Accelerace invests in Parazute, a digital parachute to prevent hospitalizations for people with mental illnesses

Accelerace invests in Parazute, a mental health app that utilizes AI to identify adverse changes in people with a mental illness and alert relevant caregivers, relatives, and social networks to prevent free-falling into hospitalization, self-damage, or suicide.

Using AI and social networks to prevent mental free falling 

To suffer from a mental illness feels like falling into a hole of loneliness. Yet it is far more common than many of us think. It is estimated that 970 million people worldwide suffer from mental illnesses such as depression, anxiety, or bipolar disorder. 25% are hospitalized and 50% of these are hospitalized multiple times. Rates of mental health disorders and suicide-related outcomes have increased significantly among adolescents and young adults. Today, suicide is the second leading cause of death among 15-29-year-olds.

When a person with a mental illness is in a mental free fall, reaching out to one’s social network can feel like climbing an unclimbable mountain. At the same time, this person’s relatives are constantly on their toes and desperate to help. This is the problem that Parazute is aiming to prevent.

By developing an algorithm that identifies adverse changes in people’s mental status, the Parazute app automatically alerts and deploys support from their social network to prevent hospitalizations, self-harm, and, ultimately, suicide:

“The idea behind Parazute is simply that the social network is the largest untapped resource in mental healthcare. Relatives are desperate to help before it is too late. At the same time, the mentally challenged person finds it difficult to ask for help before it is too late. This is why Parazute automatically deploys help when needed. With Parazute, relatives can stay calm while their mentally challenged loved ones get peace of mind.”

Claus Møldrup, Co-founder and CEO at Parazute

Parazute’s mission is to prevent 1 000 000 hospitalizations, 100 000 self-damages, and 10 000 suicides.

Founded by digital health and IT experts

The two founders of Parazute are experienced serial entrepreneurs in digital health. Claus Møldrup, who holds a Ph.D. in social pharmacy and spent 5+ years in executive management and commercial roles at AbbVie, founded the e-health company DrugStars in 2016, which was acquired by odagroup. Robin Bellini Olsson was the DrugStars’ CTO — together, they are now taking the startup ride once again.

The Parazute app is developed in collaboration with SIND, the Danish Association for Mental Health.

[Photographer: Martin Søby]