CORI Innovation Fund makes Opportunity Zone investment in Voi, Inc. in Springfield, VT
Friday, March 6, 2020
Posted by: Jeff Couture
The Center on Rural (CORI) Innovation Fund announced an investment in Voi, Inc, a leader in the use of AI-driven digital technology to provide behavioral healthcare solutions with a focus on detection of and care for those at risk of suicide. This is the second investment made by the CORI Innovation Fund, a qualified Opportunity Zone fund which invests in high-growth technology companies supporting job creation and revenue generation in small towns across America.
Voi will relocate to the Opportunity Zone in Springfield, VT, from Hanover, NH, and will be based at the Black River Innovation Campus, home to Springfield’s burgeoning digital economy ecosystem. Voi will be able to leverage BRIC’s 10-gigabit Internet connection and wide array of technology and entrepreneurial supports.
Voi is a behavioral healthcare technology company delivering empirically-validated solutions that address the needs of those at risk for suicide and other behavioral health issues. Voi’s current product offerings include Voi Detect, an easy and efficient solution for the identification of near-term suicide risk using an AI-driven digital interface, and Voi Reach, a mobile application providing support for at-risk individuals through engaging a network of family, friends and therapists in a simple and intuitive digital environment. Voi currently sells its products to hospitals, correctional facilities, government agencies and the military.
In 2019, Voi received a Phase I Small Business Innovation Research (SBIR) contract from the U.S. Air Force to assess the feasibility of deploying Voi Detect. Voi announced that the U.S. Air Force granted Voi a SBIR Phase II contract to provide funding for a pilot of the Voi Detect platform across several active and National Guard units over the course of this year; two of the National Guard units are based in Vermont. The company is eager to offer its technology and solutions to help improve mental health outcomes in the U.S. military and beyond.
“We are excited to partner with the CORI Innovation Fund to expand the distribution of Voi Detect and to enhance the capabilities of Voi Reach,” says Bill Hudenko, Ph.D., CEO of Voi. “Our empirically-validated solutions can positively impact the mental health of soldiers, patients, students and others across the country, and we are very grateful to have additional capital to extend our capabilities.”
“Voi’s mission of helping to detect, support, and care for people at risk for suicide and living with behavioral health issues is vital,” says Jay Bockhaus, Managing Partner of the CORI Innovation Fund. “We are delighted to provide capital for Voi to continue its great work preventing suicide, an issue that deeply affects rural communities, and to welcome them to the Black River Innovation Campus as a home to build their business.”
“We are thrilled that Voi is locating in Springfield, offering positive proof that BRIC and Springfield are powerful places to do business and make a national impact.” said Trevor Barlow, Executive Director of the Black River Innovation Campus. “We look forward to supporting Voi’s continued growth as they leverage BRIC’s infrastructure and ecosystem to strengthen their business and deliver real results for people facing mental health issues here in Vermont and across the country.”
Learn more about Voi at www.voi.com.
Learn more about the CORI Innovation Fund at www.corifund.com
Learn more about about the Center on Rural Innovation and the Rural Innovation Initiative
Source: CORI Innovation Fund