Daybreak Health Secures $13 Million in Series B Funding to Amplify Youth Mental Health Services in Schools
Slice of Healthcare Team
08/08/2023
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Daybreak Health, a frontrunner in providing school-based mental health services, has successfully raised $13 million in a Series B funding round. This significant financial boost, led by Union Square Ventures and supported by new investor Lux Capital and existing investors Lightspeed Venture Partners, Maven Ventures, and Y Combinator, is set to further Daybreak Health's mission of enhancing youth mental health services.
Key Highlights
- Rising Capital: With this latest funding round, Daybreak Health's total capital raised now stands at an impressive $25 million. These funds are earmarked for expanding the company's geographical reach and forging partnerships with more top-tier school districts in the U.S.
- Addressing a Pressing Issue: U.S. Surgeon General Dr. Vivek Murthy has labeled the decline in youth mental health as the “defining public health crisis of our time.” Daybreak Health's services are particularly crucial for high-risk teens, including those identifying as BIPOC, LGBTQ+, low-income, residing in rural areas, experiencing homelessness, or hailing from immigrant households.
- Innovative Approach: Daybreak Health's unique approach involves offering personalized care to students within the school environment, ensuring they receive the support they need without any added barriers.
- Stellar Feedback: The efficacy of Daybreak Health's program is evident, with 81% of students showing symptomatic and behavioral improvements during the '22-'23 school year. Moreover, four out of five school counselors have reported noticeable improvements in student symptoms, and 92% of families have observed behavioral enhancements at home.
- Expert Opinions: Rebecca Kaden, Managing Partner at Union Square Ventures, lauded Daybreak Health's mission and vision. She emphasized the company's potential to serve as an integral part of the school's mental health infrastructure. Similarly, Deena Shakir, General Partner at Lux Capital, highlighted the pressing need for youth-focused mental health solutions.
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