Lowenstein Sandler represented Reach Capital, a leading investor in education, in a $7 million fund raise in Clayful, a platform addressing the growing pediatric mental health crisis by offering text-based coaching for students to support their mental wellness.
Other Clayful investors include the Google for Startups Latino Founders Fund, Ovo Fund, Common Sense Ventures, Charter School Growth Fund, and Wisdom Ventures. The funding will go toward hiring and continuing to expand into more states and school districts.
The startup partners with K-12 schools and school districts to provide students with access to human coaches within 60 seconds. Its multilingual, chat-based, on-demand approach also addresses the school counselor shortage, because nationwide there is only one school counselor for every 408 students.
Reach Capital is an early-stage venture capital firm focused on education and workforce development. Its investments expand access to education and economic opportunities and inspire people to reach their full potential. As one of the most diverse firms in venture capital with more than 20 years of classroom teaching experience across the team, Reach Capital has backed over 130 education companies, including many of the biggest and most beloved brands across early childhood, K-12, higher education, and lifelong learning.