22 Shares. Legal Name Lyra Health, Inc. Hub Tags Unicorn. The only thing that is under-treated in American healthcare is mental health care, says Kocher, adding that historically mental health businesses havent been profitable. Lyra Health's latest post-money valuation is from January 2022. Lyra@argopartners.com BURLINGAME, Calif., June 14, 2021 /PRNewswire/ --Lyra Health, the leading provider of comprehensive mental health care benefits for employers, today announced it has completed a $200M financing. Lyra Health's latest post-money valuation is from January 2022. Dragoneer led the round and was joined by new investor Salesforce Ventures along with existing investor Coatue. LianBio collaborates with world-class partners across a diverse array of therapeutic and geographic areas to build out a pipeline based on disease relevance and the ability to impact patients with transformative mechanisms and precision-based therapeutics. Argot Partners Investors Security Type; CASTLIGHT HEALTH, INC. In 2020, the company introduced Lyra Blended Care, which pairs video therapy sessions with personalized digital lessons and exercises based on Cognitive Behavioral Therapy (CBT) principles. Some of these valuations are beyond appropriate given the underlying fundamentals, Suennen says. For more information, visit lyrahealth.com and follow us onLinkedIn, Facebook, and Twitter. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. Coatue led the round and was joined by new investor Sands Capital, along with existing investors. 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. Theres no slowdown in sight, with funding in the first quarter of 2021 topping $795 million as startups continue to jockey for post-pandemic market dominance. Lyra Health peak revenue was $9.3M in 2022. There are now seven mental health unicorns in the U.S., up from two a year ago, buoyed by the flurry of digital health IPOs, SPAC deals and M&A activity. Lyra Therapeutics, Inc. is a clinical-stage therapeutics company leveraging its proprietary XTreo platform to enable precise, sustained, local delivery of medications to diseased tissues not accessible with conventional therapeutic approaches. The firm's track record includes public and private investments across industries and geographies, with a particular focus on technology-enabled businesses. Lyra separately announced today it has acquired ICAS World, an employee assistance program provider with operations in more than 155 countries. Sign up for a free trial to see Lyra Health's valuations in January 2022, January 2021, August 2020 and more. Lyra Health's latest funding round was a Series G for $235M on January 19, 2022. according to the National Alliance on Mental Illness. In April, KKR acquired a majority interest in the mental health electronic records software company Therapy Brands for an undisclosed amount. More than 83% of U.S. employees are experiencing mental health issues, according to research Lyra Health conducted in 2020 in partnership with the National Alliance of Healthcare Purchaser Coalitions. Emerson Collective and Salesforce Ventures are the most recent investors. By year-end, venture investors poured a record-setting $1.5 billion into mental health-related startups. While Lyra has grown steadily since its founding in 2015, 2020 was quite the breakout year for Lyra, which more than doubled its customer base to over 2 million members and raised about $185 million across two different funding rounds.That funding helped push Lyra's total valuation above $1 billion, making it one of a very few unicorns in the behavioral health spaces. Through the partnership, Lyra is making it easier for employers to offer a wide range of mental health tools from a single platform. Get the full list, To view Lyras complete patent history, request access, Youre viewing 5 of 16 executive team members. Lyra Health has raised a total of $910.1M in funding over 8 rounds. Lyra currently serves more than 2.2 million members globally. 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. You can read more about your. 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. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, Lyra Health Study Finds Managers Struggling to Handle Employee Mental Health Concerns. Chris Metinko. Existing partners also participated in the funding round. Lyra's innovative Blended Care Therapy pairs video counseling sessions, one-to-one messaging, and digital activities prescribed by the provider to support individuals in their everyday lives. With Lyra, benefits leaders can offer employees fast, reliable access to providers who practice evidence-based mental health care treatments. Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. Crazy indeed. And that's not unique to mental health, thats digital health across the board right now.. Based on Cognitive Behavioral Therapy principles, this immersive treatment model with ongoing support between sessions helps individuals improve faster. Copyright 2023 CB Information Services, Inc. All rights reserved. If you or someone you know is thinking about suicide, please call the National Suicide Prevention Lifeline at 800-273-TALK (8255) or text the Crisis Text Line at 741-741. 