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Cartwheel

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uuid000085q

Namestring
Cartwheel
Legal namestring
Cartwheel Care Inc.
Company typeenum
Private
Founded yearint
2022
Descriptiontext

Cartwheel is a Cambridge, Massachusetts-based telehealth company that delivers evidence-based mental health care to K-12 students via partnerships with public school districts. Founded in 2022 and operating as Cartwheel Care Inc., the company serves 350 school districts across 15 states and self-describes as America's largest K-12 mental health telehealth provider. By early 2026, Cartwheel reported nearly 300% year-over-year growth in school partnerships.

The company's core offering is a video-based telehealth platform that connects students referred by school counselors with licensed therapists, child psychiatrists, and care coordinators. Care is delivered using evidence-based modalities including Cognitive Behavioral Therapy (CBT), Dialectical Behavior Therapy (DBT), Eye Movement Desensitization and Reprocessing (EMDR), Acceptance and Commitment Therapy (ACT), and Motivational Interviewing. Cartwheel integrates with schools' Multi-Tiered Systems of Support (MTSS) to identify and treat students early, with over 40% of its clinical team being bilingual and bicultural. The company advertises a 24-hour turnaround between school referral and first Care Coordinator conversation and a 7-day average to first clinician appointment, with reported outcomes of 62% reduction in student absences, 58% anxiety remission, and 92% of students reporting improvement. Clinical services are delivered through affiliated professional corporations including Cartwheel Health Services P.C. and Cartwheel Health Services New Jersey P.C.

Cartwheel monetizes through a hybrid revenue model: (1) insurance reimbursement as an in-network provider with private insurers; (2) Medicaid coverage and zero-out-of-pocket subsidized care for uninsured families; (3) direct contracts with school districts and government health departments; and (4) grants from insurers and public health entities, including a $586,000 contract from Maricopa County Department of Public Health funded by Juul Labs settlement money and a $200,000 grant from Blue Cross and Blue Shield of Illinois. The company has raised approximately $55 million across a $20 million Series A (September 2023, led by Menlo Ventures) and a $35 million Series B (February 2026, led by A-Street Ventures with continued participation from Menlo Ventures). Named school district customers include Boston Public Schools, Brookline Public Schools, Chelsea Public Schools, Bristol-Warren Regional School District, Albany City School District, Schenectady City School District, Peoria Public Schools, Downingtown Area School District, and over 20 others visible on the company website. Leadership includes CEO and co-founder Joe English, COO and co-founder Daniel Tartakovsky, and Chief Medical Officer Juliana Chen. In January 2026, Cartwheel signed a letter of intent to license ClearSight Therapeutics' over-the-counter pink eye treatment for a planned 2027 launch, signaling portfolio expansion beyond core mental health services.

Short descriptiontext

Cartwheel is a Cambridge-based telehealth provider delivering evidence-based mental health care to K-12 students through partnerships with school districts, serving 350 districts across 15 states as America's largest K-12 mental health telehealth provider.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
251–500
akta.pro rankint
HeadquartersCambridge, United States
HQ citystring
Cambridge
HQ countrystring
United States
HQ regionstring
North America
Markets served

Serves global market

Offices1 record

Each record includes

City, Country, Type, Description, Source

Keyword5 values
K-12 mental health, school telehealth services, youth therapy programs, school-based psychiatry, student counseling services
Industry2 codes
1Alternative Student Mobility (Vans, Microtransit, Carpool Programs)
CodeEDAEADAIPrimaryYes
2PT Program Management & School District Contract Staffing
CodeEDAKAGAMPrimaryNo
NAICS code3 codes
  • Special Needs Transportation485991
  • Other Individual and Family Services624190
  • Other Support Activities for Transportation4889
Product category
K-12 Mental Health Services
Social media profiles2 records
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model4 records
1Insurance Reimbursement (In-Network)
TypeSubscription Recurring
Description

Cartwheel operates as an in-network provider with private insurance, billing insurers for telehealth mental health services delivered to students. Families with private insurance access Cartwheel as an in-network benefit with no out-of-pocket costs beyond standard co-pays.

bcbsil.com
2Medicaid/Government Insurance
TypeSubscription Recurring
Description

Uninsured families and families with Medicaid have zero out-of-pocket costs. The company covers these populations, likely through Medicaid reimbursement or subsidized care arrangements with school districts.

