Daybreak Health garners $13M to scale youth mental health platform
08 Aug 2023
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Source: mobihealthnews
Photo: Franziska & Tom Werner/Getty Images
Daybreak Health, a digital mental health company for children and teens focused on schools, has raised $13 million in Series B funding led by Union Square Ventures, bringing its total raise to $25 million.
Existing investors Maven Ventures, Lightspeed Venture Partners and Y Combinator participated in the round alongside new investor Lux Capital.
WHAT THEY DO
Daybreak partners with schools and districts to provide an online teletherapy platform that connects teens to counselors through live video sessions and a mobile app. The company says it gives students personalized mental health support while providing access to high-quality and culturally competent care.
With the new funds, the San Francisco-based company will scale its platform, including its teletherapy offerings. It will also seek to expand its reach nationally, partnering with additional school districts beyond the more than 60 districts it says are currently in its network.
"Adolescence is where the foundation for one’s lifetime mental health is set, and unfortunately, adolescents are experiencing more mental health issues than ever before — yet, most existing solutions focus on treating mental health in adults," Deena Shakir, general partner at Lux Capital, said in a statement. "Daybreak’s partnerships with leading health plans across the country bolster school districts' capacity to make youth mental health programs more accessible and affordable for students and families of all socioeconomic backgrounds."
MARKET SNAPSHOT
Daybreak scored $10 million in Series A funding last year, which it relayed it would use to expand its reach and focus on improving health equity. A year prior, it received $1.8 million in seed funding.
A report released by the Centers for Disease Control and Prevention earlier this year analyzing youth risk behavior between 2011 and 2021 revealed findings of significantly worsening incidents of violence and suicidal thoughts and behaviors in youth, along with other mental health issues.
Another company looking to address the youth mental health crisis in schools is Boston-based college mental health startup Uwill, which raised $30 million in Series A funding in May.
Uwill partners with colleges to provide students with on-demand virtual access to licensed therapists and providers trained in crisis counseling. The company also offers online wellness events through its mental health-and-wellness app.
Tags: Daybreak Health, student mental health, youth mental health
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