Woebot Health raises $90M for Digital Therapeutics

Weobot Health has now raised up to $114 million after receiving a further $90 million in Series B funding for their mental-health centred digital therapeutics

The digital therapeutics provider that specialises in mental health treatment saw a massive boost to their balance sheet as JAZZ Venture Partners and Temasek co-led the funding round. Funds and accounts managed by BackRock Private Equity Partners and Owl Ventures. Mirae Asset Capital, Kicker Ventures, Alumni Ventures and Gaingels also participated, as did existing investors NEA and AI Fund.
According to their website, the AI-powered Woebot Health Platform “provides the foundation for our digital therapeutics and clinical tools that support a lifelong journey of mental health”.
“Woebot, the digital therapist at the heart of our platform, is a therapeutic relational agent capable of quickly forming a bond with users and delivering human-like therapeutic encounters that are targeted using multidisciplinary tools, psychologically related, and responsive to a person’s dynamic state of health.”
The injection of funds into the company will go a long way to help them expand their team and go-to-market activities and further drive them to develop its relational platform and technologies and its lead digital therapeutic candidates.
The company plans to use its new funding to further develop its relational platform and technologies, advance its lead digital therapeutic candidates and expand its team and go-to-market activities.
In a press release announcing the news, Woebot Health CEO Michael Evers said, “We’re at a moment when mental health issues are front and centre in a global conversation, and there’s incredible momentum to apply cutting-edge approaches to help solve real human problems.”
“It’s gratifying that some of the world’s leading investment groups see the same potential for relational technologies to deeply engage people in their mental health at scale, and to transform care. We’re thrilled they are aligned on our core vision and energized by their commitment to advance the next frontier of technology-enabled mental health care.”

Med-Tech World: 18th-19th November 2021

The Med-Tech World conference, which follows a successful digital event in 2020, will run from 18th-19th November 2021 and will highlight innovations and developments in digital health across the globe. With so many countries realising the potential for exponential growth, Med-Tech World will address the opportunities and challenges driving this multi-million forum – embracing the potential for technological innovation to change the face of medicine in this global sector. Register your interest here!