Woebot Health

Woebot Health

AI-powered platform for on-demand mental health support

About Woebot Health

Simplify's Rating
Why Woebot Health is rated
A-
Rated B on Competitive Edge
Rated A on Growth Potential
Rated A on Rating Differentiation

Industries

AI & Machine Learning

Healthcare

Company Size

51-200

Company Stage

Late Stage VC

Total Funding

$119.9M

Headquarters

San Francisco, California

Founded

2017

Overview

Woebot Health provides an AI-powered platform that offers behavioral health support to adults, focusing on supplementing traditional clinical care. The platform utilizes Cognitive Behavioral Therapy (CBT) techniques to guide users through their mental health journeys, delivering tools and insights with empathy. It is designed for adults who may not have access to conventional therapy, especially during regular office hours, and is available on-demand for various issues like relationship challenges and self-worth concerns. Woebot Health operates on a B2B model, partnering with Integrated Delivery Networks (IDNs) to integrate its platform into their Electronic Medical Record systems, ensuring seamless access for patients. The platform has received high satisfaction ratings from users, with a significant amount of support provided outside of work hours. The goal of Woebot Health is to expand access to mental health services and improve the overall mental well-being of individuals.

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Significant Headcount Growth
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Simplify's Take

What believers are saying

  • Winning the 'Mental Health Innovation Award' boosts Woebot Health's credibility and visibility.
  • Partnerships with healthcare providers expand access to mental health support amid clinician shortages.
  • Increased employer adoption of AI mental health apps indicates a growing market for Woebot.

What critics are saying

  • Heightened competition as more employers adopt AI mental health apps for employees.
  • Concerns about AI efficacy and ethics could affect Woebot Health's acceptance and reputation.
  • Lindus Health's comprehensive CRO services may attract clients away from Woebot Health.

What makes Woebot Health unique

  • Woebot Health uses AI to provide personalized mental health support at scale.
  • The platform integrates with IDNs' Electronic Medical Records for seamless healthcare delivery.
  • Woebot Health offers 24/7 support, addressing mental health needs outside traditional hours.

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Funding

Total Funding

$119.9M

Above

Industry Average

Funded Over

4 Rounds

Notable Investors:
Late VC funding comparison data is currently unavailable. We're working to provide this information soon!
Late VC Funding Comparison
Coming Soon

Growth & Insights and Company News

Headcount

6 month growth

10%

1 year growth

9%

2 year growth

11%
Street Insider
Aug 20th, 2024
Akron Children's Signs Agreement With Woebot Health to Deliver Digital Mental Health Support Tool to Adolescents

Akron Children's has partnered with Woebot Health to make Woebot for Adolescents available through clinician referral to 13-17-year-old patients.

Business Wire
May 9th, 2024
Woebot Health Wins Medtech Breakthrough’S Mental Health Innovation Award

SAN FRANCISCO--(BUSINESS WIRE)--Woebot Health today announced that it has won the “Mental Health Innovation Award” in the 8th annual MedTech Breakthrough Awards program conducted by MedTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global digital health and medical technology market. The honor recognizes the Woebot Health Platform, which is built on a foundation of clinically proven techniques and infused with artificial intelligence (AI). The platform offers instantly accessible, chat-based, adjunctive mental health support and the tools and insights needed to enhance the care experience, automate the collection of population insights and increase provider efficiency. The award also recognizes Woebot, the digital companion at the heart of the platform that delivers personalized, in-the-moment support through chat-based conversations and techniques. Woebot's conversations are written by conversational writers using elements from evidence-based approaches like Cognitive Behavioral Therapy (CBT), Interpersonal Psychotherapy (IPT) and Dialectical Behavioral Therapy (DBT), along with collaboration from clinical experts. “We’re thrilled and honored to once again receive an award from MedTech Breakthrough,” said Woebot Health CEO Michael Evers

Business Wire
May 9th, 2024
Woebot Health Wins Medtech Breakthrough'S Mental Health Innovation Award

