CORI Innovation Fund makes Opportunity Zone investment in Voi, Inc.

Press Release

Contact: Aidan Calvelli, 802-436-4100, aidan.calvelli@ruralinnovation.us

For Immediate Release

February 27, 2020

CORI Innovation Fund makes Opportunity Zone investment in Voi, Inc.

Voi has also received an SBIR Phase II contract from the U.S. Air Force

Springfield, VT — The CORI Innovation Fund (CIF) today 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 CIF, 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 Black River Innovation Campus in Springfield, VT, which is designated as an Opportunity Zone.

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 today 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. 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.” 

About Voi

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, as well as those who care for them. Our vision is to transform behavioral healthcare so those who are impacted have access to the continuum of care and connections they need to navigate their future successfully. Voi’s mission is to deliver the most comprehensive, innovative solutions to help hospitals and health systems, government agencies, educational institutions, families, and communities detect, intervene, support, and care for people at risk for suicide and living with behavioral health issues. Learn more at www.voi.com.

About the CORI Innovation Fund

The CORI Innovation Fund invests in growth businesses located in qualified Opportunity Zones in the United States to enhance economic growth and job creation in small communities. The Fund seeks to find attractive technology-enabled operating businesses in rural geographies, which are under-served by traditional venture capital institutions. The CORI Innovation Fund identifies, funds, and supports the best tech entrepreneurs American small towns have to offer.  www.corifund.com

About the Center on Rural Innovation and the Rural Innovation Initiative

The Center on Rural Innovation (CORI) is a nonprofit action tank that is sparking the revival of small towns across America by helping them build rural innovation hubs. CORI launched the Black River Innovation Campus in Springfield, VT; developed and regularly updates the Rural Opportunity Map that provides the unique Rural Opportunity Mapping tool for identifying areas of opportunity in rural America; and launched the Rural Innovation Initiative (RII), which works to bridge the opportunity gap in rural America by helping communities build the capacity to create resilient, innovation-based jobs. RII communities receive intensive technical assistance as they execute an innovation hub strategy: an economic development model that works to educate and train local residents in digital skills, employ them in new economy jobs, and empower them to launch startups that will drive their digital economy. Learn more at www.ruralinnovation.us.

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