Other5 June 2024

Psyomics secures £4m from Parkwalk Advisors to expand children mental health technology.

Parkwalk Advisors led the round with a £3.5m investment to fund new pediatric capabilities for the Censeo platform.

£4.0MOther

Share allotment filed at Companies House

Psyomics is a Cambridge spinout that develops artificial intelligence software to streamline mental health assessments and triage. Its platform Censeo builds detailed patient profiles to guide clinical treatment pathways.

Psyomics has secured £4m in fresh capital to expand its mental health assessment technology. The funding round was led by Parkwalk Advisors, which contributed £3.5m to support the company growth.

The proceeds will be directed toward developing new capabilities for children and young people within the Censeo platform, including triage, assessment, and neurodiversity screening. The company aims to address strain on mental health services by reducing administrative burdens and streamlining clinical workflows.

Developed from research at the University of Cambridge, the Censeo device uses smart algorithms to generate biopsychosocial profiles for patients. The latest financing highlights ongoing investor backing for university spinouts targeting healthcare delivery.

From the founder

"Mental health services continue to be in a challenged state in the UK and globally, with people waiting far too long for treatment. Censeo cuts waiting lists by reducing the administrative time burden, streamlining assessment processes and freeing up clinical time for healthcare professionals to spend treating patients. With these funds we can advance our platform, crucially developing a service for children, young people and their families and carers, expanding our reach so more people are able to get help sooner. Since Covid there has been an alarming downturn in children’s mental health, with record numbers of families seeking support. It is in everyone’s best interests to get these families the help they so desperately need and deserve."

Melinda Rees

CEO at Psyomics

Investor perspective

"Psyomics’ technology can help transform how we approach the assessment of mental health conditions not only in the UK but globally. Psyomics has an exciting pipeline of new technologies and services that will see it pioneer a more efficient approach to mental health diagnosis. It is an exceptional example of the contribution that the UK’s universities are making throughout healthcare, and we are delighted to help Psyomics scale and reach more people."

Martin Glen

Investment Director, Parkwalk Advisors