Meru Health raises EUR 4.2 million in funding
Digital health company Meru Health has raised 4.2 million euros in a seed funding round led by Freestyle Capital and supported by Bonit Capital, Y Combinator, Lifeline Ventures and IT-Farm.
The fresh capital will complement Meru Health’s ongoing clinical validation process for its digital therapeutic programme to treat depression and anxiety. The funding will also help the company to get ready for the large-scale launch of the solution to new corporate clients in the US.
“Having met with scores of mental health startups over the last year, it was Meru’s full-stack hybrid approach, plus Kristian and his team’s dedication, that spurred Freestyle’s decision to lead Meru’s seed,” commented Josh Felser, founder of Freestyle Capital.
Meru Health also announced a successful peer-reviewed study of its therapeutic programme. Published at the beginning of 2019, the study showed a reduction in depression symptoms and an 80 per cent completion rate for the programme.
“Although evidence-based treatments for depression exist, many people do not access them or wait several years before seeking treatment,” elaborated Christine Gould, investigator at VA Palo Alto Health Care System and affiliate instructor at Stanford University School of Medicine. “Digital mental health interventions may help people with depression and other mental health conditions get treatment more easily.”
Mental health issues affect annually 25 million Americans, of which it is estimated that only half have access to proper care. Companies are affected by the resultant loss of productivity and steady stream of healthcare expenses. Meru aims to lower the threshold for seeking help for individuals and to provide companies the tools to provide proper help.