Backpack Healthcare, a US-based developer of an AI-backed paediatric healthcare platform, has raised $14 million in a Series A funding round to transform mental healthcare in children.
As the company announced on Wednesday, May 8, 2024, the funding round was Led by PACE Healthcare Capital, including significant investments from Bridge Builders Collaborative, Genius Guild, ECMC, Techstars, Collab Capital, Hopelab, Unlikely Collaborators, Rethink Education, and Portland Seed Fund. The round also included the participation of angel investors Maya Ghosn Bichara and Jeffrey Walker.
Founded in 2018 by Hafeezah Muhammad, who is the company’s CEO, Backpack Healthcare uses an AI-backed app to enhance access to pediatric mental healthcare in Maryland and Virginia AI-powered app that monitors user behavior and emotional changes and matches them with an appropriate specialized therapist for personalized treatment plans.
In addition to the intelligent app, Backpack Healthcare offers teletherapy services backed by telemedicine to children and families, enhancing their access to therapy and medication management through live parent training sessions on key topics such as substance abuse.
Backpack will use the latest funding to advance its AI-powered app and teletherapy services to help address critical mental healthcare needs for Medicaid-enrolled youth, ensuring equitable access to mental healthcare for all children regardless of their socioeconomic backgrounds.
The company is also working to extend its services to other states while continuing its research and development work to advance AI innovation in mental healthcare.
While the latest funding marks a milestone in Backpack Healthcare’s commitment to equitable access to mental support for all children, it also underscores the need for more inclusive tech-backed solutions in the US healthcare system to tackle the ongoing pediatric mental health care crisis.
