Soundmind Receives Investments From HearstLab and New York Ventures

Wednesday, December 11, 2019 Senior Health News
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Two New York institutions, New York Ventures and HearstLab, made investments in a company that is transforming the way care is delivered to older adults.

NEW YORK, Dec. 11, 2019 /PRNewswire-PRWeb/ -- Soundmind announced its recent round of investments by HearstLab and New York Ventures. Soundmind is the creator of a voice-activated ecosystem for senior care focused on three pillars: concierge services, curated content and care communications. Soundmind's voice assistants are secure, easy to use and fully personalized with care plans, calendars, menus, request routing, cognitive games, family contacts and many other features optimized for senior living.

The company's national client base spans the senior living industry, and its voice-activated solution is implemented in skilled nursing facilities, assisted living, independent living and by homecare providers. This year, Soundmind's collaboration with The 80th Street Residence (a memory care community) was recognized by McKnight's Senior Living with an Excellence in Technology Award.

HearstLab, whose parent organization is Hearst, is focused on investing in early-stage, women-led startups that innovate across media, technology and data. Additionally, startups in HearstLab receive access to numerous Hearst resources to help grow their companies.

Commenting on the announcement, Chris Wilkes, vice president of HearstLab, said: "HearstLab invests in talented, diverse teams that are changing the world for good, using media, technology and data. We were immediately attracted to Soundmind because of both its passionate co-founders and impressive product offering, which pushes the boundaries of healthcare technology to make service and care more accessible, impactful and enjoyable."

The mission of New York Ventures, the venture capital investment arm of Empire State Development, is to promote a vigorous and growing state economy, encourage business investment and job creation and support diverse, prosperous local economies across New York State. New York Ventures provides support for early-stage ventures, including the research and development of new technologies.

"Soundmind's web platform allows assisted living facilities to better provide and manage patient care through voice assistants and devices. This investment demonstrates how New York State's role assisting tech startups is beneficial to both the industry and improving people's lives," Eric Gertler, Empire State Development acting commissioner and president and CEO-designate, said. "New York Ventures is proud to support the company's diverse and talented team as it grows in the Empire State."

Founded by Erum Azeez Khan and Andy Kropa, Soundmind is on a mission to transform healthcare by facilitating social connectedness and streamlining care delivery through A.I. assistants and analytics.

"The tremendous support we received from HearstLab and New York Ventures will help grow our company to the next level," Khan said. "In addition to the financial investments, their mentorship and networks give us the foundation to develop a product that delivers real outcomes such as decreases in depression and helping overworked caregivers at scale."

About Soundmind Soundmind's mission is to transform senior living by empowering older adults, assisting caregivers and strengthening intergenerational relationships. Soundmind is located at 300 West 57th Street, 33rd Floor, New York NY 10019. Visit Soundmind for more information.

About HearstLab HearstLab is a community of early-stage, women-led startups working inside Hearst. HearstLab invests in startups innovating in media, technology and data, where connectivity with any of Hearst's 360+ businesses is a difference-maker for a founding team. In addition to cash investment, the startups in HearstLab gain access to a number of resources within Hearst to help grow their businesses.

About New York Ventures New York Ventures is the venture capital investment arm of Empire State Development, New York State's chief economic development agency. New York Ventures meets the critical capital needs of the state's innovation economy by providing funding to high-growth startups as they move from concept to commercialization through early growth and expansion.

 

SOURCE Soundmind



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