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Leveraging the Power of Follow-On Funding

After JumpStart NJ members invest in a company, the relationship can continue with additional, or follow-on, funding. That has been the case with NeuroFlow, a digital health company combining workflow automation, patient engagement solutions and services, and applied AI to promote behavioral health integration in all-care settings.

NeuroFlow first applied to JumpStart NJ in 2017, when it was first funded by JumpStart NJ members. The company’s CEO, Christopher Molaro, is a West Point graduate who served in the U.S. Army for five years, including a tour in Iraq as a platoon leader. After returning home, Molaro experienced firsthand the gaps in the behavioral health system and how veterans and civilians alike face too many barriers when it comes to receiving appropriate, timely care, according to NeuroFlow’s website.

While pursuing his MBA at Wharton, Molaro met his future co-founder Adam Pardes, the duo created NeuroFlow, with the goal of ensuring no no patient who needs behavioral health support falls through the cracks.

NeuroFlow announced in July that it acquired the parent company of BHL and BHL Touch. The tuck-in acquisition gives NeuroFlow direct access to the VA, rare engineering talent and expertise, and long-term, recurring, and profitable contracts. “NeuroFlow is now embedded in 140+ VA hospitals nationally having assessed over 1 million veterans in the last year and has enormous growth potential from here using this as a platform for expansion within the Veteran Affairs Health Agency (VHA) as well as several other leading health systems,” according to the company.

JumpStart NJ does not disclose details about members’ investments, but several JumpStart NJ members have invested in NeuroFlow over multiple rounds of funding, resulting in a positive return.

Separately, a more recent deal closed in August 2023, with JumpStart NJ members investing in GiftCrowd. The company, based in Tenafly, N.J., is an online one-stop shop for gifting by groups. GiftCrowd's platform lets every user create a gift and invite others to join. Gift recipients choose their gift from more than 400 brands. "It yields 3x participation rate at 90% less effort and guarantees the gift recipient satisfaction," according to the company.

Learn more about our investment criteria.


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