Find related and similar companies as well as employees by title and much more. Dragoneer has a history of partnering with management teams growing exceptional companies characterized by sustainable differentiation and superior economic models. WATERTOWN, Mass. Theres also concern that the hyper focus on technology and virtual care is like putting lipstick on a pig. For more information about Lyra Health's innovative mental health benefits for employers, visitlyrahealth.com. 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. 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. 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. 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. In 2019, around 11% of U.S. adults reported experiencing symptoms of anxiety or depression, which skyrocketed to 42% by December 2020. Lyra Health raised $187000000 on 2021-01-28 in Series E. Search Crunchbase. Get the full list, To view Lyras complete acquisitions history, request access, To view Lyras complete subsidiaries history, request access, Morningstar Institutional Equity Research. Industry: Health Care Services & Hospitals. 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. "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.". Lyra plans to continue expanding Blended Care to serve a wide range of members and mental health challenges. 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. Resources. For more information, visit lyrahealth.com and follow us on LinkedIn, Facebook, and Twitter. The World Health Organization estimates that the loss in productivity due to depression and anxiety alone costs the global economy $1 trillion each year. Lyra helps companies improve access to effective, high-quality mental health care for their employees. Mental health issues are much more pervasive than is commonly known, and Lyra is thoughtfully redefining access to care by providing broad-based solutions through employers. Lyra Health has raised a total of $910.1M in funding over 8 rounds. 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. Contact:Kaitlin Rebella[emailprotected] (248) 318-4303, Cision Distribution 888-776-0942 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. 914-204-6412 Through the partnership, Lyra is making it easier for employers to offer a wide range of mental health tools from a single platform. Lyra Health Completes $187M Series E Financing to Advance Comprehensive 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. 646-655-8390 Get the full list, To view Lyras complete patent history, request access, Youre viewing 5 of 16 executive team members. The Week's 10 Biggest Funding Rounds: Lyra Health Gets Large Raise To Boost Mental Health, Clari Sees $225M To Manage Revenue. Coatue led the round and was joined by new investor Sands Capital, along with existing investors. Investor Activity Lyra Health has actively raised capital from investors. The digital behavioral-health-benefits platform Lyra Health announced today the closing of its Series E funding round worth $187 million. Description. For more information, please visit www.lyratherapeutics.com and follow us on LinkedIn and Twitter. Series E - Lyra Health - 2021-01-28 - CrunchBase Analyst Briefing Submitters are 7x more likely to receive a qualified connection. When typing in this field, a list of search results will appear and be automatically updated as you type. LYR-210 is designed as a non-invasive alternative to sinus surgery for the millions of CRS patients who have failed medical management. Jun 14, 2021, 08:00 ET. Contact Email care@lyrahealth.com. And then everything went crazy.. Lyra hit unicorn status in 2020 in a pandemic-fueled funding round, and Modern Health, BetterUp and Ginger joined the club in 2021. 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. 2023 Lyra Health, Inc. works in partnership with Lyra Clinical Associates P.C. BURLINGAME, Calif., June 14, 2021 /PRNewswire/ -- Lyra Health, the leading provider of comprehensive mental health care benefits for employers, today announced . 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. You're more than your latest funding, tell our customers your company's story. 22 Shares. Lyra Health, a leading provider of innovative mental health benefits for more than 1 million U.S. employees and dependents, is transforming mental health care by creating a frictionless experience . Number of Investors 4. Lyra Health has 22 investors. BURLINGAME, Calif. , Jan. 19, 2022. Lyra Health's most recent revenue is from 2020. With Lyra, benefits leaders can offer employees fast, reliable access to providers who practice evidence-based mental health care treatments. from 8 AM - 9 PM ET. Win whats next. Lyra Health Announces Closing of $75M Series C Financing PitchBooks comparison feature gives you a side-by-side look at key metrics for similar companies. Lyra Health Hits $1.1 Billion Valuation, As Coronavirus Boosts - Forbes Lyra Therapeutics and LianBio Announce Strategic Partnership and Lyra is trusted by leading companies, including Genentech, a member of the Roche Group; Uber; and VCA Animal Hospitals. For more information, please visit www.lianbio.com. Lyra Health's revenue is $9.3 Million - Learn more about Lyra Health's revenue by exploring their annual revenue, historical revenue, quarterly revenue, and revenue per employee. For more information, visit lyrahealth.com and follow us onLinkedIn, Facebook, and Twitter. Pricing. Dragoneer is a growth-oriented investment firm with over $25 billion in long-duration capital. Lyra Health - Overview, News & Competitors | ZoomInfo.com Media Contact: With Lyra, benefits leaders can offer employees fast, reliable access to providers who practice evidence-based mental health care treatments. 2015. 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. 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. The Week's 10 Biggest Funding Rounds: Lyra Health Gets Large Raise To The company was formerly known as Happify Health and Happify. The data presented on this page does not represent the view of Lyra Health and its employees or that of Zippia. "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. 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. Phone Number +1 877 0505 7147. 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. CBI websites generally use certain cookies to enable better interactions with our sites and services. The company was founded in 2017 and is based in San Francisco, California. 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. from 8 AM - 9 PM ET. 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. Investors Security Type; CASTLIGHT HEALTH, INC. Last August, the company cemented its . 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. Lyras lead product candidate, LYR-210, is in late-stage clinical development for the treatment of chronic rhinosinusitis and is designed to deliver up to six months of continuous anti-inflammatory drug therapy to the sinonasal passages. from 8 AM - 9 PM ET. Leading self-insured employers partner with Lyra to tailor value-driven mental health benefits programs specific to their workforce. . Developer of a digital health platform designed to transform mental health care through technology along with the human touch. Top investors are Durable Capital Partners, Fidelity Management & Research, and Baillie Gifford. 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. In a single month, Lyra Health normally makes close to $775,000 in revenue. That speaks to how hard access has been for most people for most of their life.. LYRA HEALTH Revenue, Growth & Competitor Profile - IncFact.com Apr 18, 2022. 