73% of students experience a mental health crisis during college; 40% experience depression. Schools are not well equipped to handle the growing demand for students that are seeking counseling and treatment. The ratio of counselors to students is 1:1000-2000 for small to moderate-sized schools; 1:2000-3500 for larger universities. This lack of access is compounding the acute mental health crisis among students. Mantra Health is a digital mental healthcare clinic that works with universities and colleges to provide accessible services to their students. The telehealth platform provides 24/7 access to licensed psychiatrists and therapy providers in the Mantra network and a back-end platform that allows the university to refer and monitor their students’ cases, supported by a robust EHR system. Students can now access vetted providers in minutes rather than weeks without worrying about cost; payment is a blend of insurance and university-sponsored. Mantra is now live at 52 universities, making mental healthcare accessible to ~500K students. AlleyWatch caught up with Mantra Health Cofounder and CEO Ed Gaussen to learn more about the state of mental health care in higher education, the founding story for the company, latest round of funding, which brings the total funding raised to $29.2M, and much, much more…
Elements Health Ventures
The Weekly Notable Startup Funding Report: 1/24/22
The Weekly Notable Startup Funding Report takes us on a trip across various ecosystems in the US, highlighting some of the notable funding activity in the various markets that we track. The notable startup funding rounds for the week ending 1/22/22 featuring funding details for Curbio, The Graph, Clari, and twenty-eight other rounds that you need to know about.