With Lyra, benefits leaders can offer employees fast, reliable access to providers who practice evidence-based mental health care treatments. Note: Lyra Health's revenues are gauged from an analysis of company filings. Lyra Health Completes $187M Series E Financing to Advance Comprehensive Revenue: $100 to $500 million (USD) Competitors: Unknown. Worldwide, 970 million people are living with mental health issues. Leading self-insured employers partner with Lyra to tailor value-driven mental health benefits programs specific to their workforce. 10 Fundings. 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. Funding. You can read more about your cookie choices at our privacy policyhere. 646-655-8390 Investor Name . ", "We are excited to welcome Robynne to our Board of Directors," said David Ebersman, Lyra Health CEO and co-founder. Sign up for a free trial to see Lyra Health's valuations in January 2022, January 2021, August 2020 and more. Spring Health was founded in 2016 and is based in New York,New York. It covers mental well-being needs through both evidence-based technology and professional support from a coach or therapist. The Series F was led by Coatue and values the company at an astounding $4.6 billion. 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. 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. Lyra is now able to directly support more than 2 million members as we enable employers to offer their people easy, effective access to clinically proven mental health care. 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. Spring Health provides personalized mental healthcare for employees' well-being. Comparatively, just 24% of people who receive care through traditional health plans demonstrate reliable clinical improvement. Leading self-insured employers partner with Lyra to tailor value-driven mental health benefits programs specific to their workforce. 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. When typing in this field, a list of search results will appear and be automatically updated as you type. A peer-reviewed study found Lyras Blended Care Therapy helped 83% of participants improve or recover from anxiety or depression. Venture Funding For Mental Health Startups Hits Record High As - Forbes Press | Lyra Health 2023 PitchBook. (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.) 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. About Lyra HealthLyra Health is the leading provider of Workforce Mental Health benefits, serving 10 million global employees and their dependents. The funding surge feels very fad-like right now, which concerns me, as do the ballooning valuations. But it was the Covid-19 pandemic and collective psychological fallout that finally mainstreamed mental health. Lyras XTreo platform is comprised of a biocompatible mesh scaffold, an engineered elastomeric matrix and a versatile polymer-drug complex. Who are Lyra Health's competitors? Date Investors Percent Raised Target Size; January 28, 2021: 33: 100%: 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. As the demand for mental health care accelerates worldwide, I am honored to join them in the quest to deliver a powerful support system for companies and their employees., We are excited to welcome Robynne to our Board of Directors, said David Ebersman, Lyra Health CEO and co-founder. By year-end, venture investors poured a record-setting $1.5 billion into mental health-related startups. Lyra Health may also be known as or be related to Lyra Health, Lyra Health Inc and Lyra Health, Inc. COIT Cleaning and Restoration Services Careers, Senior Software Engineer jobs at Lyra Health, Customer Success Manager jobs at Lyra Health, Employee Relations Specialist jobs at Lyra Health. Dr. . 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. 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. 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. When typing in this field, a list of search results will appear and be automatically updated as you type. Investors of Lyra Health include Coatue Management, Dragoneer Investment Group, Salesforce Ventures, Institutional Venture Partners, Sands Capital and 19 more. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Developer of a digital health platform designed to transform mental health care through technology along with the human touch. PitchBooks comparison feature gives you a side-by-side look at key metrics for similar companies. 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. 2023 Lyra Health, Inc. works in partnership with Lyra Clinical Associates P.C. "Lyra is dedicated to redefining access to high-quality mental healthcare for both individuals and employers on a global scale," said Sisco. 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. 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. Investor Contact: 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. Lyra Health's valuation in June 2021 was $4,600M. Sign up for a free trial to see Lyra Health's valuations in January 2022, January 2021, August 2020 and more. 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. 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 next mental health startup to reach a billion dollar valuation was Calm in 2019. 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. Their latest acquisition was ICAS World on January 19, 2022. Lyra Health has kept busy over the past year. Their latest was a Series . Zippia gives an in-depth look into the details of Lyra Health, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Lyra Health. Join us for Breakthrough, Lyras annual mental health conference, in San Francisco. 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. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. Lyra Health peak revenue was $9.3M in 2022. 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. About Lyra HealthLyra 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. The publication initially broke the news back in May, according to two people familiar with the deal. 22 Shares. Dragoneer has a history of partnering with management teams growing exceptional companies characterized by sustainable differentiation and superior economic models. 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. Despite federal laws requiring mental health to be reimbursed at the same rates as physical illness, many people with insurance still face hurdles, from long wait times to denial of claims battles. 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. Lyra Health Now Valued at $4.6B After Latest Fundraising our sites and services. 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. 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. Dragoneer led the round and was joined by new investor Salesforce Ventures along with existing investor Coatue. Lyra Health's 2020 revenue was $100M. 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. Lyra's second annual Breakthrough conference was an enormous success, with over 2,000 registrants coming together to reimagine mental health. For more information, visit lyrahealth.com and follow us on LinkedIn, Facebook, and Twitter. There's a lot more to emotions and connecting with people, reading people and diagnosing people than just looking at their face, says Gold, who is also a Forbes contributor. The company was founded in 2017 and is based in San Francisco, California. 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. For more information, visit lyrahealth.com and follow us on LinkedIn, Facebook, and Twitter. In a single month, Lyra Health normally makes close to $775,000 in revenue. 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. Sign up for a free trial to see revenue data from 2020 and more. tyler.gagnon@canalecomm.com, 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., Internet Explorer presents a security risk. Behavioral Unicorn Lyra Health Eyes More Corporate Customers, Continued 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 Hits $1.1 Billion Valuation, As Coronavirus Boosts - Forbes 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.
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