About Dragoneer Investment GroupDragoneer is a growth-oriented investment firm with over $25 billion in long-duration capital. 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. "Lyra is dedicated to redefining access to high-quality mental healthcare for both individuals and employers on a global scale," said Sisco. For more information, visit lyrahealth.com and follow us on LinkedIn, Facebook, and Twitter. Resources. BURLINGAME, Calif., June 14, 2021 /PRNewswire/ -- Lyra Health, the leading provider of comprehensive mental health care benefits for employers, today announced . Lyra plans to continue expanding Blended Care to serve a wide range of members and mental health challenges. Lyra is now able to directly support more than 2 million members as we enable employers to offer their people easy, effective access to clinically proven mental health care. Lyra Health's latest funding round was a Series G for $235M on January 19, 2022. Jessi Gold, a psychiatrist and assistant professor at Washington University in St. Louis, has been conducting virtual appointments but prefers to see patients in person. 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 . For more information, please visit www.lianbio.com. 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. Lyra separately announced today it has acquired ICAS World, an employee assistance program provider with operations in more than 155 countries. 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. Get the full list, Youre viewing 5 of 10 board members. WATERTOWN, Mass. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including statements regarding the clinical development, potential commercialization and potential benefits of LYR-210 and LYR-220, and the success of the companys strategic partnership and license agreement with LianBio. kathryn@theyatesnetwork.com Calm provides a relaxation and self-improvement service accessible through its website and mobile application. Lyra Health doubles customers, expands to serve more than 2 million members. Apr 18, 2022. 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. Media Contact: Coatue Management invested in Lyra Health's Series G funding round. Dragoneer is a growth-oriented investment firm with over $25 billion in long-duration capital. PitchBooks comparison feature gives you a side-by-side look at key metrics for similar companies. The company was formerly known as Happify Health and Happify. 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.". /PRNewswire/ -- Lyra Health, the leading provider of innovative Workforce Mental Health solutions for employers, today announced it has completed a $235M . 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. Type: Company - Private. Developer of a digital health platform designed to transform mental health care through technology along with the human touch. The startups take different approaches to connecting users with mental health services. When typing in this field, a list of search results will appear and be automatically updated as you type. 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. Leading self-insured employers partner with Lyra to tailor value-driven mental health benefits programs specific to their workforce. You can read more about your. 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. Funding. Theres also the question of what might be lost if the majority of mental health visits shift online. 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. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. The Covid-19 pandemic and collective psychological fallout finally mainstreamed mental health. In 2020, Lyra announced a partnership with Calm, the top mental fitness and resilience application, with more than 90 million downloads to date. Many of these startups partner with research institutions to publish studies, but no one has performed a head-to-head comparison of the market. Developer of a digital health platform designed to transform mental health care through technology along with the human touch. Coatue led the round and was joined by new investor Sands Capital, along with existing investors. Company appoints Robynne Sisco to Board of Directors. 508 904 9446 10 Fundings. 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. 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.. 646-655-8390 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.. There were 124 deals last year, compared to 69 deals in 2016. Phone Number +1 877 0505 7147. Unmind operates as a workplace mental health platform. Many mental health providers choose to operate out of insurance networks, since the reimbursement rates are so low. In April, KKR acquired a majority interest in the mental health electronic records software company Therapy Brands for an undisclosed amount. Jan 28, 2021, 08:00 ET. Leading self-insured employers partner with Lyra to tailor value-driven mental health benefits programs specific to their workforce. By continuing to use this site you are consenting to these choices. 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. 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. Investors of Lyra Health include Coatue Management, Dragoneer Investment Group, Salesforce Ventures, Institutional Venture Partners, Sands Capital and 19 more. 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. 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. 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. 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. Competitors of Lyra Health include Spring Health, Twill, Strove, Valera Health, Alma, Brightline, Sanarai, TaskHuman, moka.care, Panda and 21 more. Investor Name . 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. 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? Coatue led the round and was joined by new investor Sands Capital, along with existing investors. according to the National Alliance on Mental Illness. Lyra quickly connects members to an exclusive network of evidence-based providers, mental health coaches, digital wellness tools, and personalized medication programs. Lyra Health's valuation in June 2021 was $4,600M. For more information, visit lyrahealth.com and follow us on LinkedIn, Facebook, and Twitter. Log In. Through the partnership, Lyra is making it easier for employers to offer a wide range of mental health tools from a single platform. 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. Lyra Health has raised around $910 million in funding over 8 rounds from investors like Salesforce Ventures, Coatue, and Emerson Collective. You can read more about your cookie choices at our privacy policyhere. 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.. 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. 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. 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. 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. In 2020, peer-reviewed Lyra research demonstrated the effectiveness of the Blended Care treatment program for clients with depression and anxiety. 