See the presentation a digital-health startup used to raise $30 million to bring mental-health care to college students
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- Some startups are focused on making mental-health services more accessible to patients.
- Uwill zeroed in on ensuring college students can access those treatments.
- The company announced in May that it raised a $30 million Series A round.
Digital-health startups focused on mental health have raised billions of dollars in recent years.
While most have focused on partnering with employers to provide mental-health benefits to workers or on connecting patients directly to practitioners, one company is betting on a relatively untapped patient population.
Uwill, founded in 2020, is focused on providing virtual mental-health services to college students. Instead of working with insurers or companies, the company partners with colleges, offering them a platform that lets students connect with licensed mental-health professionals and access wellness features such as yoga and meditation.
The company has partnered with over 150 schools, including the University of Michigan, Dartmouth College, and the University of San Francisco. London told Insider that Uwill expects to bring in $15 million in revenue in 2023 and that around 75,000 students use the platform.
While there’s plenty of competition in the mental-health sector, Michael London, the founder and CEO of Uwill, told Insider that Uwill’s edge is its deep background and understanding of higher education.
“Everything we do, our counselors, our technology, it’s all student-oriented,” London said. “So if someone from some other type of healthcare comes in, they don’t really have the understanding of the customer in the way that we do.”
Before Uwill, London started companies focused on education technology, including Examity, an online-testing platform, and College Coach, which Bright Horizons Family Solutions owns today.
In May, Uwill announced it had raised a $30 million Series A round from the education-focused private-equity firm Education Growth Partners.
Uwill removed financial details from the pitch deck it used to raise its Series A round before sharing the presentation with Insider.