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. The round was led by Addition and had . Comparatively, just 24% of people who receive care through traditional health plans demonstrate reliable clinical improvement. from 8 AM - 9 PM ET. Theres also the question of what might be lost if the majority of mental health visits shift online. Developer of a digital health platform designed to transform mental health care through technology along with the human touch. But it was the Covid-19 pandemic and collective psychological fallout that finally mainstreamed mental health. Lyras approach to mental health care has been proven to help members improve or recover faster and reduce medical claims costs for employers.For more information, visit lyrahealth.com and follow us on LinkedIn, Facebook, and Twitter. 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. LYRA HEALTH Revenue, Growth & Competitor Profile - IncFact.com 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. Twill provides digital therapeutics and care delivery models focused on mental and physical health. 508 904 9446 Lyra Health, a provider of mental health benefits for employees, has raised $200 million in the latest funding round, bringing its total valuation to $4.6 billion. 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. Venture Funding For Mental Health Startups Hits Record High As - Forbes Lyra Health | LinkedIn This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Lyra Health - Crunchbase Company Profile & Funding 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. 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. For more information about Lyra Healths innovative mental health benefits for employers, visit lyrahealth.com. and other contracted partners to be your Lyra Care Navigator Team and deliver clinical services. The biggest hurdle isn't treatmentit's access. 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. Sisco is currently co-president and chief financial officer at Workday. The latest fundraising was led by investor hedge fund Coatue Management, with participation from new investor Sands Capital. 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. 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. Any such forward-looking statements represent managements estimates as of the date of this press release. This Series E round pushes the company to $475.1 million in total funding for a post money valuation of over $2 billion. There were 124 deals last year, compared to 69 deals in 2016. Legal Name Lyra Health, Inc. Hub Tags Unicorn. our sites and services. The LianBio team has deep expertise in drug development and is well positioned to successfully commercialize LYR-210 in these Asian territories. Emerson Collective and Salesforce Ventures are the most recent investors. 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. Press | Lyra Health Tyler Gagnon, CanaleComm 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. The World Health Organization estimates that the loss in productivity due to depression and anxiety alone costs the global economy $1 trillion each year. Solutions. 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. according to the National Alliance on Mental Illness. The employee data is based on information from people who have self-reported their past or current employments at Lyra Health. The data presented on this page does not represent the view of Lyra Health and its employees or that of Zippia. The platform offers scientifically-backed tools and training for healthier, happier, more human organizations. When typing in this field, a list of search results will appear and be automatically updated as you type. Lyra Health completes $187M Series E round and expands - MobiHealthNews Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. Sisco is currently co-president and chief financial officer at Workday. 914-204-6412 Company Type For Profit. LYR-210 is an investigational product candidate that utilizes Lyras proprietary XTreo platform to enable six months of local anti-inflammatory therapy from a single treatment for chronic rhinosinusitis (CRS). These and other important factors discussed under the caption Risk Factors in the companys Annual Report on Form 10-Q filed with the SEC on May 11, 2021 and its other filings with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Seed: Venrock: Seed: Providence Health & Services: Series A: Origin Capital Management . 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. This is the only company I've ever worked with, where we don't have to do marketing, says Kocher. That speaks to how hard access has been for most people for most of their life.. 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. . Lyra Health Completes $200M Funding Round | Lyra Health Dragoneer led the round and was joined by new investor Salesforce Ventures along with existing investor Coatue. site you are consenting to these choices. Join us for Breakthrough, Lyras annual mental health conference, in San Francisco. Competitors of Lyra Health include Spring Health, Twill, Strove, Valera Health, Alma, Brightline, Sanarai, TaskHuman, moka.care, Panda and 21 more. The company has between 500 and 1000 employees and is backed by 20 investors. Lyra Health's announcement confirms an earlier report by The Information. Dragoneer has a history of partnering with management teams growing exceptional companies characterized by sustainable differentiation and superior economic models. 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. 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. 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. 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. The company operates a business-to-business (Headspace for Work) to offer its mindfulness products and services to sectors such as government entities, nongovernmental organizations, and National Health Service (NHS) to offer digital mental health tools. "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. 2023 Lyra Health, Inc. works in partnership with Lyra Clinical Associates P.C. The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution. For more information, visit lyrahealth.com and follow us on LinkedIn, Facebook, and Twitter. 