Akili Interactive, a Boston MA-based digital therapeutics company, raised $160M in funding.
The $110m equity round, which brought total equity funding to date to $230M, was led by Neuberger Berman Funds with participation from new investors Polaris Partners; Mirae Assets; Shionogi & Co., Ltd., New Leaf Venture Partners; Dave Baszucki, Founder and CEO of Roblox Corporation; QUAD Investment Management, and Ladera Venture Partners and existing investors Temasek, Baillie Gifford, JAZZ Venture Partners, Evidity Health Capital, Omidyar Technology Ventures, Fearless Ventures, Amgen Ventures, and M Ventures.
In conjunction with the Series D financing, Akili also closed a credit facility for up to $50M with Silicon Valley Bank.
The company intends to use the funds to:
- accelerate commercialization of its flagship treatment EndeavorRx™,
- expand its core technology to treat acute and chronic cognitive disorders, and
- drive further research and development of new technologies to treat broader range of conditions.
Led by Eddie Martucci, PhD, co-founder and CEO, Akili Interactive is the maker of EndeavorRx™, a FDA-cleared treatment delivered through a video game experience. Indicated to improve attention function in children with ADHD, EndeavorRx is built on the Akili Selective Stimulus Management Engine (SSME™) core technology, a proprietary technology designed to target key attentional control systems in the brain. Delivered through an action video game experience, SSME presents specific sensory stimuli and simultaneous motor challenges designed to target and activate the neural systems that play a key role in attention function while using adaptive algorithms to personalize treatment for each individual patient.