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. Sign up for a free trial to see revenue data from 2020 and more. Addition led the round and was joined by new investors Durable Capital Partners LP, Fidelity Management & Research Company, and Baillie Gifford, along with other existing investors. You can't just put a tool in an inequitable system and expect it to solve all of those inequities, says Nicole Martinez-Martin, an assistant professor at the Stanford Center for Biomedical Ethics who studies mental health apps. In 2016, more than half of the counties in the U.S. didnt have a single psychiatrist. When typing in this field, a list of search results will appear and be automatically updated as you type. We heard from HR and benefits leaders, benefits consultants, and Lyra experts on top-of-mind issues for mental health in the workplace. Lyra Health's annual revenues are $100-$500 million, 5416 Management, Scientific & Technical Consulting Services. Her deep expertise in finance and operations at leading global organizations will be significant assets for Lyra as we work together to provide a single source for effective mental health care for the worlds greatest companies., Transforming Access to Mental Health Care Around the World. Resources. 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 . To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Developer of a digital health platform designed to transform mental health care through technology along with the human touch. The firms track record includes public and private investments across industries and geographies, with a particular focus on technology-enabled businesses. 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 Therapeutics: Investor Contact: Argot Partners 212-600-1902 Lyra@argopartners.com Media Contact: Kathryn Morris 914-204-6412 kathryn@theyatesnetwork.com LianBio Investor Contact: Elizabeth . Investor Contact: 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 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. Contact:Dyani Vanderhorst[emailprotected]m (650) 240-3240, Cision Distribution 888-776-0942 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. It uses an assessment and machine-learning technology to understand all of the conditions of person may be experiencing and uses those results to match them to a care plan personalized to their needs. For more information, visit lyrahealth.com and follow us on LinkedIn, Facebook, and Twitter. Top investors are Durable Capital Partners, Fidelity Management & Research, and Baillie Gifford. 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. Lyra quickly connects members to an exclusive network of evidence-based providers, mental health coaches, digital wellness tools, and personalized medication programs. Dr. . . The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. LianBio Elizabeth Anderson, VP Communications and Investor Relations Partnership opens expanded opportunity for LYR-210 to address chronic rhinosinusitis, a disease affecting approximately 88 million adults in China. Number of Investors 4. BURLINGAME, Calif. , Jan. 19, 2022. 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. 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 Health is getting attention because of its . In January, Talkspace announced plans to go public in a SPAC deal valuing the company at $1.4 billion; the deal is expected to close later this year. Dragoneer has a history of partnering with management teams growing exceptional companies characterized by sustainable differentiation and superior economic models. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Lyra Health has raised around $910 million in funding over 8 rounds from investors like Salesforce Ventures, Coatue, and Emerson Collective. Leading self-insured employers partner with Lyra to tailor value-driven mental health benefits programs specific to their workforce. Pricing. Lyra separately announced today new plans to enhance its international solutions. Comparatively, just 24% of people who receive care through traditional health plans demonstrate reliable clinical improvement. Investors Dragoneer . The funding surge feels very fad-like right now, which concerns me, as do the ballooning valuations. Start Free Trial . The company, which now has an enterprise division that sells to businesses, claims to help users reduce stress and sleep better. Find related and similar companies as well as employees by title and much more. Around one in four Americans dont have access to in-network therapists, according to the National Alliance on Mental Illness. Products. The Week's 10 Biggest Funding Rounds: Lyra Health Gets Large Raise To Boost Mental Health, Clari Sees $225M To Manage Revenue. Investor Name . Lyra Health has 750 employees, and the revenue per employee ratio is $12,400. January 19, 2022 08:00 AM EDT, BURLINGAME, Calif. Lyra Health, the leading provider of innovative Workforce Mental Health solutions for employers, today announced it has completed a $235M financing. The additional funds bring its total amount raised to more than $480 million and the company valuation to approximately $2.3 billion, according to a Lyra spokesperson. Leading self-insured employers partner with Lyra to tailor value-driven mental health benefits programs specific to their workforce. You're more than your latest funding, tell our customers your company's story. Tyler Gagnon, CanaleComm Note: Lyra Health's revenues are gauged from an analysis of company filings. 