TryCycle Data Systems Inc.

TryCycle Data Systems Inc. is dedicated to delivering digital health solutions that effectively address mental health and substance use disorders, creating accessible care pathways for at-risk populations. Founded in 2016 in Ottawa, Canada, TryCycle Data Systems Inc. focuses on developing digital health solutions for mental health and substance use disorders.

The company was co-founded by John Macbeth and Kenneth House. Recently, in October 2019, TryCycle raised USD 0. 15 mn in a funding round led by Connecticut Innovations, marking its first significant venture investment and bringing its total funding to USD 0. 15 mn.

TryCycle Data Systems specializes in digital health solutions aimed at addressing mental health and substance use disorders. The company's core offerings include innovative programs and software designed to enhance access to care, foster human connections, and support the recovery journey of individuals facing behavioral health challenges. The solutions developed by TryCycle are co-created with insights from Veterans, Indigenous communities, and healthcare professionals, ensuring cultural responsiveness and accessibility. By leveraging technology, TryCycle seeks to alleviate pressure on the healthcare system, providing timely support to at-risk individuals.

The company's products are primarily utilized in North America, with a focus on communities in Canada and the United States, particularly among Veterans and Indigenous populations. TryCycle Data Systems operates under a subscription-based revenue model, providing healthcare providers and community organizations with access to their digital health solutions. Revenue is generated through direct partnerships with healthcare entities, which integrate TryCycle's offerings into their care programs. The company also engages in B2B transactions, collaborating with clinicians to enhance their service delivery through innovative software tools.

While specific pricing structures for their solutions are not disclosed, the typical transaction involves healthcare organizations subscribing to a service plan that enables them to access and utilize TryCycle's technology for their client base, thereby improving care delivery and patient engagement. The focus remains on creating sustainable revenue streams while driving meaningful health outcomes for vulnerable populations. TryCycle Data Systems plans to utilize the USD 0. 15 mn raised in October 2019 to further develop its digital health solutions and expand its market reach.

Upcoming product launches include enhancements to their existing software aimed at improving user experience and engagement. The company is looking to expand into new markets in Canada and the United States, specifically targeting underserved communities by 2022. These initiatives are geared towards enhancing access to mental health care and addressing the needs of vulnerable populations.