We are in a very strong position to build on unique neuroscientific and business foundations to expand our product portfolio and better address the global brain health imperative.
SAN FRANCISCO (PRWEB) December 19, 2017
Led by Bell Potter Securities and Gleneagles Securities, MyBrainSolutions (MBS) [parent company Brain Resource Limited ], the leading provider of software-based brain assessments and brain training, recently secured $20 million in funding, with $10 million in working capital. The transaction provides significant growth capital while simplifying the capital structure and eliminating the company’s long-term debt.
“This recapitalization is extremely positive news for our customers, our investors and our employees,” said Louis Gagnon, Chief Executive Officer of Brain Resource. “We are in a very strong position to build on unique neuroscientific and business foundations to expand our product portfolio and better address the global brain health imperative.”
The investment attracted strong support from leading Australian institutional investors and was backed by commitments from U.S. Angel investors and the company’s new leadership team. “The incredible investor support in this capital raise is reflective of growing investor, consumer and health sector interest in brain and mental health,” noted Gagnon.
The funds raised will be used to expand the brain health platform to address multiple new market opportunities as well as aggressively activate and penetrate distribution channels to generate customer and market share growth.
The recapitalization has come on the heels of an expansion of the leadership team with Mr. Gagnon (TPG, Audible/Amazon, Yodle) joining in May 2017. Other seasoned digital executives who have since joined include: Matthew Mund as Chief Operating Officer (formerly Chief Product and Marketing Officer at Monster.com); Marcel Legrand as Chief Revenue Officer (formerly partner at Blackfin Capital); and Emil Vasilev as Director of Finance (formerly at Ride.com).
Added Dr. Evian Gordon, founder and chairman, “We are uniquely positioned to leverage the world’s largest standardized and integrated database on the brain, and with this funding we will restructure, rebrand and secure the necessary resources to meet our objectives as the leading provider of software-based brain assessments and brain training.”
MyBrainSolutions has already added more than 10 new corporate customers since summer and recently conducted an outside audit of customer feedback with validated support of the platform performance to date. Customer feedback on the newly-released version of the corporate product has been overwhelmingly positive. “I more than enjoyed the program. After doing the program once again since last year, I had a noticeable change in my demeanor, for the better. Not only did I notice it, but my colleagues and family noticed it as well. It really was life changing,” said an employee of one of the company’s Fortune 100 clients.
To learn more about how MyBrainSolutions can help your organization’s brain health and performance, contact sales(at)mybrainsolutions(dot)com.
Brain Resource Limited (BRC), parent to MyBrainSolutions, is a San Francisco- and Sydney-based company at the forefront of applying clinically validated brain assessment and brain training to improve behavioral health outcomes. The world’s largest standardized brain database underpins the company’s SaaS-based products which decrease stress, improve resilience and increase the productivity of individuals, while reducing healthcare costs for employers and insurers across the United States. For more information, please visit http://www.brainresource.com.
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