cartwheel.org
3Government Grants and Contracts
TypeManaged Services
Description

Cartwheel receives grants from government health departments, including $586,000 from Maricopa County Department of Public Health (Juul Labs settlement funding) and $200,000 from Blue Cross and Blue Shield of Illinois for school-based mental health services.

maricopa.gov
4School District Partnerships
TypeManaged Services
Description

Services funded through partnerships with school districts, who contract with Cartwheel to provide mental health care as part of their support systems for students.

bcbsil.com
Marketing channels4 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels3 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components4 values
Personnel, Operations, Technology or R&D, Marketing or Sales
Pricing details3 tiers
1Insurance-Based Access (In-Network)
ModelSubscriptionBilling cadencePay-as-you-go
Notes

In-network provider with private insurance; families access as in-network benefit with no disclosed out-of-pocket costs beyond standard co-pays

cartwheel.org
2Zero-Cost Care for Uninsured/Medicaid
ModelSubscriptionBilling cadencePay-as-you-go
Notes

Zero out-of-pocket costs for uninsured families and families with Medicaid coverage; subsidized through grants and contracts

cartwheel.org
3School-Funded Mental Health Services
ModelSubscriptionBilling cadenceAnnual
Notes

Services funded through school district contracts and grants (e.g., $200,000 BCBS Illinois grant); students begin treatment within 24 hours of referral

bcbsil.com
GTM typeB2B
B2B
Offering typeServices
Services
Core offering1 text field

Cartwheel is a telehealth mental health provider delivering evidence-based therapy, psychiatric care, and care coordination to K-12 students through partnerships with school districts. Services include individual therapy, group therapy, medication management, parent coaching, crisis intervention, and a dedicated School Avoidance Program, delivered virtually with a 24-hour intake turnaround and an average 7-day first appointment. The company integrates with school Multi-Tiered Systems of Support (MTSS) to coordinate care between school counselors, families, and licensed clinicians.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 of 6 values shown
  • 62% reduction in student absences
+5 more records
Product and service1 record
1Clinical Services
CategoryK-12 Mental Health Services
Scale indicator10 records

Each record includes

Type, Value, Description, Source

Partnership3 partners
Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2026-04-01
Description

County health department contracted with Cartwheel to launch a countywide school-based initiative targeting 50,000 students in its first year. Program provides evidence-based therapy, family support, parent coaching, and psychiatric services through K-12 schools in medically underserved areas. MCDPH awarded approximately $586,000 in Juul Labs settlement funding under initial contract running through 2026-2027 school year.

Strategic tierMinorTypeOEM/ Whitelabel/ Licensing PartnerAnnounced on2026-01-27
Description

Cartwheel signed letter of intent to license ClearSight Therapeutics' over-the-counter pink eye treatment derived from crab shells, planned for market launch by 2027. This represents a portfolio expansion into accessible health products beyond core mental health services.

Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2025-12-12
Description

Partnership with Cartwheel, The Brookline Center for Community Mental Health, and other organizations to provide multilingual, immediate mental health services across 82 schools. Initiative addresses mental health needs affecting student attendance, behavior, and academic performance.

Recent move6 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight6 records

Each record includes

Type, Description

Peers10 records
TypeDirect peer
Description

Hazel Health is a direct competitor providing K-12 telehealth mental health services to school districts nationwide, with the same school-embedded distribution model and focus on eliminating student waitlists.

TypeDirect peer
Description

Daybreak Health delivers online mental health therapy specifically for teens and adolescents, including school district partnerships, making it a direct K-12 telehealth peer.

TypeDirect peer
Description

Mantra Health is a K-12 and college mental health telehealth provider offering therapy and psychiatry to school and university partners, directly comparable to Cartwheel's school-embedded model.

TypeBroad incumbent
Description

Lyra Health is a large employer-focused mental health benefits platform that has expanded into K-12 partnerships, offering therapy and coaching at broader scale than Cartwheel but with a less school-embedded delivery model.

TypeBroad incumbent
Description

Spring Health provides employer- and health-plan-sponsored mental health benefits with employer and educational partnerships, overlapping with Cartwheel's evidence-based therapy positioning at a larger scale.

TypeEmerging player
Description

Brightside Health is a telehealth mental health provider focused on anxiety and depression with measurable outcomes, sharing Cartwheel's emphasis on clinical results but serving adults more than K-12.

