Our Investment in Osmind
By Dr. Derick En’Wezoh, Investor at Susa Ventures
Susa Ventures is excited to announce our investment in Osmind, a San Francisco-based public benefit corporation building the premier technology platform for breakthrough mental health treatment and research. Osmind recently announced their $40 million Series B round. Susa participated in the round alongside DFJ Growth, which led the round, General Catalyst, and Tiger Global. We are thrilled to welcome Lucia Huang, Jimmy Qian, and the rest of the team at Osmind to the Susa Family!
Susa has been investing at the leading edge of healthcare since our inception. Our portfolio demonstrates our deep commitment to investing in healthcare technologies that improve healthcare access and outcomes while accelerating the pace of medical innovation.
Approximately five years ago we invested in a company called Viz.ai, led by Drs. Chris Mansi and David Golan. At the time, Viz.ai was a small startup building AI-powered algorithms to detect acute strokes and other neurovascular diseases on medical images of the brain. We spent a significant amount of time exploring the intersection of healthcare and AI and better understanding Viz.ai’s broader vision to use data to accelerate the development of new life-saving treatments. It became clear to us that the marriage of modern healthcare platforms with compounding data flywheels can unlock massive opportunities in healthcare.
Fast forward to today, Viz.ai is a unicorn in AI-powered disease detection, care coordination, and clinical trial advancement. Viz.ai has raised over $250 million from the world’s top investors, is installed in over 1,000 hospitals, has a global reach to millions of patients, and has launched a first-of-its-kind AI-enabled life sciences practice aimed at accelerating neurovascular research.
With the COVID-19 pandemic triggering a renewed focus on mental health and favorable regulatory advancements, we believe interventional psychiatry research is in a renaissance and Osmind is well-postured to fuel innovation in the space.
Similar to how Viz.ai is accelerating neurovascular clinical trials, Osmind is driving a revolution in psychiatry. Osmind has built a robust data network and two-sided platform by vertically integrating its electronic health record (EHR) platform with its real-world evidence (RWE) engine.
The COVID-19 pandemic revealed an immense unmet need for serious mental health. Nearly 6% of all Americans suffer from serious mental illness — costing our healthcare system over $400 billion annually. Today, psychiatrists rely on pen and paper documentation or ill-suited EHRs to deliver care, and drug developers lack the high-quality, structured data they need. Thankfully, psychiatry is undergoing a fundamental shift, with new research and potential treatments such as psychedelic medicine bringing hope to patients.
Osmind is critical to bringing forth this change. Within the last 18 months, Osmind has become the category leader in technology and research for mental health clinicians and scientists. They support hundreds of practices across the United States and have amassed an unparalleled dataset focused on patients with moderate to severe mental health conditions. This dataset will help pharmaceutical, biotech, and care delivery companies develop and commercialize the next wave of treatments in mental health.
We’re thrilled to partner with the team at Osmind as they fuel a revolution in breakthrough mental healthcare and research.
If you’d like to join Osmind on their journey, check out their open roles here: https://www.osmind.org/careers