N.Y.C., U.S.A. and London, United Kingdom-based leading clinical mental health A.I. technology company Limbic raised USD 14 million. The company announced the fundraising on March 5, 2024. Khosla Ventures led the financing for the company. Meanwhile, new investors, such as Gaingels, an LGBTQIA+/Allies investment syndicate, and Illusian, the family office of Ilkka Paananen, co-founder of Supercell, joined the round.
Purpose of financing for Limbic
The funding seeks to expand the availability of Limbic’s clinical mental health A.I. to U.S.A. health providers.
What the company’s official has to say
Dr Ross Harper, C.E.O. and co-founder of Limbic said, “The global behavioural healthcare sector is grappling with a critical workforce supply challenge. Care providers are experiencing burnout, and services are stretched thin, operating on slim margins. Our recent funding reaffirms our commitment to scaling impactful, safe, and regulatory-compliant mental health A.I. solutions. Our A.I. was developed to enhance the capabilities of human clinicians, amplify their expertise, and extend high-quality care to meet everyone’s needs. We’ve also bolstered business outcomes for service providers and assisted in increasing workforce capacity thanks to increased operational performance.”
What the investors have to comment
Vinod Khosla of Khosla Ventures said, “There is a grave shortage of mental healthcare providers across the globe. A.I. will allow us to realize the potential of near-free access to such care for everyone, independent of provenance and socioeconomic status. Limbic is at the forefront of this important and ambitious goal, and we are proud to partner with them.”
In addition, Gaingels’ Managing Director, Lorenzo Thione, said, “Besides the strength of its business opportunity, Limbic’s success in helping minority groups access mental healthcare played a big role in our investment in the company. Limbic’s use of artificial intelligence to increase participation in mental health services for LGBTQ+ and non-binary patients is a great example of how A.I. can measurably improve people’s lives through safe, universal and non-judgmental access.”
About the company
The largest public healthcare system in the world has validated Limbic’s clinical mental health AI. Over 260,000 NHS patients have benefited from Limbic’s assistance in accessing care, freeing up over 50,000 clinical hours for N.H.S. services and saving up to five to ten times the economic cost for each extra user recovery.The first Generative AI companion for mental health care in the world, provided by Limbic, supports users in between therapy sessions. With the help of a sophisticated clinical artificial intelligence (A.I.) brain, a smooth chatbot interface leads patients through a selection of 100 themed activities and educational resources, offering on-demand mental health care with professional rigour.
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