Goldman Sachs Alternatives Backs LearnWell to Expand School-Based Mental Health, Academic Services

Goldman Sachs Alternatives, through its Sustainable Investing business, has invested in LearnWell to help scale the company’s in-school and virtual mental-health and academic supports for K-12 students. The amount and structure of the transaction were not disclosed, and parties have not revealed whether Goldman Sachs Alternatives will take board seats or other governance rights.

The investment is framed as part of an Inclusive Growth strategy that targets the intersection of education and healthcare. Richard Waitumbi, Managing Director in Sustainable Investing at Goldman Sachs Alternatives, said, “LearnWell sits at the intersection of education and healthcare, two areas of focus for our Inclusive Growth strategy. We observe a need for interventions to address learning loss, and by reaching students in healthcare settings, LearnWell transcends barriers and offers greater access to academic and behavioral health solutions.” He added in a separate statement, “The demand for comprehensive student mental and behavioral health services has never been more urgent, and LearnWell has established itself as a vital partner to hospitals and school districts, delivering high‑quality, accessible care that significantly impacts student well‑being and academic success. We are excited to partner with the LearnWell team to accelerate growth and expand reach, ensuring more students receive the critical support they need to thrive.”

Led by Kathleen Egger, Ed.D, LearnWell delivers school-based and virtual counseling, outpatient psychotherapy, academic continuity services and customized behavioral interventions. The company reported that it has more than 250 educators on staff, serves more than 7,700 school districts, teaches over 51,000 students annually and provides more than 629,000 hours of instruction each year. Egger said the partnership will let LearnWell “enhance our service offerings and expand our footprint to serve even more students and communities across the nation. We remain steadfast in our mission to empower students to thrive academically, socially, and emotionally, and this partnership will significantly amplify our impact.”

LearnWell has expanded its telehealth capacity in recent years, including a fall 2020 acquisition of a New York counseling practice to broaden virtual therapy offerings. The company’s founding year appears in some records as 1995. Reporting also flags ownership history from 2018 involving Brook Venture Partners and other backers named Eagle Private Capital and 424 Capital, though those details are described inconsistently across accounts and merit confirmation.

For Goldman Sachs employees, the deal signals continued focus within Alternatives on scaling social-impact businesses that blend healthcare and education. Deal teams and portfolio managers should expect to track operational metrics tied to reach and outcomes as part of the Sustainable Investing mandate. For LearnWell staff and clinicians, the investment could translate into faster geographic expansion, additional hiring, and increased emphasis on telehealth infrastructure and measurable outcome data, though specifics on hiring and deployment of proceeds have not been disclosed.

Next steps will be whether LearnWell and Goldman Sachs Alternatives provide deal terms, confirm headquarters and ownership history, and share concrete KPIs for growth and clinical outcomes. The investment underscores growing institutional interest in school-based mental health solutions and sets the stage for scrutiny of how capital converts into services and workforce capacity on the ground.