Opinion: What the recent failures of Mindstrong and Pear tell us about the future of digital mental health
Over the past five years, digital mental health has risen from a niche topic to a global health priority. Patients, researchers, regulators, and investors alike are thrilled by the potential of ubiquitous mobile technology like smartphones to help diagnose problems, monitor health, and even deliver evidence-based therapies. Two companies that came to embody this potential were Mindstrong for smartphone monitoring of mental health and Pear Therapeutics for FDA-approved apps and digital interventions. Mindstrong raised nearly $160 million, and Pear Therapeutics once had a $1.6 billion evaluation.
But in March, Mindstrong announced it was ceasing operations. And on April 7, Pear Therapeutics announced that it was filing for bankruptcy.
