A Dublin based digital health company that provides online counselling and behavioural healthcare has secured just over $8m in its latest round of funding.
SilverCloud was founded in 2012 as a spin out company arising from a collaboration between the National Digital Research Centre, the Mater Hospital and Trinity College Dublin.
The funding round was led by Facebook co-founder Eduardo Saverin. It also saw strong participation from Irish investors including ACT Venture Capital, Investec, AIB Seed Capital Fund and the NDRC.
SilverCloud has supported over 80,000 patients across around the world in the four years since its inception.
The company's chief executive and co-founder Ken Cahill said the company is defining a new healthcare model to meet the demand of the rapidly growing behavioural healthcare market.
This market is estimated to be worth $375 billion in the US alone.
"We believe that technology is the enabler to address the biggest healthcare challenge of this century, maximising clinical delivery while enhancing patient access and choice, through the ability to engage with therapy at a time that fits into diverse lifestyles and through devices that are a part of our everyday lives," Mr Cahill said.
