Psynomics, a healthtech spinout of the University of Cambridge, has raised £2.4 million in funding to enable it to extend the reach of its mental health assessment app. The funding will give Psynomics the capital to brings its platform to more individual users and NHS trusts.
The app, Censeo, asks users a series of questions to gain a picture of their mental health, in an attempt to replicate the experience of a face-to-face assessment with a psychiatrist. Once the questions are answered, Censeo provides a report detailing a patient’s potential conditions and recommending next steps.
Psynomics is looking to tap into the surging demand for teleheath solutions that has emerged since the start of the COVID-19 pandemic. The company views Censeo as providing additional support for clinicians, rather than serving as a replacement for face-to-face assessments.
Initially, the company’s focus was on marketing its platform to medical institutions, and it conducted a pilot scheme last year with GP practices. Since then, it has extended use of the app to individual users, as well as undertaking more projects alongside NHS treatment providers.
The latest funding round was led by university spinout investor Parkwalk, with further backing from investors including Newable Ventures and Meltwind. The financing brings the company’s total funding to nearly £5 million and follows a previous October 2020 funding round which raised £1.5 million.
Psynomic CEO Stephanie Martlew said: “We’re excited to grow our team, expand further across the NHS and demonstrate with our partners that our technology can make a substantial difference in the accuracy, consistency and efficiency of mental health assessments in a wide range of clinical settings."