February 8, 2023 – San Francisco, CA – ShareWell, the first peer support mental health platform, today announced a $1.3 million pre-seed funding round and a major milestone: over 10,000 support groups have been joined by members since launch.
The platform connects people over shared life experiences and mental health challenges through a digital peer support marketplace.
Peer Support Backed by Science
Peer support is a science-backed approach that can increase self-worth, boost hopefulness, and reduce re-hospitalization. The COVID-19 pandemic worsened an already critical mental health crisis, leading to a 25% increase in depression and anxiety nationwide. At the same time, 77% of Americans live in counties with a mental health care gap.
ShareWell offers an affordable, accessible, and effective solution for live human support.
Pre-Seed Funding and Notable Investors
The $1.3 million pre-seed round attracted high-profile investors, including:
- Adrian Aoun, CEO & Co-Founder of Forward
- Kyle Vogt, Co-founder of Twitch and CEO & Co-founder of Cruise
- Russell Simmons, former CTO & Co-founder of Yelp
- Margo Georgiadis, former CEO of Ancestry.com
- Charlie Cheever, former CTO & Co-founder of Quora
- Rob Hayes, first investor in Uber
- Quiet Capital
CEO Statement
CeCe Cheng, Founder & CEO of ShareWell, says:
“We are thrilled to be supported by investors and entrepreneurs with deep experience building industry-leading companies. As the first digital peer support mental health solution, we aim to revolutionize care by using technology to deliver safe and effective support to anyone in need. This funding allows us to expand our offerings and move closer to our vision.”
Affordable Peer Support Membership
ShareWell offers a subscription membership that grants unlimited access to live online peer support groups for $90 annually. Members can join or host groups on topics ranging from mental health challenges to major life transitions.
Hosts receive additional benefits, including:
- Host Training Program
- Access to a private host community
- Ongoing facilitation tools and education
Cheng adds:
“The average therapy session in the U.S. costs $100-$150 per hour, which is out of reach for most people. ShareWell membership costs less than one therapy session, and 90% of our members report feeling happier immediately after a group. Effective mental health care can be affordable and accessible.”
About ShareWell
Founded in October 2021 by CeCe Cheng, a former venture capitalist, startup executive, and executive coach, ShareWell is the first peer support platform offering an affordable alternative to teletherapy. The platform connects people for mutual support and healing in a safe, virtual environment.
ShareWell’s vision is to create a world where everyone has access to support when they need it. To learn more, visit www.sharewellnow.com
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