Products. You can read more about your cookie choices at our privacy policyhere. For more information about Lyra Healths innovative mental health benefits for employers, visit lyrahealth.com. Lyra Health's latest post-money valuation is from January 2022. BURLINGAME, Calif., June 14, 2021 /PRNewswire/ -- Lyra Health, the leading provider of comprehensive mental health care benefits for employers, today announced . Company appoints Robynne Sisco to Board of Directors. Kathryn Morris Lyra's second annual Breakthrough conference was an enormous success, with over 2,000 registrants coming together to reimagine mental health. 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. Resources. 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. Lyra@argopartners.com Jun 14, 2021, 08:00 ET. Note: Lyra Health's revenues are gauged from an analysis of company filings. The company was founded in 2017 and is based in San Francisco, California. Some of these valuations are beyond appropriate given the underlying fundamentals, Suennen says. Edit Investors Section. Mental health is the defining problem of our time. By year-end, venture investors poured a record-setting $1.5 billion into mental health-related startups. 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. Leading self-insured employers partner with Lyra to tailor value-driven mental health benefits programs specific to their workforce. 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. In April, KKR acquired a majority interest in the mental health electronic records software company Therapy Brands for an undisclosed amount. Join us for Breakthrough, Lyras annual mental health conference, in San Francisco. 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. 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 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 . These investors may include private investors, venture capital firms, or other investment vehicles. PitchBooks non-financial metrics help you gauge a companys traction and growth using web presence and social reach. Tyler Gagnon, CanaleComm The funding surge feels very fad-like right now, which concerns me, as do the ballooning valuations. 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. 646-655-8390 But it was the Covid-19 pandemic and collective psychological fallout that finally mainstreamed mental health. Fidelity Management and Research Company Durable Capital Partners Baillie Gifford With Lyra, benefits leaders can offer employees fast, reliable access to providers who practice evidence-based mental health care treatments. The employee data is based on information from people who have self-reported their past or current employments at Lyra Health. "The traditional mental health care system cannot address the critical needs people have today. Revenue: $100 to $500 million (USD) Competitors: Unknown. In 2020, Lyra announced a partnership with Calm, the top mental fitness and resilience application, with more than 90 million downloads to date. 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. It covers mental well-being needs through both evidence-based technology and professional support from a coach or therapist. 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. 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. 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. 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. 2015. 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 currently serves more than 2.2 million members globally. Coatue led the round and was joined by new investor Sands Capital, along with existing investors. 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. Unmind operates as a workplace mental health platform. It partners with enterprises, pharma companies, and health plans to create new products that help support and manage specific mental and physical conditions. 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. elizabeth.anderson@lianbio.com Lyra Health now worth $2.3B on heels of . For more information about Lyra Health's innovative mental health benefits for employers, visitlyrahealth.com. Argot Partners 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. In 2019, around 11% of U.S. adults reported experiencing symptoms of anxiety or depression, which skyrocketed to 42% by December 2020. "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. Lyra Health makes $25,479 in a day. Lyra plans to continue expanding Blended Care to serve a wide range of members and mental health challenges. Lyra is trusted by leading companies, including Genentech, a member of the Roche Group; Uber; and VCA Animal Hospitals. Lyra Therapeutics: 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. Theres also the question of what might be lost if the majority of mental health visits shift online. The platform offers scientifically-backed tools and training for healthier, happier, more human organizations. 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. PitchBooks comparison feature gives you a side-by-side look at key metrics for similar companies. The next mental health startup to reach a billion dollar valuation was Calm in 2019. The round was led by Addition and had . The Week's 10 Biggest Funding Rounds: Lyra Health Gets Large Raise To Boost Mental Health, Clari Sees $225M To Manage Revenue. Funding, Valuation & Revenue. Lyra Health has 36 investors including Castlight Health, Providence, Castlight Health and Venrock Associates. 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. Lyra Health's announcement confirms an earlier report by The Information. It was founded in 2012 and is based in New York, New York. 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. Chris Metinko. 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. 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. Media Contact: 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. By continuing to use this site you are consenting to these choices. Lyras XTreo platform is comprised of a biocompatible mesh scaffold, an engineered elastomeric matrix and a versatile polymer-drug complex. Date Investors Percent Raised Target Size; January 28, 2021: 33: 100%: "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. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. WATERTOWN, Mass. 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. Lyra Health peak revenue was $9.3M in 2022. 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. site you are consenting to these choices. our sites and services. When typing in this field, a list of search results will appear and be automatically updated as you type. 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. 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. Crazy indeed. 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. Lyra Health is the leading provider of Workforce Mental Health benefits, serving 10 million global employees and their dependents. 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. And that's not unique to mental health, thats digital health across the board right now.. Leading self-insured employers partner with Lyra to tailor value-driven mental health benefits programs specific to their workforce. The biggest hurdle isn't treatmentit's access. 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. 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. 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. 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. 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. I hope that the interest in mental health is now persistent, Suennen says. Lyra Health doubles customers, expands to serve more than 2 million members. Lyras 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. 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. CBI websites generally use certain cookies to enable better interactions with. 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. Email; Facebook; . The data presented on this page does not represent the view of Lyra Health and its employees or that of Zippia. 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 acquired 1 company. 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. Their latest funding was raised on Jan 19, 2022 from a Series F round. 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. 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. LYR-210 is designed as a non-invasive alternative to sinus surgery for the millions of CRS patients who have failed medical management. 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. Dragoneer is a growth-oriented investment firm with over $25 billion in long-duration capital. according to the National Alliance on Mental Illness. BURLINGAME, Calif, Jan. 28, 2021 /PRNewswire/ -- Lyra Health, the leading provider of comprehensive mental health care benefits for employers, today announced a Series E . 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. With the new funding, Lyra plans to accelerate . Sign up for a free trial to see revenue data from 2020 and more. Log In. Lyra Health's valuation in June 2021 was $4,600M. Spring Health was founded in 2016 and is based in New York,New York. Sign up for a free trial to see Lyra Health's valuations in January 2022, January 2021, August 2020 and more. Existing partners also participated in the funding round. Last August, the company cemented its . You can access direct insights and strategies from . And then everything went crazy.. For more information, please visit www.lianbio.com. 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 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 . 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 General Information. You're more than your latest funding, tell our customers your company's story. 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. 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. Contact:Kaitlin Rebella[emailprotected] (248) 318-4303, Cision Distribution 888-776-0942 "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 also today announced the addition of Robynne Sisco to its Board of Directors. Their latest acquisition was ICAS World on January 19, 2022. Lyra is dedicated to redefining access to high-quality mental healthcare for both individuals and employers on a global scale, said Sisco. 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.. Lyra Health is funded by 35 investors. Sisco is currently co-president and chief financial officer at Workday. Coatue led the round and was joined by new investor Sands Capital, along with existing investors. "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.". Competitors of Lyra Health include Spring Health, Twill, Strove, Valera Health, Alma, Brightline, Sanarai, TaskHuman, moka.care, Panda and 21 more. Lyra Health Investors. 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).

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