Mantra Health bags $22M to target college students’ mental health

The news: Mental health startup Mantra Health raised $22 million in a Series A funding round to launch a mental health program for college students. Some of the funding will also go toward a scholarship for graduate students with marginalized backgrounds who are working toward a degree in a mental health field.

What it does: Mantra Health’s digital mental health treatment plans are customized to patient needs and provide virtual therapy, progress tracking, and digital tools to support lifestyle changes.

Why it’s worth watching: College students have a high prevalence of mental health conditions, but access to the right care isn’t always there, especially during this pandemic when many classes have been remote:

• 85% of college students said they were experiencing more stress and anxiety because of the pandemic in June 2020, and up to 44% of college students reported symptoms of depression or anxiety, per Mayo Clinic. However, until recently, most colleges didn’t offer a digital option for accessing university mental health services.
• Digital mental health solutions like Mantra’s could help curb the mental health crisis among students: In general, most teletherapy users have reported no commute, flexible schedules, and easy setup as top benefits of digital mental healthcare.