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21 April 2020
SilverCloud Health

Mental health platform SilverCloud Health raises £12.7M

Digital mental health platform SilverCloud Health has received £12.7M from MemorialCare Innovation Fund, LRV Health, OSF Ventures and Unity Point Health Ventures. SilverCloud’s services are used by more than 300 organisations globally, including over 70% of NHS mental health services.

The platform provides more than 30 mental health programmes from wellness and resilience to chronic issues. In 2019, SilverCloud Health partnered with Microsoft Labs in Cambridge to explore how machine learning and artificial intelligence could be used to personalise mental health care.

Together, the companies are researching how digital therapeutics can be tailored to address each individual’s unique care needs. This includes providing early interventions that ensure patients have access to the right support at the right time, and in the right context.

“We are committed to providing truly impactful mental health support to all those with need. The need has never been greater than during this unprecedented global crisis. With millions of people being asked to stay home and health systems needing to prioritise care, we recognise the heightened need for virtual support as the world copes with the COVID-19 pandemic. In response, SilverCloud is providing its clients, free of charge, expanded access to its platform to even more healthcare professionals, their families and patients to help make a difference for those in need in the current crisis.” – Ken Cahill, CEO of SilverCloud

SilverCloud Health will use this funding to expand its US and Europe services – mental health programmes for people who need them – and to develop innovative approaches to therapy for a range of psychological issues.

“Our investment in SilverCloud Health is driven by our confidence in its team, its proven track record working with global health organisations and its esteemed partner network. This new capital will enable SilverCloud Health to continue to innovate, expand and broadly deploy its programmes to the millions of individuals who need them.” – Raj Ganguly, co-founder and partner of B Capital Group