Lyra Therapeutics and LianBio Announce Strategic Partnership and With the new funding, Lyra plans to accelerate . This new funding will help Lyra deliver comprehensive and culturally responsive mental health care for organizations and their employees and families," said Ebersman. Leading self-insured employers partner with Lyra to tailor value-driven mental health benefits programs specific to their workforce. 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 . Solutions. . LianBio is betting on Lyra Health . Some of these valuations are beyond appropriate given the underlying fundamentals, Suennen says. 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. The digital behavioral-health-benefits platform Lyra Health announced today the closing of its Series E funding round worth $187 million. 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. The company, which now has an enterprise division that sells to businesses, claims to help users reduce stress and sleep better. Lyra is dedicated to redefining access to high-quality mental healthcare for both individuals and employers on a global scale, said Sisco. Company appoints Robynne Sisco to Board of Directors. 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. Their latest acquisition was ICAS World on January 19, 2022. It was founded in 2012 and is based in New York, New York. Pricing. There were 124 deals last year, compared to 69 deals in 2016. 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 doubles customers, expands to serve more than 2 million members. Funding. 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. Apr 18, 2022. Spring Health provides personalized mental healthcare for employees' well-being. Emerson Collective and Salesforce Ventures are the most recent investors. Lyra quickly connects members to an exclusive network of evidence-based providers, mental health coaches, digital wellness tools, and personalized medication programs. By year-end, venture investors poured a record-setting $1.5 billion into mental health-related startups. Series E - Lyra Health - 2021-01-28 - CrunchBase Lyra Health's latest funding round was a Series G for $235M on January 19, 2022. Lyras XTreo platform is comprised of a biocompatible mesh scaffold, an engineered elastomeric matrix and a versatile polymer-drug complex. The next mental health startup to reach a billion dollar valuation was Calm in 2019. 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. 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 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 . Personalize which data points you want to see and create visualizations instantly. WATERTOWN, Mass. Description. Lyra quickly connects members to an exclusive network of evidence-based providers, mental health coaches, digital wellness tools, and personalized medication programs. The funding surge feels very fad-like right now, which concerns me, as do the ballooning valuations. The company was formerly known as Happify Health and Happify. 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. By continuing to use this site you are consenting to these choices. Investor Activity Lyra Health has actively raised capital from investors. 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. 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. The employee data is based on information from people who have self-reported their past or current employments at Lyra Health. LYR-210 is an anti-inflammatory, intra-nasal drug matrix in late-stage development that is designed to treat chronic rhinosinusitis (CRS), a debilitating inflammatory disease of the nasal passages. The highwater mark was set pre-pandemic when the telepsychiatry and specialty pharmacy company Genoa Health sold to UnitedHealth Group for $2.5 billion in 2018. 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. After extensive research and analysis, Zippia's data science team found the following key financial metrics. Number of Investors 4. You're more than your latest funding, tell our customers your company's story. 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. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. 2023 Lyra Health, Inc. works in partnership with Lyra Clinical Associates P.C. Lyra Health Now Valued at $4.6B After Latest Fundraising Sign up for a free trial to see Lyra Health's valuations in January 2022, January 2021, August 2020 and more. Lyra Health has raised around $910 million in funding over 8 rounds from investors like Salesforce Ventures, Coatue, and Emerson Collective. 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. (Annual sales and employees). The Week's 10 Biggest Funding Rounds: Lyra Health Gets Large Raise To Boost Mental Health, Clari Sees $225M To Manage Revenue. In 2016, more than half of the counties in the U.S. didnt have a single psychiatrist. San Francisco-based 6sense closed a $200 million Series E co-led by new investors Blue Owl and MSD Partners at a $5.2 billion valuation . Comparatively, just 24% of people who receive care through traditional health plans demonstrate reliable clinical improvement. When typing in this field, a list of search results will appear and be automatically updated as you type. 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. according to the National Alliance on Mental Illness. Lyra Health Stock Price, Funding, Valuation, Revenue & Financial Statements In 2019, around 11% of U.S. adults reported experiencing symptoms of anxiety or depression, which skyrocketed to 42% by December 2020. Lyra hit unicorn status in 2020 in a pandemic-fueled funding round, and Modern Health, BetterUp and Ginger joined the club in 2021. With the new funding, Lyra plans to accelerate its delivery of evidence-based mental health benefits for companies with employees located around the world. Developer of a digital health platform designed to transform mental health care through technology along with the human touch. 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. 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 Health Hits $1.1 Billion Valuation, As Coronavirus Boosts - Forbes 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. Modern Health operates as a mental health benefits platform for employers. 212-600-1902 . "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. Partners . 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. 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. Chris Metinko. Get the full list, Youre viewing 5 of 10 board members. About Lyra HealthLyra Health is the leading provider of Workforce Mental Health benefits, serving 10 million global employees and their dependents. Lyra plans to continue expanding Blended Care to serve a wide range of members and mental health challenges. Mental health is the defining problem of our time. 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. Sisco is currently co-president and chief financial officer at Workday. Media Contact: 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. In 2020, peer-reviewed Lyra research demonstrated the effectiveness of the Blended Care treatment program for clients with depression and anxiety. The Covid-19 pandemic and collective psychological fallout finally mainstreamed mental health. DEF 14A - sec.gov Get the full list, Youre viewing 5 of 35 investors. As part of the agreement, LianBio will also have the first right to obtain development and commercial rights in the licensed territories to Lyras LYR-220, an anti-inflammatory, intra-nasal, drug matrix in development for the treatment of CRS patients who have undergone a prior sinus surgery but continue to have persistent disease. Lyra Health's valuation in June 2021 was $4,600M. 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. ", "We are excited to welcome Robynne to our Board of Directors," said David Ebersman, Lyra Health CEO and co-founder. Lyra Health Completes $187M Series E Financing to Advance Comprehensive Lyra currently serves more than 2.2 million members globally. 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. This new funding will help Lyra deliver comprehensive and culturally responsive mental health care for organizations and their employees and families, said Ebersman. Investors Dragoneer . For more information, visit lyrahealth.com and follow us on LinkedIn, Facebook, and Twitter. Based on Cognitive Behavioral Therapy principles, this immersive treatment model with ongoing support between sessions helps individuals improve faster. Lyra Health Completes $235M Funding Round, led by Dragoneer, to Fuel 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.. You can read more about your cookie choices at our privacy policyhere. 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. 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. Revenue: $100 to $500 million (USD) Competitors: Unknown. Note: Lyra Health's revenues are gauged from an analysis of company filings. Coatue led the round and was joined by new investor Sands Capital, along with existing investors. 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. "The traditional mental health care system cannot address the critical needs people have today. 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. 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. 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. 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.. Through the partnership, Lyra is making it easier for employers to offer a wide range of mental health tools from a single platform. Under the terms of the agreement, Lyra will receive an upfront payment of $12 million and is eligible to receive up to $135 million in future payments based upon the achievement of specified development, regulatory and commercialization milestones. Lyra Health Revenue: Annual, Quarterly, and Historic - Zippia Lyra Health peak revenue was $9.3M in 2022. "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.". Funding, Valuation & Revenue. But it was the Covid-19 pandemic and collective psychological fallout that finally mainstreamed mental health. 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. 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. The round was led by Addition and had . Lyra Health Completes $200M Funding Round | Lyra Health Lyra Health's annual revenues are $100-$500 million, 5416 Management, Scientific & Technical Consulting Services. "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. If you or someone you know is thinking about suicide, please call the National Suicide Prevention Lifeline at 800-273-TALK (8255) or text the Crisis Text Line at 741-741.