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 firms track record includes public and private investments across industries and geographies, with a particular focus on technology-enabled businesses. View Lyra Health (www.lyrahealth.com) location in California, United States , revenue, industry and description. 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. Sign up for a free trial to see Lyra Health's valuations in January 2022, January 2021, August 2020 and more. 2023 Lyra Health, Inc. works in partnership with Lyra Clinical Associates P.C. Chris Metinko. Lyra Company Profile: Valuation & Investors | PitchBook Lyra Health has kept busy over the past year. 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. We are reaching out to the company and investors for a . Lyra Health now worth $2.3B on heels of . 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. Coatue led the round and was joined by new investor Sands Capital, along with existing investors. "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. Constrained optimization for provider groups, Personalized adaptive risk assessment service, Co-Founder, Chief Executive Officer & Board Member, To view Lyras complete valuation and funding history, request access, To view Lyras complete cap table history, request access, Youre viewing 2 of 29 competitors. Lyra Health's 2020 revenue was $100M. You can read more about your cookie choices at our privacy policyhere. Join us for Breakthrough, Lyras annual mental health conference, in San Francisco. Lyra Health has 36 investors including Castlight Health, Providence, Castlight Health and Venrock Associates. 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. 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. 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. Calm started out as a direct-to-consumer mindfulness app with guided meditations and soothing soundtracks. 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.. It was founded in 2012 and is based in New York, New York. With the new funding, Lyra plans to accelerate . Log In. Edit Investors Section. Their latest acquisition was ICAS World on January 19, 2022. Comparatively, just 24% of people who receive care through traditional health plans demonstrate reliable clinical improvement. (Annual sales and employees). 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. The World Health Organization estimates that the loss in productivity due to depression and anxiety alone costs the global economy $1 trillion each year. 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. 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. 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. Comparatively, just 24% of people who receive care through traditional health plans demonstrate reliable clinical improvement. Contact:Kaitlin Rebella[emailprotected](248) 318-4303, Cision Distribution 888-776-0942 Type: Company - Private. Benefits Unicorn Lyra Health Raises $200M Series F at $4.6B Valuation While there is widespread agreement that improving access to mental health services is sorely needed, the explosion of funding and sky high valuations means consumers and clinicians are left to sort through hundreds of options without a good sense of which will work and which are just hype. Mental health is the defining problem of our time. Sign up for a free trial to see Lyra Health's valuations in January 2022, January 2021, August 2020 and more. Lyra Health Completes $200M Funding Round to Transform Mental Health The Series F was led by Coatue and values the company at an astounding $4.6 billion. Lyra's second annual Breakthrough conference was an enormous success, with over 2,000 registrants coming together to reimagine mental health. Lyra is dedicated to redefining access to high-quality mental healthcare for both individuals and employers on a global scale, said Sisco. . To ensure the most secure and best overall experience on our website, we recommend the latest versions of. 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. 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. Fidelity Management and Research Company Durable Capital Partners Baillie Gifford Lyra currently serves more than 2.2 million members globally. Chrome Extension. About Lyra Health The round was led by Addition and had . All rights reserved. "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. Lyra Health Revenue: Annual, Quarterly, and Historic - Zippia . The startups take different approaches to connecting users with mental health services. Gold recognizes that the U.S. mental healthcare system is broken and is all for getting vulnerable patients the help they need. 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. Get the full list, Youre viewing 5 of 10 board members. 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. 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. 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. 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. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Lyra Therapeutics, Inc. (Name of Registrant as Specified in its Charter) . Lyra currently serves more than 2.2 million members globally. Lyra Health Completes $200M Funding Round | Lyra Health Funding, Valuation & Revenue. Lyra Health's valuation in June 2021 was $4,600M. Lyra Health has a post-money valuation in the range of $1B to $10B as of Jan 19, 2022 . Coatue Management invested in Lyra Health's Series G funding round. I'm a senior writer covering healthcare technology. The publication initially broke the news back in May, according to two people familiar with the deal. Elizabeth Anderson, VP Communications and Investor Relations Investor Name . Dragoneer led the round and was joined by new investor Salesforce Ventures along with existing investor Coatue. The company has between 500 and 1000 employees and is backed by 20 investors. 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's matching technology and innovative digital platform connect members to a curated network of top . 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. Lyra provides evidence-based care that supports people across all facets of mental health, from wellness and preventive care to the most severe conditions. Around one in four Americans dont have access to in-network therapists, according to the National Alliance on Mental Illness. Unmind operates as a workplace mental health platform. and other contracted partners to be your Lyra Care Navigator Team and deliver clinical services. 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 announcement confirms an earlier report by The Information. 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. The biggest hurdle isn't treatmentit's access. For more information, visit lyrahealth.com and follow us on LinkedIn, Facebook, and Twitter. Many mental health providers choose to operate out of insurance networks, since the reimbursement rates are so low. A peer-reviewed study found Lyra's Blended Care Therapy helped 83% of participants improve or recover from anxiety or depression. Lyra Health makes $25,479 in a day. 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. By year-end, venture investors poured a record-setting $1.5 billion into mental health-related startups. 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 . Learn more. kathryn@theyatesnetwork.com 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 separately announced today new plans to enhance its international solutions. Lyra Health Completes $235M Funding Round, led by Dragoneer, to Fuel The company, which now has an enterprise division that sells to businesses, claims to help users reduce stress and sleep better. Lyra Health is getting attention because of its . 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. 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.
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