Behavidence 🤳

setting the scene

• we've all been in that situation where after talking about a product, an ad shows up for it on social media... 👀

• our digital behavior allows big tech companies to capitalize on our online footprints by targeting us with specific content and products 👣

• while tracking might provide a more tailored online experience, it may come at the expense of users' well-being 🚫

• what if analyzing phone usage could actually help improve wellness? 🔄

• this week's company tracks mobile behavior to diagnose and manage mental health conditions 📱

in a sentence

Behavidence is a platform that aids with the diagnosis and management of mental health disorders through behavioral markers

• diagnosis: users get a similarity score based on how their digital behavior compares to those with conditions such as anxiety, depression, PTSD, and ADHD

• markers: examples include apps opened and duration of app use

  • interpreting and quantifying this data is referred to as digital phenotyping

bulleted version: similar to how Netflix uses digital behavior to recommend a new show, Behavidence analyzes phone usage to help monitor mental health 📺

the basics

• industry: mental health, digital phenotyping

• headquarters: New York, NY

• year founded: 2020

• company size: <20 employees 💼

• investors: Fusion LA, Welltech Ventures, Longevity Venture Partners, GoAhead Ventures, IMDO, ARC IMPACT, Kicker Ventures

• amount raised: 5.6m in total funding post seed

• business model: b2b

due diligence

what we like

• 💨 pandemic tailwinds: spend on mental health technology has accelerated, and mental health tech startups raised $5.5b in 2021, up 139% from 2020

• 🔢 based on data: screening, diagnosing, and managing mental health conditions have historically been based on clinical interviews, which are expensive and subjective

• 🔎 validation through research: Behavidence's data is reliable and scientifically validated to help influence the future of diagnosis

potential risks

• 🔒 privacy: while Behavidence has a comprehensive privacy policy, tracking digital behavior may raise ethical questions

• 😰 self-monitoring: could having constant access to a mental health score cause some users additional stress?

• 👩🏽‍⚕️ not a standalone tool: Behavidence must work in conjunction with healthcare professionals to improve mental health disorders

founder profiles

• Roy Cohen (CEO; prev. @ vidmob, Meta, Wix)

• Girish Srinivasan (CTO; also founder/CTO @ PMX; prev. @ Samsung, GE Healthcare)

comps

• Thoughtfull

• Apple & Biogen are both entering the digital phenotyping space

why Behavidence: early user behavior shows strong traction with 40k installs and 9k daily active users; this demonstrates the platform's potential to help individuals understand their mental health conditions 🧠