Moneta Health, a brain health startup delivering AI-powered cognitive rehabilitation therapy, has secured $4.5 million in funding. The company is advised by Kent Bradley, president of 10X Health, which was co-founded by entrepreneur Grant Cardone.
The startup, which announced the funding round on Sept. 23, has developed an AI-powered platform that delivers cognitive rehabilitation therapy through phone-based sessions, eliminating the need for apps or high-speed internet connections.
The Las Vegas-based company also announced a multiyear partnership with Benefis Health System in Montana to expand access to cognitive care in regions with limited neurology services.
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AI-Powered Brain Therapy Delivers Clinical Results That Exceed Industry Standards
The startup’s clinical outcomes show significant improvements over traditional therapy methods, according to data presented by the company at the Alzheimer’s Association International Conference in Toronto in July. Patients using Moneta Health’s platform experienced an average 18% improvement in cognitive function, compared to the U.S. national benchmark of 13% for traditional outpatient therapy.
Cognitive impairment affects 32% of adults over 65, impacting 250 million people globally, according to Moneta Health. Despite proven benefits of cognitive rehabilitation therapy, fewer than 20% of patients access this treatment in outpatient settings, according to the announcement.
“Cognitive rehabilitation therapy, which is like physical therapy for the brain, is a proven behavioral intervention for slowing cognitive decline and preserving independence,” Moneta Health co-founder Jen Flexman said. “Despite the benefits, fewer than 20% of patients are accessing this treatment in outpatient settings.”
Moneta Health says its platform operates through a unique model where patients speak with licensed therapists by phone and engage in cognitive exercises between visits using the company’s AI-powered therapy assistant.
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Personal Tragedy Inspires Healthcare Innovation Mission
Moneta Health co-founder and CEO Paul A. Campbell founded the company following a personal experience with his mother’s dementia diagnosis in 2017. The experience highlighted gaps in accessible cognitive care options for families navigating cognitive decline, the company said.
“Making cognitive care more accessible is a personal mission,” Campbell said. “My mother was diagnosed with dementia in 2017. I wish we had a platform like Moneta earlier in our family’s journey to maintain her cognitive function for longer.”
The $4.5 million funding round attracted investment from prominent venture capital firms, including True Ventures, American Medical Association’s venture studio Health2047, Impact America Fund, BKR Capital, Koru, Ontario Teachers’ Pension Plan, and the Centre for Aging + Brain Health Innovation.
This funding follows a $2.2 million pre-seed round raised in March 2023, led by True Ventures shortly after Moneta was founded, according to the statement.
“Moneta is the second time we’ve invested in a company founded by Paul,” True Ventures co-founding Partner Phil Black said. “The company is solving an important problem in a growing market that touches so many lives.”
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Montana Partnership Targets Underserved Populations in Neurology Deserts
Benefis Health System in Montana represents Moneta’s strategic focus on serving neurology deserts where specialist access remains limited.
“We are excited to partner with Moneta to make personalized, evidence-based cognitive rehabilitation the standard of care for our patients and families,” Benefis Health System President of System Clinical Operations Greg Tierney said. “Montana is vast and has the sixth-oldest population in the nation. Moneta’s proven program is an accessible approach to proactive brain health for our aging demographic.”
Moneta currently operates virtual clinics treating patients in Florida, Nevada, Washington, and West Virginia, with plans to expand nationally. The program receives reimbursement from Medicare, TRICARE and a growing number of Medicare Advantage plans, including Aetna, Blue Cross, Humana, OPTUM and Sunshine Health, according to the statement.
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