TypeBroad incumbent
Description

Talkspace is a public online therapy platform with broad consumer and B2B reach that has expanded into adolescent and school-channel offerings, making it a broader incumbent competitor.

TypeBroad incumbent
Description

BetterHelp is the largest consumer online therapy platform, providing a broad incumbent benchmark for telehealth therapy delivery though it serves a general (not school-embedded) population.

TypeEmerging player
Description

Joon Care is an emerging telehealth platform focused on pediatric and adolescent mental health with school district partnerships, making it an early-stage direct comparable in the K-12 niche.

TypeBroad incumbent
Description

Headspace Health combines the Headspace meditation app with Ginger's on-demand coaching and therapy, serving employer and health plan populations and increasingly exploring youth and educational channels.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat5 records

Each record includes

Type, Details

Key highlights7 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Named customers10 records

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment3 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile3 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
Yes
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Feature4 records

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles3 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds3 records

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors13 records

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Cartwheel

K-12 Mental Health Servicescartwheelcare.org

Cartwheel is a Cambridge-based telehealth provider delivering evidence-based mental health care to K-12 students through partnerships with school districts, serving 350 districts across 15 states as America's largest K-12 mental health telehealth provider.

What Cartwheel does

Cartwheel is a Cambridge, Massachusetts-based telehealth company that delivers evidence-based mental health care to K-12 students via partnerships with public school districts. Founded in 2022 and operating as Cartwheel Care Inc., the company serves 350 school districts across 15 states and self-describes as America's largest K-12 mental health telehealth provider. By early 2026, Cartwheel reported nearly 300% year-over-year growth in school partnerships.

The company's core offering is a video-based telehealth platform that connects students referred by school counselors with licensed therapists, child psychiatrists, and care coordinators. Care is delivered using evidence-based modalities including Cognitive Behavioral Therapy (CBT), Dialectical Behavior Therapy (DBT), Eye Movement Desensitization and Reprocessing (EMDR), Acceptance and Commitment Therapy (ACT), and Motivational Interviewing. Cartwheel integrates with schools' Multi-Tiered Systems of Support (MTSS) to identify and treat students early, with over 40% of its clinical team being bilingual and bicultural. The company advertises a 24-hour turnaround between school referral and first Care Coordinator conversation and a 7-day average to first clinician appointment, with reported outcomes of 62% reduction in student absences, 58% anxiety remission, and 92% of students reporting improvement. Clinical services are delivered through affiliated professional corporations including Cartwheel Health Services P.C. and Cartwheel Health Services New Jersey P.C.

Cartwheel monetizes through a hybrid revenue model: (1) insurance reimbursement as an in-network provider with private insurers; (2) Medicaid coverage and zero-out-of-pocket subsidized care for uninsured families; (3) direct contracts with school districts and government health departments; and (4) grants from insurers and public health entities, including a $586,000 contract from Maricopa County Department of Public Health funded by Juul Labs settlement money and a $200,000 grant from Blue Cross and Blue Shield of Illinois. The company has raised approximately $55 million across a $20 million Series A (September 2023, led by Menlo Ventures) and a $35 million Series B (February 2026, led by A-Street Ventures with continued participation from Menlo Ventures). Named school district customers include Boston Public Schools, Brookline Public Schools, Chelsea Public Schools, Bristol-Warren Regional School District, Albany City School District, Schenectady City School District, Peoria Public Schools, Downingtown Area School District, and over 20 others visible on the company website. Leadership includes CEO and co-founder Joe English, COO and co-founder Daniel Tartakovsky, and Chief Medical Officer Juliana Chen. In January 2026, Cartwheel signed a letter of intent to license ClearSight Therapeutics' over-the-counter pink eye treatment for a planned 2027 launch, signaling portfolio expansion beyond core mental health services.

