Total amount raised
$24.9 Millions
Latest funding date
08/01/2023
Location
Daybreak Health has successfully raised multiple funding rounds, with the latest being a Series B round closed on August 8, 2023. The company specializes in providing online counseling services, particularly for teens, to help stabilize their mental fitness.
With 14 investors backing the company, including SignalRank and Union Square Ventures, Daybreak Health continues to expand its reach and impact. Keep reading to explore the intricacies of Daybreak Health's fundraising journey and the investors supporting this innovative platform.
What Is Daybreak Health?
Daybreak Health, founded on January 1, 2019, is headquartered in San Francisco, California. The company specializes in providing online counseling services, particularly for teens, to help stabilize their mental fitness. It operates in the health care, mental health, mobile apps, personal health, and therapeutics industries.
With a team of 101-250 employees, Daybreak Health was founded by Alex Alvarado, Luke Mercado, and Siddarth Cidambi. The company uses a mobile app to connect teens to specialized therapists and offers various teletherapy programs, mental health classes, and onsite mental health services.
How Much Funding Has Daybreak Health Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: May 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the initial foundation and develop the core platform for online counseling services.
- Seed Round
- Amount Raised: $125K
- Date: August 2020
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and begin initial market penetration.
- Seed Round
- Amount Raised: $1.8M
- Date: February 2021
- Lead Investors: Maven Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the service offerings.
- Series A
- Amount Raised: $10M
- Date: March 2022
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase partnerships with school districts.
- Series B
- Amount Raised: $13M
- Date: August 2023
- Lead Investors: Union Square Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel national expansion and partner with more school districts.
Total Amount Raised: $24.925M. Current Valuation: Not publicly disclosed.
Key Investors
- Union Square Ventures
- Details: Union Square Ventures is a venture capital firm known for investing in internet services that create large networks. They have a strong focus on companies that leverage existing infrastructure to create impactful solutions.
- Investment Focus Areas: Internet services, large networks, platforms.
- Notable Investments: Twitter, Etsy, Duolingo.
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise and Consumer sectors. They invest in early-stage companies across various sectors.
- Investment Focus Areas: Enterprise technology, consumer, health sectors.
- Notable Investments: Snapchat, Nest, GrubHub.
- Maven Ventures
- Details: Maven Ventures is a seed-stage venture capital firm that invests in software startups with hyper-growth potential. They focus on consumer software and services that have the potential for significant social impact.
- Investment Focus Areas: Software startups, hyper-growth potential, consumer software.
- Notable Investments: Cruise Automation, Chariot, Zoom.
- Y Combinator
- Details: Y Combinator is a startup accelerator that provides seed funding for startups across various sectors. They are known for their extensive network and support for early-stage companies.
- Investment Focus Areas: Seed funding, various sectors, early-stage startups.
- Notable Investments: Airbnb, Dropbox, Stripe.
- Lux Capital
- Details: Lux Capital invests in emerging science and technology ventures, including sectors like healthcare, energy, and advanced materials. They focus on companies that address significant societal challenges.
- Investment Focus Areas: Healthcare, technology, energy, advanced materials.
- Notable Investments: Auris Health, Zoox, Kallyope.
What's Next for Daybreak Health?
Daybreak Health is poised for significant growth as it expands its reach to more school districts across the United States. With the recent $13 million Series B funding, the company plans to enhance its teletherapy services and develop new care programs, particularly targeting underserved populations such as BIPOC, LGBTQ+, and low-income students. This expansion into new states like North Carolina and Utah presents a substantial opportunity to serve over 1 million students, addressing a critical public health crisis.
Future fundraising opportunities appear promising, given the strong investor interest and the increasing demand for youth mental health services. The involvement of high-profile investors like Union Square Ventures and Lux Capital suggests that additional funding rounds could be on the horizon to support further expansion and technological advancements. However, Daybreak Health will need to navigate challenges such as state licensing requirements, maintaining service quality, and ensuring equitable access to mental health care for all students.
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