Lyra Health's most recent revenue is from 2020. Coatue led the round and was joined by new investor Sands Capital, along with existing investors. With this additional capital, Lyra will have the opportunity to further distinguish itself as the leader in mental health domestically and expand internationally to address a global need.. Contact:Kaitlin Rebella[emailprotected](248) 318-4303, Cision Distribution 888-776-0942 Lyra delivers clinically proven mental health care for employees and family members across all facets of mental health, from wellness and preventive care to the most severe conditions. "I've known David for over 10 years, and his focus on one of the world's most important topics, addressing and solving mental health care, is truly inspiring," said Marc Stad, Founder and Managing Partner at Dragoneer. our sites and services. Lyra Health is funded by 35 investors. Worldwide, 970 million people are living with mental health issues. Theres also the question of what might be lost if the majority of mental health visits shift online. Kathryn Morris The mental health benefits startup scored $187 million in new financing as it looks to expand its services and bring more technology to its platform. Log In. Burlingame, California-based Lyra, valued at $2.3 billion in a January funding round, is specifically targeting large employers with customers including Morgan Stanley, eBay and Genentech. For more information, visit lyrahealth.com and follow us on LinkedIn, Facebook, and Twitter. Using matching technology and an innovative digital platform, Lyra quickly connects companies and their employees plus spouses and children to world-class therapists, mental health coaches, and personalized medication prescribing. The biggest hurdle isn't treatmentit's access. Comparatively, just 24% of people who receive care through traditional health plans demonstrate reliable clinical improvement. Lyra@argopartners.com "One in five people struggle with mental health challenges such as anxiety, depression, or substance use disorder," said David Ebersman, Lyra Health CEO and co-founder. Jessi Gold, a psychiatrist and assistant professor at Washington University in St. Louis, has been conducting virtual appointments but prefers to see patients in person. Jun 14, 2021, 08:00 ET. 2023 State of Workforce Mental Health Report, Why Culturally Responsive Care Must Be Part of Your Mental Health Benefits Strategy, Diversity, Equity, Inclusion, and Belonging, Limit the Use of My Sensitive Personal Information. For more information, visit lyrahealth.com and follow us onLinkedIn, Facebook, and Twitter. BURLINGAME, Calif., Jan. 19, 2022 /PRNewswire/ --Lyra Health, the leading provider of innovative Workforce Mental Health solutions for employers, today announced it has completed a $235M financing. Lyra Health revenue is $9.3M annually. Coatue Management, Dragoneer Investment Group, and Salesforce Ventures, Coatue Management, Institutional Venture Partners, Sands Capital, and Undisclosed Investors, Addition, Baillie Gifford & Co., Durable Capital Partners, Fidelity Investments, Institutional Venture Partners, Sands Capital, and Undisclosed Investors. Lyras curated network includes more than 5,000 coaches, therapists, and doctors in the U.S., with an additional 85,000 providers available worldwide through global partnerships. Lyra Health and commercializing the behavioral health sector - FlowBank Lyra separately announced today it has acquired ICAS World, an employee assistance program provider with operations in more than 155 countries. Lyra Health is the leading provider of Workforce Mental Health benefits, serving 10 million global employees and their dependents. In clinical studies conducted to date, LYR-210 has demonstrated six months of clinically meaningful symptom improvement following a single administration in patients with and without polyps. Low-income or rural communities without sufficient broadband access are still at a loss, and there will continue to be a nationwide shortage of providers and issues with reimbursement. Lyra Health - Products, Competitors, Financials, Employees In 2020, peer-reviewed Lyra research demonstrated the effectiveness of the Blended Care treatment program for clients with depression and anxiety. Lyra Health Completes $200M Funding Round | Lyra Health Several VC-backed companies also employ mental health coaches. These people cant diagnose or treat clinical conditions but are supposed to help users who are dealing with stressors in their jobs or relationships before they spiral. Mental health is the defining problem of our time. Many of these startups partner with research institutions to publish studies, but no one has performed a head-to-head comparison of the market. There were 124 deals last year, compared to 69 deals in 2016. 