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. Nearly 1 billion people worldwide suffer from a mental health disorder, yet more than 70% of people dont have access to the care they need. . Fidelity Management and Research Company Durable Capital Partners Baillie Gifford With an estimated 88 million adult CRS patients in China alone, we believe LYR-210 has the potential to address a significant unmet medical need and meaningfully improve the standard of care for patients in Asia.. Lyra Health's valuation in June 2021 was $4,600M. About Dragoneer Investment GroupDragoneer is a growth-oriented investment firm with over $25 billion in long-duration capital. 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. But it was the Covid-19 pandemic and collective psychological fallout that finally mainstreamed mental health. All rights reserved. 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. (Annual sales and employees). When the pandemic hit, there was a two-week pause, says Lisa Suennen, a longtime healthcare investor who leads the venture fund at the law firm and consultancy Manatt, Phelps & Phillips. Who are Lyra Health's competitors? To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Type: Company - Private. For more information, please visit www.lianbio.com. 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 . Chrome Extension. With the new funding, Lyra plans to accelerate its delivery of evidence-based mental health benefits for companies with employees located around the world. BURLINGAME, Calif., June 14, 2021 /PRNewswire/ -- Lyra Health, the leading provider of comprehensive mental health care benefits for employers, today announced . . Given the spotty coverage, Kocher and Ebersman hypothesized that employers would be willing to pay for a separate mental health benefit, especially since depression is one of the leading causes of disability worldwide. Lyra Blended Care is scalable and extensible, leveraging technology to deliver better care quality and clinical outcomes, while reducing the cost of care. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including statements regarding the clinical development, potential commercialization and potential benefits of LYR-210 and LYR-220, and the success of the companys strategic partnership and license agreement with LianBio. It was founded in 2010 and is based in Santa Monica, California. Dragoneer has a history of partnering with management teams growing exceptional companies characterized by sustainable differentiation and superior economic models. Lyra provides evidence-based care that supports people across all facets of mental health, from wellness and preventive care to the most severe conditions. Lyra is transforming mental health care using intelligent matching technology, concierge support, and an innovative digital platform to deliver a frictionless experience for members, providers, and employers. Log In. I understand from both a business perspective and a needs perspective why [startups] are interested in mental health right now, she says, but the potential to really prey on that need, or worse, the patients, terrifies me.. Phone Number +1 877 0505 7147. Lyra helps companies improve access to effective, high-quality mental health care for their employees. 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. 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. Lyra also continues to pioneer new evidence-based, technology-enabled mental health solutions that accelerate access to care and match members to clinically proven programs that prioritize fast and durable symptom improvement. Celebrity endorsements, like Olympic swimmer Michael Phelps campaign with virtual therapy startup Talkspace, started to chip away at the long standing stigma, while mindfulness apps like Calm offered meditation sessions at the click of a button. Lyra Health's latest funding round was a Series G for $235M on January 19, 2022. For more information, please visit www.lyratherapeutics.com and follow us on LinkedIn and Twitter. Lyra Health has 22 investors. Seed: Venrock: Seed: Providence Health & Services: Series A: Origin Capital Management . Jun 14, 2021, 08:00 ET. View Lyra Health (www.lyrahealth.com) location in California, United States , revenue, industry and description. Lyra is trusted by leading companies, including Genentech, a member of the Roche Group; Uber; and VCA Animal Hospitals. 