Oasys raises $4.6M to expand AI-powered behavioral health platform
Behavioral health startup Oasys Health announced Wednesday that it has raised $4.6 million in funding to develop its artificial intelligence platform.
The New York-based company supports behavioral health organizations by automating tasks such as documentation, transcription, billing, scheduling and insurance reimbursement. It also syncs with wearables and apps like Apple Watch, Oura Ring, Strava and Flo to help providers understand their patients' health.
“The larger goal of Oasys is to make mental health more objective, measurable and data-driven. We are building the operating system for modern mental health,” Oasys co-founder and CEO Hashem Abdou said in an interview. “Oasys helps clinics automate practices with AI while providing clinicians with real-time insights from wearables and other data sources, especially patient data, so treatment isn’t just a once-a-week conversation but an ongoing, data-based care journey.”
The $4.6 million in funding includes a $4 million seed round led by Pathlight Ventures, with participation from Twine Ventures and Better Ventures, and a $600,000 pre-seed round from 1984 Ventures.
“Oasys is defining a new category of mental health care, moving beyond traditional EHRs and fragmented point solutions to build a truly comprehensive data backbone,” Pathlight Ventures' Charley Ma said in a statement. “The company's founding team has the technical depth and execution speed to set a new standard for how the world clinically understands and supports mental health. It's an honor to be part of their journey at the unique intersection of artificial intelligence, data infrastructure and clinical care.”
Abdou said that with the financing, Oasys will improve its artificial intelligence platform, deepen integration with wearable devices and health applications, expand its engineering and data science teams, and expand partnerships with providers.
Abdul said the world is currently facing a mental health crisis and at the same time, the mental health care system is very outdated and unresponsive. He believes that while other areas of healthcare have embraced data and automation, mental health has lagged behind, causing all sorts of problems.
“One is that clinicians are overwhelmed and overburdened,” he said. “They have a lot of administrative work to deal with, so they have less time to spend on providing better quality care to their patients. Obviously, as a result, patients are receiving more intermittent treatment, and once things really get worse and reach a breaking point, they tend to really seek treatment. We're trying to close that gap and bring the precision of modern medicine into mental health care as well.”
Abdou said there are other companies offering some of Oasys' capabilities. Abridge, for example, offers environmental transcription services—although it doesn't focus on behavioral health. What sets Oasys apart, Abdou said, is that it's an “operating system” that combines the EHR, AI co-pilot and real-world data in one place.
Photo: Dan, Getty Images