10 Fundings. With Lyra, benefits leaders can offer employees fast, reliable access to providers who practice evidence-based mental health care treatments. Lyra Health doubles customers, expands to serve more than 2 million members. Venture Funding For Mental Health Startups Hits Record High As - Forbes Fidelity Management and Research Company Durable Capital Partners Baillie Gifford Leading self-insured employers partner with Lyra to tailor value-driven mental health benefits programs specific to their workforce. Type: Company - Private. Lyra Health has raised a total of $910.1M in funding over 8 rounds. The Series F was led by Coatue and values the company at an astounding $4.6 billion. And that's not unique to mental health, thats digital health across the board right now.. Lyra Health now worth $2.3B on heels of . With the new funding, Lyra will accelerate its delivery of comprehensive, evidence-based, culturally responsive mental health care benefits for employees and their families around the world. Lyra Health takes a personalized approach to mental healthcare, ensuring that every member has access to self-help resources, coaches, and therapists, whenever they need them. kathryn@theyatesnetwork.com This is the only company I've ever worked with, where we don't have to do marketing, says Kocher. ", "We are excited to welcome Robynne to our Board of Directors," said David Ebersman, Lyra Health CEO and co-founder. While the company may elect to update such forward-looking statements at some point in the future, it disclaims any obligation to do so, even if subsequent events cause its views to change. Lyra Health Completes $200M Funding Round to Transform Mental Health The company was formerly known as Happify Health and Happify. Using matching technology and an innovative digital platform, Lyra quickly connects companies and their employees plus spouses and children to world-class therapists, mental health coaches, and personalized medication prescribing. 2023 State of Workforce Mental Health Report, Why Culturally Responsive Care Must Be Part of Your Mental Health Benefits Strategy, Diversity, Equity, Inclusion, and Belonging, Limit the Use of My Sensitive Personal Information. CBI websites generally use certain cookies to enable better interactions with. 646-655-8390 Chris Metinko. Lyra is trusted by leading companies, including Genentech, a member of the Roche Group; Uber; and VCA Animal Hospitals. But it was the Covid-19 pandemic and collective psychological fallout that finally mainstreamed mental health. One in five people struggle with mental health challenges such as anxiety, depression, or substance use disorder, said David Ebersman, Lyra Health CEO and co-founder. Intrepid investors started dabbling in mental healthcare over the past few years as part of a broader digital health funding boom, but many remained wary. Lyra's co-founder and CEO, David Ebersman, left his job as Meta's chief financial officer in 2014 to tackle the problem by making it easier to find and get treatment and . Lyra Health Completes $235M Funding Round, led by Dragoneer, to Fuel BURLINGAME, Calif, Jan. 28, 2021 /PRNewswire/ --Lyra Health, the leading provider of comprehensive mental health care benefits for employers, today announced a Series E financing round of $187 million. Lyra Therapeutics: Lyra delivers mental health for employees and family members at leading multinational companies, including eBay; Genentech, a member of the Roche Group; Uber; and VCA Animal Hospitals. Partners . Lyra Health raised $187000000 on 2021-01-28 in Series E. Search Crunchbase. (Neither company can help people who are in a life-threatening mental health crisis and instead link to resources like the National Suicide Prevention Line.) Coatue led the round and was joined by new investor Sands Capital, along with existing investors. "Delivering mental health care for diverse employee populations around the world is one of the most pressing and complex issues for employers today, and this new funding will help Lyra accelerate our plans to deliver comprehensive, global solutions.". In 2019, around 11% of U.S. adults reported experiencing symptoms of anxiety or depression, which skyrocketed to 42% by December 2020. Lyra Health has a post-money valuation in the range of $1B to $10B as of Jan 19, 2022 . Lyra separately announced today new plans to enhance its international solutions. "2020 put the need for mental health care transformation in sharp focus, as more people sought help during these extraordinary and difficult times," said David Ebersman, Lyra Health CEO and co-founder. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Providing high-quality mental health care for diverse employee populations around the world is one of the most critical and challenging issues for employers today. Lyra is trusted by leading companies, including Genentech, a member of the Roche Group; Uber; and VCA Animal Hospitals. The introduction of our novel, integrated ENT drug and delivery solution to the large patient populations in Asian markets supports our planned global commercialization strategy., CRS patients who have failed medical management are currently left with limited and invasive options to manage their disease, said Yizhe Wang, Ph.D., Chief Executive Officer of LianBio. 2015. You can access direct insights and strategies from . Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. Lyra Health is a leading provider of innovative mental health benefits for more than 2.5 million global employees and dependents and is transforming mental health care by . In her distinguished career, Sisco has held senior finance roles at VMware, VeriSign, and Oracle and she brings to Lyra more than 30 years of experience in corporate finance, accounting operations, investor relations, legal, and procurement. Lyra Health's 2020 revenue was $100M. Top investors are Durable Capital Partners, Fidelity Management & Research, and Baillie Gifford. Number of Investors 4. Spring Health was founded in 2016 and is based in New York,New York. You're more than your latest funding, tell our customers your company's story. With Lyra, benefits leaders can offer employees fast, reliable access to providers who practice evidence-based mental health care treatments. Lyra Health has 22 investors. Seed: Venrock: Seed: Providence Health & Services: Series A: Origin Capital Management . San Francisco-based 6sense closed a $200 million Series E co-led by new investors Blue Owl and MSD Partners at a $5.2 billion valuation . Media Contact: Comparatively, just 24% of people who receive care through traditional health plans demonstrate reliable clinical improvement. Investors poured $1.5 billion into the market in 2020, but technology alone won't solve long standing problems like low reimbursement rates and provider shortages. Get the full list, Youre viewing 5 of 10 board members. Existing partners also participated in the funding round. 914-204-6412 Lyra Health has raised around $910 million in funding over 8 rounds from investors like Salesforce Ventures, Coatue, and Emerson Collective. But venture capital-backed technology startups alone wont solve the complicated morass of weak insurance coverage, crazy administrative hoops for patients in distress and clinicians burned out from carrying the weight of Americas pain. Bob Kocher, a partner at Venrock, is betting on Lyra Health, the company he co-founded in 2015 alongside former Facebook CFO David Ebersman, to take off. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. She says theres a misconception that just because mental health providers dont conduct physical exams that all they need is to see a patients face on a screen in order to be effective. Lyra Health Hits $1.1 Billion Valuation, As Coronavirus Boosts - Forbes site you are consenting to these choices. Lyra Health's announcement confirms an earlier report by The Information. June 14, 2021 08:00 AM ET, BURLINGAME, Calif. Lyra Health, the leading provider of comprehensive mental health care benefits for employers, today announced it has completed a $200M financing. It also noted that Lyra Health's most recent price per share is $27.47, an up round from the Series D, which priced shares at $14.21. and our Code of Business Conduct and Ethics in the "Governance" section of the "Investors & News" page of our website located at www . In 2016, more than half of the counties in the U.S. didnt have a single psychiatrist. As part of the agreement, LianBio will also have the first right to obtain development and commercial rights in the licensed territories to Lyras LYR-220, an anti-inflammatory, intra-nasal, drug matrix in development for the treatment of CRS patients who have undergone a prior sinus surgery but continue to have persistent disease. Lyra Blended Care is scalable and extensible, leveraging technology to deliver better care quality and clinical outcomes, while reducing the cost of care. CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. From 2016 to 2018, she served as a professor at the Center for Innovation for Global Health at Stanford University. Their latest funding was raised on Jan 19, 2022 from a Series F round. With the new funding, Lyra plans to accelerate its delivery of evidence-based mental health benefits for companies with employees located around the world. In April, KKR acquired a majority interest in the mental health electronic records software company Therapy Brands for an undisclosed amount. After extensive research and analysis, Zippia's data science team found the following key financial metrics. Lyra Health's annual revenues are $100-$500 million, 5416 Management, Scientific & Technical Consulting Services. Resources. When typing in this field, a list of search results will appear and be automatically updated as you type. Lyra Health - Crunchbase Company Profile & Funding LianBio will be responsible for the clinical development and commercialization of LYR-210 in the licensed territories, and Lyra will retain all rights to LYR-210 in all other geographies. In 2020, mental health startup funding was 5.5 times the $275 million investors ponied up four years earlier, according to data from CB Insights. Lyra quickly connects members to an exclusive network of evidence-based providers, mental health coaches, digital wellness tools, and personalized medication programs. The company's platform connects members to a curated network of therapists and coaches through live video therapy, coaching and digital self-care tools, resulting in faster access to care and better outcomes than traditional plans, enabling employers to deliver care to their employees and families online with the flexibility of in-person care. Argot Partners Transforming Mental Health Care Lyra more than doubled its customer base in 2020 and extended its services to support more than 2 million members with comprehensive mental health care. Behavioral Unicorn Lyra Health Eyes More Corporate Customers, Continued 212-600-1902 Upon commercialization on a region-by-region basis, Lyra also will be entitled to receive low double-digit royalties based on net sales of LYR-210 in the licensed territories. In her distinguished career, Sisco has held senior finance roles at VMware, VeriSign, and Oracle and she brings to Lyra more than 30 years of experience in corporate finance, accounting operations, investor relations, legal, and procurement. Funding, Valuation & Revenue. Lyra hit unicorn status in 2020 in a pandemic-fueled funding round, and Modern Health, BetterUp and Ginger joined the club in 2021. Through the partnership, Lyra is making it easier for employers to offer a wide range of mental health tools from a single platform. