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.
- Expanding Services: Daybreak Health is not just about teletherapy. The company also offers mental health classes for school staff and families and tools for early identification of students who might benefit from mental health support.
About Daybreak Health:
Daybreak Health partners with school districts to provide personalized mental health support, ensuring each student’s success in both school and life. As the leading school-based teletherapy provider, Daybreak’s programs are tailored to offer students high-quality, affordable, and culturally competent care, meeting their unique needs. Their evidence-based model treats students to a place of concrete improvement, leading to better academic outcomes like improved grades, higher attendance, and behavioral enhancements. For more details, visit Daybreak Health.
Source: Business Wire
SoH's Take
Congrats to Daybreak Health on their Series B funding! We like this announcement for a few reasons.
- Potential for Impact & Scalability: To date, Daybreak Health has raised $25 million, positioning itself well to scale operations and increase impact. This latest funding should further help the company’s growth plans.
- Backed by Strong Investors: Prior to this round, Daybreak Health was already backed by some great firms. Adding investors Union Square Ventures and Lux Capital should speak volumes about the company’s business model and where they are heading.
