Series A27 October 2020

Psyomics raises £1.5m in Series A follow-on funding led by Parkwalk to commercialise its Censeo diagnostic platform.

Parkwalk led the follow-on investment round to support the market launch of the company's mental health assessment tool.

£1.5MSeries A

Psyomics develops digital mental health assessment tools designed to improve diagnosis and streamline clinical pathways for patients and healthcare providers.

Cambridge-based healthtech firm Psyomics has secured £1.5m in a Series A follow-on funding round led by Parkwalk. The capital injection includes participation from existing backers including Jonathan Milner, Martlet, and Cambridge Enterprise.

The newly acquired funds will support the commercial launch of the company's mental health diagnostic platform, Censeo, within the UK market. The technology aims to alleviate strain on primary care services by streamlining patient assessment and triage.

The raise arrives as healthcare providers face heightened demand for mental health support, exacerbated by pandemic conditions. Censeo is designed to provide clinicians with detailed patient insights to accelerate accurate diagnoses.

From the founder

"Diagnosing mental health issues correctly in primary care can be difficult, due to time constraints and the fact that mental health conditions can be masked by physical symptoms. Delays in diagnosing—or misdiagnosis—mean that it can take several years for an individual with depression to be correctly diagnosed. For bi-polar disorder the average delay is six to eight years. The consequence of this is that many people suffer unnecessarily from debilitating symptoms that could be successfully treated. It is clear that faster and earlier diagnosis followed by the most appropriate treatment will improve the quality of life of affected individuals, while at the same time relieving pressure on the healthcare system"

Sabine Bahn

Co-founder at Psyomics

Investor perspective

"Covid-19 has accelerated adoption of digital tools for a wide range of applications, and Psyomics’ clinical and tech-led diagnostic tool can transform mental health diagnosis. We have always felt that what sets Psyomics apart is its deep clinical roots/knowledge. We are pleased to be a part of this next funding round and look forward to seeing Psyomics continue to grow with its market-ready product"