STAT+: Once a Silicon Valley darling, Mindstrong sells its mental health technology for parts
Mindstrong, once a Silicon Valley darling, is selling off its assets to the therapy platform SonderMind. Former employees told STAT that Mindstrong faced significant pressure from investors to commercialize its…
SAN FRANCISCO — Mindstrong, a high-profile mental health tech startup, is selling off its assets to the therapy platform SonderMind. The acquisition comes less than two months after Mindstrong laid off most of its employees and permanently shuttered its Menlo Park offices.
The deal caps a turbulent time for Mindstrong, which had drawn backing from heavyweight Silicon Valley investors like General Catalyst with its pitch to analyze people’s smartphone use for early signs of mental illness. Former employees told STAT last month that Mindstrong faced significant pressure from investors to commercialize the technology too soon, and struggled to regain its footing after the departure of key founders and other dramatic management shakeups.
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