Ieso Digital Health raises £39m Series B round led by Morningside to expand digital therapeutics
Morningside led the Series B financing to support regulatory approvals and market entry for clinical software treatments.
Ieso Digital Health is a UK based digital mental healthcare provider that develops AI enabled therapeutics and assessment tools. The company leverages a vast therapy dataset to deliver evidence based clinical treatments.
Ieso Digital Health has secured £39m in a Series B funding round led by Morningside. The capital was backed by new participant Sony Innovation Fund alongside returning shareholders including IP Group, Molten Ventures, and Ananda Impact Ventures.
The proceeds will be directed towards obtaining regulatory approvals and driving commercial expansion in the US and UK markets. Ieso plans to deploy the funds to advance its autonomous digital therapy systems and clinical software treatments.
The financing follows significant growth for the company, which utilizes extensive therapy datasets to address global mental health challenges. Management intends to scale its commercial teams and establish distribution partnerships to broaden patient access.
From the founder
"At ieso, we’re looking to transform global mental health by unlocking the power of clinical data to develop AI-enabled digital therapeutics. Our experience delivering outstanding mental health care within the NHS ideally places us for starting to tackle this challenge. A new generation of clinically-validated digital mental health care products could ultimately improve millions of lives. But we cannot do this alone, and look forward to working with our patients, clinicians, investors, as well as existing and future partners, to better serve those who require mental health support."
Nigel Pitchford
CEO at Ieso Digital Health
Investor perspective
"ieso’s advanced AI-driven digital therapeutics platform is further evidence of the power of data in the realm of mental health. By pairing one of the world’s largest databases in cognitive behavioural therapy, with sophisticated AI algorithms, ieso is delivering improved mental health care to patients with significant unmet need. We are proud to partner with them in this endeavor."
Stephen Bruso
Morningside Ventures, Morningside
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
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About the company
Ieso Digital Health
Digital mental healthcare provider developing AI enabled therapeutics.