Cartwheel firmographics

Firmographics
Name
Cartwheel
Legal name
Cartwheel Care Inc.
Website
https://cartwheelcare.org
Company type
Private
Founded year
2022
Operating status
Operating
Headcount range
251–500 employees
Short description
Cartwheel is a Cambridge-based telehealth provider delivering evidence-based mental health care to K-12 students through partnerships with school districts, serving 350 districts across 15 states as America's largest K-12 mental health telehealth provider.
Ownership category
akta.pro rank

Cartwheel industry classification

Industry
Product category
K-12 Mental Health Services
NAICS
Special Needs Transportation (485991), Other Individual and Family Services (624190), Other Support Activities for Transportation (4889)
akta.pro primary industry
Alternative Student Mobility (Vans, Microtransit, Carpool Programs) (EDAEADAI)
akta.pro secondary industry
PT Program Management & School District Contract Staffing (EDAKAGAM)

Keywords

  • K-12 mental health
  • School telehealth services
  • Youth therapy programs
  • School-based psychiatry
  • Student counseling services

Where Cartwheel is headquartered

Location

Headquarters

HQ city
Cambridge
HQ country
United States
HQ region
North America

Offices1 record

Markets served

Cartwheel business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

  1. Insurance Reimbursement (In-Network): Cartwheel operates as an in-network provider with private insurance, billing insurers for telehealth mental health services delivered to students. Families with private insurance access Cartwheel as an in-network benefit with no out-of-pocket costs beyond standard co-pays.
  2. Medicaid/Government Insurance: Uninsured families and families with Medicaid have zero out-of-pocket costs. The company covers these populations, likely through Medicaid reimbursement or subsidized care arrangements with school districts.
  3. Government Grants and Contracts: Cartwheel receives grants from government health departments, including $586,000 from Maricopa County Department of Public Health (Juul Labs settlement funding) and $200,000 from Blue Cross and Blue Shield of Illinois for school-based mental health services.
  4. School District Partnerships: Services funded through partnerships with school districts, who contract with Cartwheel to provide mental health care as part of their support systems for students.

Pricing tiers

ModelBillingPrice
SubscriptionPay-as-you-goInsurance-Based Access (In-Network)
SubscriptionPay-as-you-goZero-Cost Care for Uninsured/Medicaid
SubscriptionAnnualSchool-Funded Mental Health Services

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Cartwheel product offering

Product offering

Core offering

Cartwheel is a telehealth mental health provider delivering evidence-based therapy, psychiatric care, and care coordination to K-12 students through partnerships with school districts. Services include individual therapy, group therapy, medication management, parent coaching, crisis intervention, and a dedicated School Avoidance Program, delivered virtually with a 24-hour intake turnaround and an average 7-day first appointment. The company integrates with school Multi-Tiered Systems of Support (MTSS) to coordinate care between school counselors, families, and licensed clinicians.

Differentiator

Problem solved

Functional benefit

Products and services

  • Clinical Services

Quantifiable outcome

  • 62% reduction in student absences
  • +5 more outcomes

Companies that use Cartwheel

Customer profile

Named customers10 records

Segments3 records

Ideal customer profiles3 records

Cartwheel technology and API

Technology

Technology focussed Yes

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Feature4 records

Cartwheel partnerships and signals

Strategic signal

Partnerships

Three partnerships are on record, tiered core and minor.

  • Maricopa County Department of Public HealthcoreStrategic or Co-development Partner · 1 April 2026County health department contracted with Cartwheel to launch a countywide school-based initiative targeting 50,000 students in its first year. Program provides evidence-based therapy, family support, parent coaching, and psychiatric services through K-12 schools in medically underserved areas. MCDPH awarded approximately $586,000 in Juul Labs settlement funding under initial contract running through 2026-2027 school year.
  • ClearSight TherapeuticsminorOEM/ Whitelabel/ Licensing Partner · 27 January 2026Cartwheel signed letter of intent to license ClearSight Therapeutics' over-the-counter pink eye treatment derived from crab shells, planned for market launch by 2027. This represents a portfolio expansion into accessible health products beyond core mental health services.
  • Boston Public SchoolscoreStrategic or Co-development Partner · 12 December 2025Partnership with Cartwheel, The Brookline Center for Community Mental Health, and other organizations to provide multilingual, immediate mental health services across 82 schools. Initiative addresses mental health needs affecting student attendance, behavior, and academic performance.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Cartwheel competitors and assessment

Company assessment

Direct peers

  • Hazel Health: Hazel Health is a direct competitor providing K-12 telehealth mental health services to school districts nationwide, with the same school-embedded distribution model and focus on eliminating student waitlists.
  • Daybreak Health: Daybreak Health delivers online mental health therapy specifically for teens and adolescents, including school district partnerships, making it a direct K-12 telehealth peer.
  • Mantra Health: Mantra Health is a K-12 and college mental health telehealth provider offering therapy and psychiatry to school and university partners, directly comparable to Cartwheel's school-embedded model.

