Turning Setbacks into Success, Mindr Leverages Equity Compensation to Drive Growth Amidst Funding Challenges
FOR IMMEDIATE RELEASE: DURHAM, N.C., July 18, 2024 /PRNewswire-PRWeb/ --
Mindr, an AI-driven digital platform for reducing the risk or delaying the onset of Alzheimer's disease and other dementias, has successfully pivoted after an initial capital raising effort faced significant challenges due to an unfavorable funding environment. Demonstrating resilience and determination, Mindr has recruited a dedicated team through an equity compensation bridge strategy, driving significant progress toward its mission of revolutionizing preventive cognitive health as the team prepares for beta launch and fundraising.
A Strong Start:
Mindr's 90-day proof of concept pilot program, completed in Q1 of 2023, exceeded expectations with an impressive 88% activity completion rate and significant improvements in client-reported cognitive and quality of life metrics. On the back of this success, Mindr signed up its first paying customers and presented pilot findings at the Alzheimer's Association International Conference in Amsterdam in 2023.
Strategic Pivot:
When plans to raise capital for Mindr's V1 MVP proved unsuccessful in 2023's adverse fundraising environment, the team didn't falter, it pivoted, successfully recruiting a dedicated team of developers and instructional designers willing to work for equity on a bridge basis. Over the same period, Mindr joined Startup Health and doubled its beta participant waitlist through heightened visibility and marketing partnerships. These successes underscore both the inspirational value of Mindr's mission as well as the team's resilience and commitment to revolutionizing preventive cognitive health.
Looking Ahead:
After 9 months of development, feedback, and refinement, Mindr is set to begin alpha testing its V1 MVP in August 2024, with a beta launch slated for December 2024. Product development is enhanced with the support of Teepa Snow's Positive Approach to Care, both in terms of content quality assurance as well as recruiting beta participants.
Ready for Growth:
In August of 2024, Mindr is preparing to launch a new fundraising effort to support its next phase of growth. This round will focus on hardening the platform for launch, ensuring HIPAA compliance, scaling infrastructure, launching a B2C go-to-market strategy, enabling clinical efficacy studies, and developing the V2 product, which will use V1 user data to train AI activity generators and ML personalized wellness planning.
Call to Action:
As Mindr approaches its beta release, the company invites interested individuals to sign up for the beta program and experience its innovative approach to cognitive self care firsthand. Mindr encourages anyone interested in its mission to join the beta waiting list or subscribe to the newsletter for regular updates at the bottom of this page.
About Mindr:
Mindr is a revolutionary digital platform designed to reduce the risk or delay the onset of symptoms of Alzheimer's disease and related dementias through evidence-based, multidomain lifestyle interventions. Utilizing a combination of human coaching and AI-driven technology, Mindr delivers personalized, habit-building programs that help users maintain cognitive health and independence.
Mindr: Daily care for brain health, helping you to help yourself.
Media Contact
Adam Schultz, Mindr, 1 9194518983, info@mindr.us, http://Mindr.us