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$5.25 million raise valued at more than 20x revenue
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Dec 14, 2021, 09:00 ET
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NEEDHAM, Mass., Dec. 14, 2021 /PRNewswire/ — Uwill, the leading mental health and wellness solution for colleges and students, today announced that it has completed its angel funding round of $5.25 million. Despite overwhelming demand from more than 100 of the leading venture capital and private equity firms, Uwill completed its fundraising with the same founding team of high-value angel investors and employees that have supported the company from its inception. Led by veteran edtech entrepreneur and Uwill CEO Michael London, the team is made up of a who’s-who of industry giants including Bright Horizons CEO Stephen Kramer and Princeton Review and Noodle founder John Katzman.
"Uwill’s dynamic growth over the past year reflects not just the increasing demand for mental health solutions on college campuses — but also the company’s unique ability to address that need," said Michael J. Skoler, CEO of Sokolove Law and Uwill investor. "By bringing together higher education experience and sophisticated technology, Uwill is uniquely positioned to help education institutions tackle the most critical challenge facing students today."
"Given the campus mental health crisis, colleges and universities are embracing technology to increase access to counseling and therapy," said Stephen Kramer, CEO of Bright Horizons and a founding investor in Uwill. "Under the visionary leadership of Michael London and its executive team, Uwill is poised to continue its growth in 2022 and beyond as it works to address continued demand for mental health support."
Designed to complement campus counseling offerings, Uwill is making tremendous progress at a time of increasing mental health challenges at campuses nationwide, reporting 600% growth in clients and 2400% in revenue growth over the past year. Serving more than 600,000 students at institutions including University of North Carolina – Chapel Hill, Fairfield University, University of San Francisco, and the Massachusetts and Michigan state systems, Uwill’s solution facilitates immediate access to a proprietary team of available licensed counselors based on student needs and preferences.
"We’re proud to receive continued support from investors who have been with us since the beginning," said Michael London, Uwill’s founder and CEO. "Their investment will enable Uwill to fulfill the promise of therapy as a driver of student success, and help more colleges and universities provide students with counseling and support they need to persist in their education."
A Boston-based serial entrepreneur, London previously served as CEO of Examity, a 2020 Fast Company’s Most Innovative award winner, and the only organization named to both Deloitte’s Technology Fast 500 and the Boston Business Journal’s top 10 fastest-growing companies for two consecutive years. London is also the founding CEO of Bloomberg Institute, the founder of EdAssist and the co-founder of College Coach.
Founded in 2019, Uwill’s mission is to expand mental health access and services to colleges by building on technology-enabled models that have been validated in recent years. Utilizing its proprietary technology and counselor team, Uwill is the only secure student-to-therapist matching platform creating a complete wellness environment. The solution offers an immediate connection to an available licensed counselor based on student preferences, all modalities of teletherapy (video, phone, chat, and message), 24/7/365 emergency access, group sessions, live events, detailed reporting and support. Uwill is the teletherapy educational partner of NASPA and was recently named a "50 on Fire" Honoree by BostInno.
Uwill has become the leading mental health and wellness solution for colleges and students. Utilizing its proprietary technology and counselor network, Uwill’s core foundation, Umatch, offers students an immediate connection to an available therapist based on needs and preferences. Available worldwide, Uwill provides a secure environment and facilitates video, phone, chat, and message sessions. In addition, Uhelp extends campus support to include 24/7/365 emergency assistance, and Ucollaborate allows for seamless coordination of care. Uwill provides the most cost-effective way to complement a college’s mental health offering and has worked with leading institutions including the University of Maryland, Fairfield University, Stevens Institute of Technology, Boston College and Metropolitan State University – Denver. For more information, visit uwill.com.
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