Broad incumbents

  • Lyra Health: Lyra Health is a large employer-focused mental health benefits platform that has expanded into K-12 partnerships, offering therapy and coaching at broader scale than Cartwheel but with a less school-embedded delivery model.
  • Spring Health: Spring Health provides employer- and health-plan-sponsored mental health benefits with employer and educational partnerships, overlapping with Cartwheel's evidence-based therapy positioning at a larger scale.
  • Talkspace: Talkspace is a public online therapy platform with broad consumer and B2B reach that has expanded into adolescent and school-channel offerings, making it a broader incumbent competitor.
  • BetterHelp: BetterHelp is the largest consumer online therapy platform, providing a broad incumbent benchmark for telehealth therapy delivery though it serves a general (not school-embedded) population.
  • Headspace Health (Ginger): Headspace Health combines the Headspace meditation app with Ginger's on-demand coaching and therapy, serving employer and health plan populations and increasingly exploring youth and educational channels.

Emerging players

  • Brightside Health: Brightside Health is a telehealth mental health provider focused on anxiety and depression with measurable outcomes, sharing Cartwheel's emphasis on clinical results but serving adults more than K-12.
  • Joon Care: Joon Care is an emerging telehealth platform focused on pediatric and adolescent mental health with school district partnerships, making it an early-stage direct comparable in the K-12 niche.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key highlights7 records

Customer concentration

Cartwheel social profiles

Digital presence

Cartwheel financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Cartwheel leadership team

Management profile

Number of profiles

Profiles3 records

Cartwheel funding detail

Funding detail

Funding overview

Funding rounds3 records

Investors13 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Cartwheel M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cartwheel

What does Cartwheel do?

Cartwheel is a telehealth mental health provider delivering evidence-based therapy, psychiatric care, and care coordination to K-12 students through partnerships with school districts. Services include individual therapy, group therapy, medication management, parent coaching, crisis intervention, and a dedicated School Avoidance Program, delivered virtually with a 24-hour intake turnaround and an average 7-day first appointment. The company integrates with school Multi-Tiered Systems of Support (MTSS) to coordinate care between school counselors, families, and licensed clinicians.

Is Cartwheel a public or private company?

Cartwheel is a private company. It is classified as venture growth investor backed and is currently operating.

When was Cartwheel founded?

Cartwheel was founded in 2022. It employs 251 to 500 people.

Where is Cartwheel based?

Cartwheel is headquartered in Cambridge, United States, in the North America region.

How does Cartwheel make money?

Four revenue lines are on record. Insurance Reimbursement (In-Network) is the primary driver. The others are medicaid/Government Insurance, government Grants and Contracts and school District Partnerships.

Who are Cartwheel's main competitors?

Direct peers on record are Hazel Health, Daybreak Health and Mantra Health. Broad incumbents are Lyra Health, Spring Health, Talkspace, BetterHelp and Headspace Health (Ginger). Emerging players are Brightside Health and Joon Care.

Does Cartwheel have an API?

No public API is recorded for Cartwheel.

What industry is Cartwheel in?

Cartwheel's product category is K-12 Mental Health Services. Its primary akta.pro industry code is EDAEADAI, Alternative Student Mobility (Vans, Microtransit, Carpool Programs), with a secondary code of EDAKAGAM, PT Program Management & School District Contract Staffing. Its NAICS code is 485991.