10 Fundings. Transforming Access to Mental Health Care Around the WorldNearly 1 billion people worldwide suffer from a mental health disorder, yet more than 70% of people don't have access to the care they need. Lyra helps companies improve access to effective, high-quality mental health care for their employees. Dragoneer has a history of partnering with management teams growing exceptional companies characterized by sustainable differentiation and superior economic models. In 2020, peer-reviewed Lyra research demonstrated the effectiveness of the Blended Care treatment program for clients with depression and anxiety. This financing will enable Lyra to further expand its investments in pioneering tech-enabled mental health care, a growing and diverse provider network, and new partnerships to support the world's largest global organizations. Resources. Lyra Health is getting attention because of its . The funding surge feels very fad-like right now, which concerns me, as do the ballooning valuations. In the LANTERN Phase 2 clinical trial, LYR-210 (7500mcg) demonstrated rapid, clinically meaningful and durable symptom improvement in symptom scores over six months. Lyra customers include Genentech, a member of the Roche Group; Morgan Stanley; Zoom Video Communications; and dozens of the world's largest, most respected brands. 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. Worldwide, 970 million people are living with mental health issues. 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.. 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. Win whats next. These investors may include private investors, venture capital firms, or other investment vehicles. "Lyra is dedicated to redefining access to high-quality mental healthcare for both individuals and employers on a global scale," said Sisco. After extensive research and analysis, Zippia's data science team found the following key financial metrics. Calm provides a relaxation and self-improvement service accessible through its website and mobile application. Lyra Health has 36 investors including Castlight Health, Providence, Castlight Health and Venrock Associates. Lyra Company Profile: Valuation & Investors | PitchBook 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. It was founded in 2012 and is based in New York, New York. Lyra Therapeutics, Inc. (Name of Registrant as Specified in its Charter) . This new funding will help Lyra deliver comprehensive and culturally responsive mental health care for organizations and their employees and families," said Ebersman. With Lyra, benefits leaders can offer employees fast, reliable access to providers who practice evidence-based mental health care treatments. All rights reserved. Lyras XTreo platform is comprised of a biocompatible mesh scaffold, an engineered elastomeric matrix and a versatile polymer-drug complex. ", "We are excited to welcome Robynne to our Board of Directors," said David Ebersman, Lyra Health CEO and co-founder. Lyra quickly connects members to an exclusive network of evidence-based providers, mental health coaches, digital wellness tools, and personalized medication programs. 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. Lyra and San Francisco-based Modern Health can only be accessed through an employer arrangement, while New York-based Talkspace and Mountain View, Calif.-based BetterHelp have websites where anyone can fill out a questionnaire and schedule an appointment. Chris Metinko. It covers mental well-being needs through both evidence-based technology and professional support from a coach or therapist. Lyra Blended Care is scalable and extensible, leveraging technology to deliver better care quality and clinical outcomes, while reducing the cost of care. 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. and other contracted partners to be your Lyra Care Navigator Team and deliver clinical services. 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. 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. Lyra Health has 22 investors. 646-655-8390 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. 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. Their latest acquisition was ICAS World on January 19, 2022. BURLINGAME, Calif, Jan. 28, 2021 /PRNewswire/ -- Lyra Health, the leading provider of comprehensive mental health care benefits for employers, today announced a Series E . Number of Investors 4. "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. 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. 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. Lyras 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. Lyra General Information. Sign up for a free trial to see revenue data from 2020 and more. Lyra Health Completes $235M Funding Round, led by Dragoneer, to Fuel 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. In 2015, Ebersman cofounded Lyra Health with two Venrock partners and Castlight investors, Bob Kocher and Bryan Roberts, as well as Dena Bravata, Castlight's chief medical officer. Around one in four Americans dont have access to in-network therapists, according to the National Alliance on Mental Illness. Media Contact: Lyra Health - Overview, News & Competitors | ZoomInfo.com 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.Dragoneer led the round and was joined by new investor Salesforce Ventures along with existing investor Coatue. 2023 PitchBook. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. Lyra Health. 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. Lyra Health now worth $2.3B on heels of . Lyra Health - Products, Competitors, Financials, Employees Funding. Through the partnership, Lyra is making it easier for employers to offer a wide range of mental health tools from a single platform. 2023 Lyra Health, Inc. works in partnership with Lyra Clinical Associates P.C. Leading self-insured employers partner with Lyra to tailor value-driven mental health benefits programs specific to their workforce. Get the full list, Youre viewing 5 of 10 board members. Lyra Health Revenue: Annual, Quarterly, and Historic - Zippia PitchBooks non-financial metrics help you gauge a companys traction and growth using web presence and social reach. "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. In 2016, more than half of the counties in the U.S. didnt have a single psychiatrist. BURLINGAME, Calif. , Jan. 19, 2022. 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. Headspace develops an online membership platform offering guided meditation and mindfulness. Lyra is trusted by leading companies, including Genentech, a member of the Roche Group; Uber; and VCA Animal Hospitals. Additionally, 40% of workers feel employers don't support their mental health. 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. Get the full list, Youre viewing 5 of 35 investors. 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 Health Completes $235M Funding Round, led by Dragoneer, to Fuel Lyra Health's latest post-money valuation is from January 2022. 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.". 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.. Get the full list, To view Lyras complete acquisitions history, request access, To view Lyras complete subsidiaries history, request access, Morningstar Institutional Equity Research. Lyra Health Stock Price, Funding, Valuation, Revenue & Financial Statements 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.