Owl Insights, a US-based mental health therapy evaluation spinout of University of Washington, has collected $15.5m in a round co-led by Blue Venture Fund, the corporate venture affiliate of healthcare services provider BlueCross BlueShield, according to Portland Business Journal.

Ascension Ventures, a venture capital firm backed by 13 health systems, also co-led the round with participation from venture capital firm First Trust Capital Partners, regional VC vehicle Portland Seed Fund and Entrepreneurs Fund.

Founded in 2013, Owl Insights has built a software platform that helps mental healthcare providers track the impact of therapy as reported by adult, child and adolescent patients.

The software is accessed through a web or mobile-based interface where patients are able to fill out a form to help clinicians quantitatively measure their mood and behaviours during treatment.

Owl Insights will utilise the funding to expand product and distribution as it looks to grab market share at a time when pressures related to the covid-19 pandemic have led more to consider mental health therapy.

Corey Fagan, a licensed clinical psychologist and director of UW’s Psychological Services Traning Center, co-founded Owl Insights alongside Jon Hauser, director of the university’s School of Social Work.

The spinout had previously raised about $340,000 in equity funding and debt in a 2016 round according to a regulatory filing, with Entrepreneurs Fund and Portland Seed Fund participating in the latest round as existing investors.

– This article first appeared on our sister site, Global University Venturing.

Owl Insights, a US-based mental health therapy evaluation spinout of University of Washington, has collected $15.5m in a round co-led by Blue Venture Fund, the corporate venture affiliate of healthcare services provider BlueCross BlueShield, according to Portland Business Journal.
Ascension Ventures, a venture capital firm backed by 13 health systems, also co-led the round with participation from venture capital firm First Trust Capital Partners, regional VC vehicle Portland Seed Fund and Entrepreneurs Fund.
Founded in 2013, Owl Insights has built a software platform that helps mental healthcare providers track the impact of therapy as reported by adult, child and adolescent patients.
The software is accessed through a web or mobile-based interface where patients are able to fill out a form to help clinicians quantitatively measure their mood and behaviours during treatment.
Owl Insights will utilise the funding to expand product and distribution as it looks to grab market share at a time when pressures related to the covid-19 pandemic have led more to consider mental health therapy.
Corey Fagan, a licensed clinical psychologist and director of UW’s Psychological Services Traning Center, co-founded Owl Insights alongside Jon Hauser, director of the university’s School of Social Work.
The spinout had previously raised about $340,000 in equity funding and debt in a 2016 round according to a regulatory filing, with Entrepreneurs Fund and Portland Seed Fund participating in the latest round as existing investors.