Daybreak Health, a digital mental health company focusing on children and teenagers in school environments, has successfully raised $13 million in Series B funding. The funding round was led by Union Square Ventures and contributed to their total funding of $25 million. Existing investors such as Maven Ventures, Lightspeed Venture Partners, and Y Combinator participated, along with Lux Capital as a new investor.
Daybreak Health collaborates with schools and districts to offer an online teletherapy platform, connecting young individuals with counsellors through live video sessions and a mobile app. Their approach centers on providing tailored mental health support while ensuring access to culturally sensitive care. With this latest funding infusion, the San Francisco-based company aims to expand its teletherapy services, scale its platform, and broaden its presence nationally by partnering with additional school districts beyond its current network of over 60.
Deena Shakir, General Partner at Lux Capital, highlighted the significance of addressing mental health challenges in adolescence, noting that Daybreak's collaborations with health plans can enhance the accessibility and affordability of mental health programs for students from various socioeconomic backgrounds.
The Centers for Disease Control and Prevention recently released a report revealing the increasing prevalence of mental health issues among youth, including violence, suicidal thoughts, and other related concerns. Daybreak's initiatives align with the growing need for accessible and effective mental health support for young individuals.
Another player in the field is Uwill, a Boston-based college mental health startup, which secured $30 million in Series A funding. Uwill partners with colleges to provide students on-demand access to licensed therapists and crisis counselling services. Additionally, they offer online wellness events through a dedicated mental health and wellness app.
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