This new funding will help Lyra deliver comprehensive and culturally responsive mental health care for organizations and their employees and families," said Ebersman. Based on Cognitive Behavioral Therapy principles, this immersive treatment model with ongoing support between sessions helps individuals improve faster. Lyra Health's deal structure is available for 7 funding rounds, including their Series G from January 19, 2022. Lyra Health has 750 employees, and the revenue per employee ratio is $12,400. Lyra is trusted by leading companies, including Genentech, a member of the Roche Group; Uber; and VCA Animal Hospitals. Investors of Lyra Health include Coatue Management, Dragoneer Investment Group, Salesforce Ventures, Institutional Venture Partners, Sands Capital and 19 more. from 8 AM - 9 PM ET. Contact Email care@lyrahealth.com. Many mental health providers choose to operate out of insurance networks, since the reimbursement rates are so low. With the new funding, Lyra plans to accelerate its delivery of evidence-based mental health benefits for companies with employees located around the world. "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.". The biggest hurdle isn't treatmentit's access. 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.. The World Health Organization estimates that the loss in productivity due to depression and anxiety alone costs the global economy $1 trillion each year. For more information, visit lyrahealth.com and follow us on LinkedIn, Facebook, and Twitter. 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. 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. Innovative, Clinically Proven Mental Health Care for Members WorldwideLyra provides evidence-based care that supports people across all facets of mental health, from wellness and preventive care to the most severe conditions. 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. 2023 PitchBook. 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's second annual Breakthrough conference was an enormous success, with over 2,000 registrants coming together to reimagine mental health. 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'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 . A peer-reviewed study found Lyras Blended Care Therapy helped 83% of participants improve or recover from anxiety or depression. ", "We are excited to welcome Robynne to our Board of Directors," said David Ebersman, Lyra Health CEO and co-founder. Join us for Breakthrough, Lyras annual mental health conference, in San Francisco. Through the partnership, Lyra is making it easier for employers to offer a wide range of mental health tools from a single platform. Funding. There were 124 deals last year, compared to 69 deals in 2016. Developer of a digital health platform designed to transform mental health care through technology along with the human touch. BURLINGAME, Calif, Jan. 28, 2021 /PRNewswire/ -- Lyra Health, the leading provider of comprehensive mental health care benefits for employers, today announced a Series E . None of the information on this page has been provided or approved by Lyra Health. 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. 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. 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. For more information, visit lyrahealth.com and follow us on LinkedIn, Facebook, and Twitter. 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. It was founded in 2012 and is based in New York, New York. LYR-210 is designed as a non-invasive alternative to sinus surgery for the millions of CRS patients who have failed medical management. In 2016, more than half of the counties in the U.S. didnt have a single psychiatrist. Claim your profile to get in front of buyers, investors, and analysts. 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. The employee data is based on information from people who have self-reported their past or current employments at Lyra Health. 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. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. The digital behavioral-health-benefits platform Lyra Health announced today the closing of its Series E funding round worth $187 million. Theres also concern that the hyper focus on technology and virtual care is like putting lipstick on a pig. . 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. Learn more. kathryn@theyatesnetwork.com Lyra quickly connects members to an exclusive network of evidence-based providers, mental health coaches, digital wellness tools, and personalized medication programs. "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. Copyright 2023 CB Information Services, Inc. All rights reserved. The funding surge feels very fad-like right now, which concerns me, as do the ballooning valuations. 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. according to the National Alliance on Mental Illness. 2015. With Lyra, benefits leaders can offer employees fast, reliable access to providers who practice evidence-based mental health care treatments. 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. 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. "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 world's greatest companies.". This is the only company I've ever worked with, where we don't have to do marketing, says Kocher. 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. The Covid-19 pandemic and collective psychological fallout finally mainstreamed mental health. Lyra Health's 2020 revenue was $100M. Lyra 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 . 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). 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 . The platform offers scientifically-backed tools and training for healthier, happier, more human organizations. 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. 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 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. Lyras XTreo platform is comprised of a biocompatible mesh scaffold, an engineered elastomeric matrix and a versatile polymer-drug complex. 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 makes $25,479 in a day. Comparatively, just 24% of people who receive care through traditional health plans demonstrate reliable clinical improvement. Lyra Health's latest post-money valuation is from January 2022. 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. You're more than your latest funding, tell our customers your company's story. 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. Lyra@argopartners.com Lyra Health has 22 investors. Gold recognizes that the U.S. mental healthcare system is broken and is all for getting vulnerable patients the help they need. 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. 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? Lyra quickly connects members to an exclusive network of evidence-based providers, mental health coaches, digital wellness tools, and personalized medication programs. For more information, please visit www.lianbio.com. Products. 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.
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