College mental health startup Uwill raises $30 million

Uwill, a college and student mental health platform, has closed a $30 million Series A funding round led by Education Growth Partners.

WHAT IT DOES

The company works with colleges to provide students with virtual access to licensed therapists and providers trained in crisis counseling when needed. Students can also participate in online wellness events through the company’s mental health and wellness app.

The Series A funds will be used to scale the company’s growth and platform.

“We have been particularly impressed with the company’s ability to partner with academic leaders and the existing mental health support to address unmet needs on campus. Uwill’s solution offers great value to colleges and especially students at a time when mental health is paramount,” said Andy Kaplan, managing general partner at EGP, in a statement.

“The amazing impact and growth that Uwill has achieved in such a short time cannot be overstated.”

MARKET SNAPSHOT

A recent survey found that more than 60% of students met criteria for one or more mental health problems in 2020 and 2021, an increase of almost 50% from 2013.

In 2020, Uwill a $3.25 million investment led by Run-DMC rapper Darryl McDaniels. A year later, it closed its $5.2 million Angel round of funding. The company says it has since formed relationships with more than 150 colleges.

Another company that provides mental health services to higher education institutions and students is Mantra Health, which a $5 million raise in March.