Uwill, a mental health platform for college students, has raised $30m in a Series A funding round led by Education Growth Partners. Uwill partners with colleges to offer virtual access to licensed therapists and crisis counselling. The funds will be used to scale the platform and grow the company. The demand for mental health services among students has increased significantly, with over 60% meeting the criteria for one or more mental health problems in 2020 and 2021. Uwill has built relationships with over 150 colleges and competes with Mantra Health.
Uwill, a mental health platform for colleges and students, completed a $30 million Series A funding round led by Education Growth Partners.
WHAT IT DOES
The company partners with colleges to offer students on-demand virtual access to licensed therapists and providers trained in crisis counseling. Students can also attend online wellness events through the company’s mental health-and-wellness app.
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The Series A funds will be used to scale the company’s growth and platform.
“We have been particularly impressed by the company’s ability to work collaboratively with college leaders and existing mental health support to fill unmet needs on campus. Uwill’s solution offers high value to colleges and, most importantly, to students at a time when mental health is of paramount importance,” Andy Kaplan, managing general partner at EGP, said in a statement.
“The astounding impact and growth that Uwill has achieved in a short period of time cannot be overstated.”
MARKET SNAPSHOT
A recent survey found that more than 60% of students met the criteria for one or more mental health problems in 2020 and 2021, a nearly 50% increase from 2013.
In 2020, Uwill garnered a $3.25 million investment led by rapper Darryl McDaniels of Run-DMC. A year later it completed its angel funding round of $5.2 million. The company says it has since built relationships with more than 150 colleges.
Another company providing higher education institutions and students with mental health services is Mantra Health, which announced a $5 million raise in March.
Source: MobihealthNews
