Google invests in mental health specialist Quartet to expand machine learning team
GV (formerly Google Ventures) on Thursday contributed to a $40 million round of funding into Quartet. The startup said it will use the money to expand its core engineering and product capabilities and to scale its machine learning team.
The investment marks GV’s second this week. On Tuesday, GV was part of a $58 million round raised by DNAnexus and its platform for sharing biomedical and genetic datasets.
Quartet sells what it described as a virtual environment for shared care planning that deploys algorithms to pinpoint patients with potential or unidentified mental health conditions and connect them to behavioral health specialists.
The technology achieves that by binding together local mental health specialists and live psychiatry consults for providers with data-driven insights through adaptive learning algorithms and concierge-like support for patients.
“Making collaboration between primary care physicians and behavioral health specialists work is a must if we are ever going to improve the overall health of our country,” Quartet founder and CEO Arun Gupta said in a statement. “The bridge between mental and physical health is being built with technology leading the charge.
The new Series C round of funding brings the total amount of capital raised to date by Quartet to $87 million. The financing was led by F-Prime Capital Partners and Polaris Partners with all existing investors participating, including Oak HC/FT and GV (formerly Google Ventures), and new investor Deerfield Management.
Quartet will add three executives to its board of directors: Carl Byers, executive partner at F-Prime Capital; Ken Goulet, former executive vice president and president of commercial and specialties businesses at Anthem and Lanham Napier, former CEO of Rackspace and co-founder at BuildGroup.