MARKET UPDATE: JULY/AUGUST 2020

It’s overwhelming to understand that hundreds of millions of Americans are trying to cope with mental health and substance abuse — but many of them cannot access any care whatsoever due to the age old supply/demand imbalance. Innovation and technology have the potential to address the supply/demand gap and facilitate high quality access to care for all, and as expected, investors are continuing to bet on the massive opportunity mental health presents. However, with all of this innovation, funding, and growth, some crucial questions arise mainly directed at the subsegment of “Mental Wellness “ (which includes non-medical meditation, sleep, stress, & emotional wellbeing apps and tools). UWill has managed to secure funding from prominent people and organizations such as Darryl McDaniels of hip-hop group Run-DMC, Bright Horizons CEO Stephen Kramer, and Princeton Review founder John Katzman. We’re now significantly improving that experience, by immediately showing Snapchatters how they can get connected with emergency services, message a trained counselor through Crisis Text Line, or talk live with someone at the National Suicide Prevention Hotline.”[17] Nevertheless, it’s important to recognize social media’s detrimental effects on mental health and emotional wellbeing.