SAN FRANCISCO--(BUSINESS WIRE)--Woebot Health today announced that it has won the “Mental Health Innovation Award” in the 8th annual MedTech Breakthrough Awards program conducted by MedTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global digital health and medical technology market. The honor recognizes the Woebot Health Platform, which is built on a foundation of clinically proven techniques and infused with artificial intelligence (AI). The platform offers instantly accessible, chat-based, adjunctive mental health support and the tools and insights needed to enhance the care experience, automate the collection of population insights and increase provider efficiency. The award also recognizes Woebot, the digital companion at the heart of the platform that delivers personalized, in-the-moment support through chat-based conversations and techniques. Woebot's conversations are written by conversational writers using elements from evidence-based approaches like Cognitive Behavioral Therapy (CBT), Interpersonal Psychotherapy (IPT) and Dialectical Behavioral Therapy (DBT), along with collaboration from clinical experts. “We’re thrilled and honored to once again receive an award from MedTech Breakthrough,” said Woebot Health CEO Michael Evers

PYMNTS
Apr 10th, 2024
Mental Health Sector Is Adopting Ai-Powered Apps For Accessible Care

The mental health arena is buzzing with the entry of AI-powered apps that promise fast and accessible care. Amid soaring demand for mental health support, artificial intelligence (AI) apps are sparking debate among experts. These tools offer hope for bridging care gaps but come with concerns over efficacy and ethics. As the field navigates this digital wave, experts say the challenge lies in determining whether AI can genuinely complement the human touch in mental health care or if it serves merely as a high-tech stopgap. “AI is incredibly useful for mental health apps because it can personalize care at scale, offering tailored support and interventions based on individual user data,” Derek Du Chesne, CEO of Better U, a mental wellness company, and creator of the Better U mental wellness app and patient portal, told PYMNTS

PR Newswire
Mar 19th, 2024
Lindus Health Introduces Comprehensive "All-In-One Cro" Package For Cns, Neurology, And Psychiatric Clinical Trials

NEW YORK, March 19, 2024 /PRNewswire/ -- Lindus Health , the "anti-CRO" running radically faster, more reliable clinical trials for life science pioneers, has launched an all-in-one package of contract research organization (CRO) services tailored for CNS, neurology, and psychiatric clinical trials. The "All-In-One CNS, Neurology and Psychiatry CRO" empowers sponsors within these therapeutic areas to execute more nimble and successful clinical trials.Sponsors will have access to traditional full-service CRO expertise, internal site, and Principal Investigator (PI) knowledge, all enhanced by Lindus Health's innovative Citrus™ technology platform. With a solid background in managing CNS studies, Lindus Health has successfully completed 28 end-to-end trials across CNS, Neurology, and Psychiatry involving over 8,000 participants across the US, UK, and Europe to date, addressing 16 disease indications within this therapeutic area."Neuro studies notoriously have a high failure rate compared to other disease areas for many reasons. Some of these are beyond our control, but in general they require longer follow-up periods and more intensive recruitment and retention tactics due to the nature of these conditions," said Samantha Brooks, Trial Manager at Lindus Health. "I am enthusiastic about the launch of our 'All-In-One CNS, Neurology and Psychiatric CRO' offering, so we can greatly improve the logistical barriers that hold these trials back from seeing success."Lindus Health has garnered respect for its efficacy in advancing neurology and psychiatric solutions to the market, backed by a prestigious advisory board that includes the likes of Robert Langer , a noted MIT professor and Moderna co-founder, alongside Acacia Parks , CMO at Allico with over 20 years of experience in the mental health space.Lindus Health has had the privilege of taking on numerous exciting trials with the potential to change the way patients receive treatment and care for their neurological and psychiatric conditions. They've collaborated with sponsors including CoMind , Pharmanovia , Woebot Health , Arcade Therapeutics , Sanna Science , and more.The "All-in-One CNS, Neurology and Psychiatric CRO" offering from Lindus Health encompasses:Comprehensive trial management and execution: From protocol design and participant recruitment to data management and reporting, Lindus Health's clinical operations team resumes vast experience in all aspects of CNS and psychiatry study execution.From protocol design and participant recruitment to data management and reporting, Lindus Health's clinical operations team resumes vast experience in all aspects of CNS and psychiatry study execution

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