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause the companys actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: the fact that the company has incurred significant losses since inception and expects to incur losses for the foreseeable future; the companys need for additional funding, which may not be available; the companys limited operating history; the fact that the company has no approved products; the fact that the companys product candidates are in various stages of development; the fact that the company may not be successful in its efforts to identify and successfully commercialize its product candidates; the fact that clinical trials required for the companys product candidates are expensive and time-consuming, and their outcome is uncertain; the fact that the FDA may not conclude that certain of the companys product candidates satisfy the requirements for the Section 505(b)(2) regulatory approval pathway; the companys inability to obtain required regulatory approvals; effects of recently enacted and future legislation; the possibility of system failures or security breaches; effects of significant competition; the fact that the successful commercialization of the companys product candidates will depend in part on the extent to which governmental authorities and health insurers establish coverage, adequate reimbursement levels and pricing policies; failure to achieve market acceptance; product liability lawsuits; the fact that the company relies on third parties for the manufacture of materials for its research programs, pre-clinical studies and clinical trials; the companys reliance on third parties to conduct its preclinical studies and clinical trials; the companys inability to succeed in establishing and maintaining collaborative relationships; the companys reliance on certain suppliers critical to its production; failure to obtain and maintain or adequately protect the companys intellectual property rights; failure to retain key personnel or to recruit qualified personnel; difficulties in managing the companys growth; effects of natural disasters; the fact that the global pandemic caused by COVID-19 could adversely impact the companys business and operations, including the companys clinical trials; the fact that the price of the companys common stock may be volatile and fluctuate substantially; significant costs and required management time as a result of operating as a public company and any securities class action litigation. I'm a senior writer covering healthcare technology. Headspace develops an online membership platform offering guided meditation and mindfulness. This new funding will help Lyra deliver comprehensive and culturally responsive mental health care for organizations and their employees and families," said Ebersman. Lyra Health Expert Review, Pricing, Alternatives - 2023 Lyra Health Announces Closing of $75M Series C Financing Lyra delivers mental health for employees and family members at leading multinational companies, including eBay; Genentech, a member of the Roche Group; Uber; and VCA Animal Hospitals. Personalize which data points you want to see and create visualizations instantly. Twill provides digital therapeutics and care delivery models focused on mental and physical health. Win whats next. Lyra Health Now Valued at $4.6B After Latest Fundraising The World Health Organization estimates that the loss in productivity due to depression and anxiety alone costs the global economy $1 trillion each year. Contact:Dyani Vanderhorst[emailprotected]m (650) 240-3240, Cision Distribution 888-776-0942 Lyra currently serves more than 2.2 million members globally. Lyra Health, a leading provider of innovative mental health benefits for more than 2.2 million global employees and dependents, is transforming mental health care by creating a frictionless experience for members, providers, and employers. Lyra Health now worth $2.3B on heels of massive funding round In a single month, Lyra Health normally makes close to $775,000 in revenue. The highwater mark was set pre-pandemic when the telepsychiatry and specialty pharmacy company Genoa Health sold to UnitedHealth Group for $2.5 billion in 2018. About Lyra HealthLyra Health, a leading provider of innovative mental health benefits for more than 2 million U.S. employees and dependents, is transforming mental health care by creating a frictionless experience for members, providers, and employers. Lyra Health completes $187M Series E round and expands - MobiHealthNews Resources. Lyra Health's latest post-money valuation is from January 2022. Lyra Health Revenue: Annual, Quarterly, and Historic - Zippia The firms track record includes public and private investments across industries and geographies, with a particular focus on technology-enabled businesses. Lyra's curated network includes more than 5,000 coaches, therapists, and doctors in the U.S., with an additional 85,000 providers available worldwide through global partnerships. Lyra Health acquired 1 company. Investors of Lyra Health include Coatue Management, Dragoneer Investment Group, Salesforce Ventures, Institutional Venture Partners, Sands Capital and 19 more.

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