A Natick-based company providing mental health services to colleges and students has raised its Series A round.
Uwill on Tuesday announced the completion of $30 million in new funding. The capital comes from Education Growth Partners, a private equity firm that provides growth capital in the education, workplace and learning sectors.
“We have been particularly impressed by the company’s ability to work collaboratively with college leaders and existing mental health support to fill unmet needs on campus. Uwill’s solution offers high value to colleges and, most importantly, to students at a time when mental health is of paramount importance,” Andy Kaplan, managing general partner at EGP, said in a statement.
The company was founded in 2020 by CEO Michael London to assist campus counseling centers as they faced growing demands for student mental health support during the pandemic. London was previously the founder and CEO of online proctoring company Examity. He attended Babson College and is a member of its board of advisors.
Uwill says its platform supports students seeking mental health services in several ways. It helps students quickly book appointments with a licensed therapist, with the ability to match based on student needs and preferences. The platform also offers a direct connection to a licensed counselor trained in crisis support available 24/7. And, the platform includes on-demand curated wellness events.
Since 2020, Uwill says it has served more than 1.5 million students worldwide. The company’s customers include public and private institutions and students in all 50 states, including Dartmouth College and University of Michigan.
“We built Uwill to provide students with immediacy, choice, and a frictionless experience to receive the mental health support they need in a way that works best for them,” London said in a statement. “We look forward to collaborating with our clients and EGP to continue to remove barriers to mental health support and help as many students as possible. EGP’s focus and expertise in education makes them an ideal partner to support Uwill’s continued success.”
The company says it has built relationships with more than 150 colleges and has achieved 9400% revenue growth since its founding. In 2021, the company raised $5.25 million in angel funding and reported 2,400% growth in revenue over the past year.
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