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Live signals
PR NewswireCartwheel Care Collaborates with Anthem to Expand Telehealth Mental Health Services to 12,500 K-12 Students Across IndianaCartwheel Care announced an expansion to 12,500 K-12 students in Indiana, supported by a $250,000 grant from Anthem. The grant will strengthen care coordination and remove access barriers like waitlists and rural gaps. Cartwheel partners with five Indiana districts and nearly 400 districts across 16 states.PR NewswireCartwheel Launches Specialized Screens & Social Media Program for Students Struggling With Digital StressCartwheel launched its Screens & Social Media Program, a clinical offering for K-12 students and families addressing digital stress. The program includes assessments, therapy, and optional psychiatric support, and aligns with a Meta settlement worth up to $17.1 billion. Cartwheel partners with nearly 400 districts across 16 states.KtarFree counseling services for Maricopa County studentsThe Maricopa County Department of Public Health is partnering with mental health organization Cartwheel to provide free counseling services to students in underserved communities in metro Phoenix. The program, funded by a $586,000 settlement from Juul Labs, aims to reach 50,000 students by the end of the year, starting over the summer.Pulse 2.0Cartwheel: K-12 School Telehealth Mental Health Provider Closes Series B After 300% GrowthCartwheel, a K-12 telehealth mental health provider, announced it has become America's largest K-12 mental health provider after nearly 300% year-over-year growth, expanding to 350 school districts across 15 states, and closed a Series B financing round led by A-Street. The funding round included new investors Citi Impact Fund, Britebound, and American Heart Association, alongside existing backers Menlo Ventures, General Catalyst, Reach Capital, and Able Partners. The company cited clinical outcomes including 58% full remission from anxiety versus a 33% industry average and a threefold reduction in moderate-to-severe depression, attributing results to its school-embedded collaborative operating model.PR NewswireCartwheel Becomes Nation's Largest School Telehealth Provider Following Exceptional Growth and Major New InvestmentCartwheel, a K-12 mental health telehealth platform, announced it has become America's largest K-12 mental health provider after nearly 300% year-over-year growth, now serving 350 school districts across 15 states. The company secured a significant Series B financing led by A-Street, with participation from Citi Impact Fund, Britebound, American Heart Association, and existing investors including Menlo Ventures, General Catalyst, Reach Capital, and Able Partners. Cartwheel also published outcomes data demonstrating measurable impact, including 62% reduction in student absences and 58% of students achieving full remission from anxiety.D MagazineCartwheel and ClearSight Therapeutics Launch Crab Shell-Derived Pink Eye TreatmentRetail healthcare firm Cartwheel has signed a letter of intent to license ClearSight Therapeutics' over-the-counter pink eye treatment derived from crab shells, with plans for market launch by 2027. The novel antimicrobial treatment addresses viral conjunctivitis (which causes 80% of pink eye cases) and can reportedly reduce recovery time from 7-10 days to one day by leveraging an FDA GRAS designation that accelerates time-to-market compared to traditional pharmaceutical development.BcbsilBlue Cross and Blue Shield of Illinois Funds School-based Mental Health ServicesBlue Cross and Blue Shield of Illinois has provided a $200,000 grant to Cartwheel Care, a virtual mental health care provider, to fund school-based mental health services including therapy and psychiatric care for students across several Illinois school districts without waitlists. The initiative addresses a significant rise in pediatric mental health issues in Illinois, which worsened during the COVID-19 pandemic, with up to 40% of young people experiencing major depressive episodes reportedly not receiving care. Services are delivered by Illinois-licensed clinicians via telehealth, with students typically beginning treatment within 24 hours of referral.Business InsiderThese are the 13 mental health startups that could IPO, make acquisitions, or get bought this year, according to analystsAnalysts have identified 13 mental health startups as candidates for IPO, acquisition, or being acquired in the coming year, spanning companies like Lyra Health ($5.58B valuation) and Spring Health ($2.5B valuation) as top IPO prospects, to smaller pediatric-focused players like UWill, Joon, and Cartwheel as attractive M&A targets. The analysis highlights sector dynamics including digital therapeutics struggling with provider adoption and insurance reimbursement, while employer-focused mental health startups with sticky recurring revenue models present acquisition opportunities for larger players like Headspace or potential buyers like pharmacy giants Walgreens and CVS Health. Analysts note that valuation resets and consolidation are increasingly likely as startups face pressure from market downturns and the end of growth-at-all-costs funding.Pulse 2.0Cartwheel: $20 Million Raised To Help Schools Address Student Mental HealthCartwheel, a platform providing telehealth services for student mental health, has raised $20 million in Series A funding led by Menlo Ventures, with participation from Reach Capital and others. The funding will allow Cartwheel to expand its mental health services to more students in additional states, addressing the rising mental health crisis among youth. Cartwheel aims to improve access and quality of mental health care through school partnerships, offering timely interventions for students.citybizCartwheel Raises $20M in Series ACartwheel, a Cambridge-based mental health platform for schools, secured $20 million in Series A funding led by Menlo Ventures. The company plans to utilize this capital to expand its telehealth services to hundreds of thousands of students across existing and new school districts. Currently operating in 50 school districts, Cartwheel provides evidence-based clinical support including therapy and medication management.