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. Last August, the company cemented its . Lyra Health is getting attention because of its . Twill provides digital therapeutics and care delivery models focused on mental and physical health. 2023 Lyra Health, Inc. works in partnership with Lyra Clinical Associates P.C. 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. Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. Lyra Health has kept busy over the past year. 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.. Gold recognizes that the U.S. mental healthcare system is broken and is all for getting vulnerable patients the help they need. Copyright 2023 CB Information Services, Inc. All rights reserved. Resources. our sites and services. Mental health is the defining problem of our time. . Theres also concern that the hyper focus on technology and virtual care is like putting lipstick on a pig. Sign up for a free trial to see Lyra Health's valuations in January 2022, January 2021, August 2020 and more. 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. . 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. 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. The publication initially broke the news back in May, according to two people familiar with the deal. Join us for Breakthrough, Lyras annual mental health conference, in San Francisco. and other contracted partners to be your Lyra Care Navigator Team and deliver clinical services. Email; Facebook; . Personalize which data points you want to see and create visualizations instantly. Get the full list, To view Lyras complete patent history, request access, Youre viewing 5 of 16 executive team members. Contact:Kaitlin Rebella[emailprotected] (248) 318-4303, Cision Distribution 888-776-0942 Pricing. For more information about Lyra Healths innovative mental health benefits for employers, visit lyrahealth.com. This Series E round pushes the company to $475.1 million in total funding for a post money valuation of over $2 billion. Lyra Health's announcement confirms an earlier report by The Information. Lyra's 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. Headspace develops an online membership platform offering guided meditation and mindfulness. Lyra quickly connects members to an exclusive network of evidence-based providers, mental health coaches, digital wellness tools, and personalized medication programs. 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. 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. With the new funding, Lyra plans to accelerate its delivery of evidence-based mental health benefits for companies with employees located around the world. elizabeth.anderson@lianbio.com (Annual sales and employees). It partners with enterprises, pharma companies, and health plans to create new products that help support and manage specific mental and physical conditions. Seed: Venrock: Seed: Providence Health & Services: Series A: Origin Capital Management . 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. LYR-210 is designed as a non-invasive alternative to sinus surgery for the millions of CRS patients who have failed medical management. It was founded in 2012 and is based in New York, New York. Fidelity Management and Research Company Durable Capital Partners Baillie Gifford Lyra Health's annual revenues are $100-$500 million, 5416 Management, Scientific & Technical Consulting Services. Lyra Health has 36 investors including Castlight Health, Providence, Castlight Health and Venrock Associates. Top investors are Durable Capital Partners, Fidelity Management & Research, and Baillie Gifford. Lyra Health makes $25,479 in a day. The firm's track record includes public and private investments across industries and geographies, with a particular focus on technology-enabled businesses. Get the full list, Youre viewing 5 of 35 investors. Lyra Health Investors. The Week's 10 Biggest Funding Rounds: Lyra Health Gets Large Raise To Boost Mental Health, Clari Sees $225M To Manage Revenue. 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. and other contracted partners to be your Lyra Care Navigator Team and deliver clinical services. The mental health platform companies help connect users directly with therapists and other providers. Some, like San Francisco, Calif.-based Calm, valued at $2 billion, dont have a medical component. Lyra Therapeutics, Inc. (Name of Registrant as Specified in its Charter) . 2023 PitchBook. Any such forward-looking statements represent managements estimates as of the date of this press release. Lyra Health's 2020 revenue was $100M. Spring Health was founded in 2016 and is based in New York,New York. Lyra Blended Care is scalable and extensible, leveraging technology to deliver better care quality and clinical outcomes, while reducing the cost of care. Is Lyra Health a public company? Legal Name Lyra Health, Inc. Hub Tags Unicorn. 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. 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 . Media Contact: PitchBooks non-financial metrics help you gauge a companys traction and growth using web presence and social reach. Join us for Breakthrough, Lyras annual mental health conference, in San Francisco. 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. Kathryn Morris These investors may include private investors, venture capital firms, or other investment vehicles. Chrome Extension. We heard from HR and benefits leaders, benefits consultants, and Lyra experts on top-of-mind issues for mental health in the workplace. 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. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. And then everything went crazy.. . 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. Win whats next. Dragoneer has a history of partnering with management teams growing exceptional companies characterized by sustainable differentiation and superior economic models. 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. "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. None of the information on this page has been provided or approved by Lyra Health. Lyra Health's most recent revenue is from 2020. The firms track record includes public and private investments across industries and geographies, with a particular focus on technology-enabled businesses. Partnership opens expanded opportunity for LYR-210 to address chronic rhinosinusitis, a disease affecting approximately 88 million adults in China. 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. Lyra separately announced today new plans to enhance its international solutions. The next mental health startup to reach a billion dollar valuation was Calm in 2019. Who are Lyra Health's competitors? A peer-reviewed study found Lyras Blended Care Therapy helped 83% of participants improve or recover from anxiety or depression. 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. This new funding will help Lyra deliver comprehensive and culturally responsive mental health care for organizations and their employees and families," said Ebersman.

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