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. The company was founded in 2017 and is based in San Francisco, California. Ive known David for over 10 years, and his focus on one of the worlds most important topics, addressing and solving mental health care, is truly inspiring, said Marc Stad, Founder and Managing Partner at Dragoneer. In 2019, around 11% of U.S. adults reported experiencing symptoms of anxiety or depression, which skyrocketed to 42% by December 2020. U.S. Industry Overview & Market Statistics: INDEPENDENT SCHOOL GROUP LIFE & DISABILITY TRUST, Complete list of funding rounds and total amounts in the, EBIT (Earnings Before Interest and Taxes), Revenue from previous years (2010 to present), Funding from Venture Capital and Private Equity firms, Additional industries in which the company operates, What is the company's size? Theres also the question of what might be lost if the majority of mental health visits shift online. Headspace develops an online membership platform offering guided meditation and mindfulness. 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 . Chris Metinko. The biggest hurdle isn't treatmentit's access. In 2020, Lyra announced a partnership with Calm, the top mental fitness and resilience application, with more than 90 million downloads to date. BURLINGAME, Calif, Jan. 28, 2021 /PRNewswire/ -- Lyra Health, the leading provider of comprehensive mental health care benefits for employers, today announced a Series E . Sisco is currently co-president and chief financial officer at Workday. Lyra Health now worth $2.3B on heels of . Dragoneer has been an investor in companies such as Airbnb, Alibaba, Atlassian, AppFolio, Bytedance, Carbon Health, Ceridian, Chime, Datadog, Doordash, Duck Creek, Livongo, Maven, PointClickCare, Procore, Slack, Samsara, ServiceTitan, Snowflake, Spotify, Uber, UiPath, and others. Last August, the company cemented its . 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 Health's 2020 revenue was $100M. The companys current pipeline of therapeutics target tissues deep in the ear, nose and throat passages and are designed to deliver continuous drug therapy for months following a single non-invasive, in-office administration. 646-655-8390 The next mental health startup to reach a billion dollar valuation was Calm in 2019. 10 Fundings. By continuing to use this site you are consenting to these choices. "Lyra is dedicated to redefining access to high-quality mental healthcare for both individuals and employers on a global scale," said Sisco. Lyra Health's deal structure is available for 7 funding rounds, including their Series G from January 19, 2022. About Lyra HealthLyra Health is the leading provider of Workforce Mental Health benefits, serving 10 million global employees and their dependents. This new funding will help Lyra deliver comprehensive and culturally responsive mental health care for organizations and their employees and families, said Ebersman. There were 124 deals last year, compared to 69 deals in 2016. "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. You can't just put a tool in an inequitable system and expect it to solve all of those inequities. Dragoneer has been an investor in companies such as Airbnb, Alibaba, Atlassian, AppFolio, Bytedance, Carbon Health, Ceridian, Chime, Datadog, Doordash, Duck Creek, Livongo, Maven, PointClickCare, Procore, Slack, Samsara, ServiceTitan, Snowflake, Spotify, Uber, UiPath, and others. Sign up for a free trial to see Lyra Health's valuations in January 2022, January 2021, August 2020 and more. Lyra also today announced the addition of Robynne Sisco to its Board of Directors. Lyra Health doubles customers, expands to serve more than 2 million members. The latest fundraising was led by investor hedge fund Coatue Management, with participation from new investor Sands Capital. Lyra is trusted by leading companies, including Genentech, a member of the Roche Group; Uber; and VCA Animal Hospitals. LifeStance Health Group, an outpatient mental health provider backed by investment firm TPG Capital, announced plans this month to go public at an estimated more than $6 billion valuation. Analyst Briefing Submitters are 7x more likely to receive a qualified connection. "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. 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. Coatue led the round and was joined by new investor Sands Capital, along with existing investors. Sisco is currently co-president and chief financial officer at Workday. Calm offers a free app but also has a paid subscription offering which provides customers with access to a full library of meditation, music and sleep content. Lyra Health makes $25,479 in a day. LianBios mission is to catalyze the development and accelerate availability of paradigm-shifting medicines to patients in Greater China and other major Asian markets through partnerships that provide access to the best science-driven therapeutic discoveries. 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. Media Contact: Before the pandemic, it was already estimated that less than half of adults and children living with mental health conditions in the U.S. went without any treatment. We are reaching out to the company and investors for a . I hope that the interest in mental health is now persistent, Suennen says. I'm a senior writer covering healthcare technology. Lyra Health's most recent revenue is from 2020.
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