Photo: Halfpoint Images/Getty Images
Marble Health, a virtual mental health platform for students, has secured $15.5 million in a Series A funding round led by Costanoa.
Town Hall Ventures and Khosla Ventures participated in the round.
WHAT IT DOES
New York-based Marble Health works directly with schools to identify students in need of mental health support and connect them with licensed therapists. It also offers group therapy sessions for students.
The company's platform allows school counselors, therapists and parents to provide insights on students' mental health in real time. It also offers an AI scribe and its proprietary therapist EHR to help clinicians participate in Medicaid networks.
Marble will use the funds to expand its workforce and provide its platform in more schools across the U.S.
"Most schools want to support their students' mental health, but they're stretched thin and often can't afford to bring in help," Amy Cheetham, partner at Costanoa Ventures, said in a statement.
"What stood out about Marble is that they've built a model where schools don't have to pay a dime – and still get high-quality, timely care for their students. That kind of access shouldn't be rare, and we backed Marble because they're making it possible at scale."
MARKET SNAPSHOT
In 2023, more than 5.3 million youth, ages 12 to 17 were diagnosed with a behavioral or mental health condition, with the most common disorder being anxiety (16.1%), followed by depression (8.4%), and behavior/conduct problems being a close third (6.3%), according to a survey published by the National Institutes of Health, National Library of Medicine.
Other digital health companies offering youth mental health services include Brightline, which provides hybrid mental healthcare services for kids and teens; pediatric virtual behavioral health company Brightline; Daybreak Health, a digital mental health company for children and teens focused on schools; and Uwill, a mental health platform for colleges and students.
