional insurance companies to create new markets while helping to address the Alzheimer’s crisis. And now they’re also investing in our company, so these companies have two ways of doing well by doing good.”