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 Covid-19 pandemic and collective psychological fallout finally mainstreamed mental health. DEF 14A - sec.gov To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. BURLINGAME, Calif. , Jan. 19, 2022. The Series F was led by Coatue and values the company at an astounding $4.6 billion. "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.". 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. and our Code of Business Conduct and Ethics in the "Governance" section of the "Investors & News" page of our website located at www . With the new funding, Lyra plans to accelerate . Lyra separately announced today new plans to enhance its international solutions. Lyra Health Announces Closing of $75M Series C Financing This new funding will help Lyra deliver comprehensive and culturally responsive mental health care for organizations and their employees and families, said Ebersman. 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. 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. In 2020, peer-reviewed Lyra research demonstrated the effectiveness of the Blended Care treatment program for clients with depression and anxiety. Edit Investors Section. Last August, the company cemented its . Venture Funding For Mental Health Startups Hits Record High As - Forbes Behavioral Unicorn Lyra Health Eyes More Corporate Customers, Continued 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's latest post-money valuation is from January 2022. Get the full list, To view Lyras complete patent history, request access, Youre viewing 5 of 16 executive team members. 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. In a single month, Lyra Health normally makes close to $775,000 in revenue. Win whats next. 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. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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. Number of Investors 4. It partners with enterprises, pharma companies, and health plans to create new products that help support and manage specific mental and physical conditions. Some, like San Francisco, Calif.-based Calm, valued at $2 billion, dont have a medical component. Jun 14, 2021, 08:00 ET. Log In. Lyra Health raised $187000000 on 2021-01-28 in Series E. Search Crunchbase. 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. Partnership opens expanded opportunity for LYR-210 to address chronic rhinosinusitis, a disease affecting approximately 88 million adults in China. 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. from 8 AM - 9 PM ET. 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. 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. Sisco is currently co-president and chief financial officer at Workday. (Neither company can help people who are in a life-threatening mental health crisis and instead link to resources like the National Suicide Prevention Line.) 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 . 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. 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. 2023 PitchBook. A peer-reviewed study found Lyra's Blended Care Therapy helped 83% of participants improve or recover from anxiety or depression. Resources. 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. Lyra provides evidence-based care that supports people across all facets of mental health, from wellness and preventive care to the most severe conditions. Lyra Health Expert Review, Pricing, Alternatives - 2023 CBI websites generally use certain cookies to enable better interactions with. 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. 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. 508 904 9446 Lyra Health's most recent revenue is from 2020. "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.". Series E - Lyra Health - 2021-01-28 - CrunchBase The company was formerly known as Happify Health and Happify. Apr 18, 2022. The World Health Organization estimates that the loss in productivity due to depression and anxiety alone costs the global economy $1 trillion each year. (Annual sales and employees). Dragoneer led the round and was joined by new investor Salesforce Ventures along with existing investor Coatue. Lyra Health Hits $1.1 Billion Valuation, As Coronavirus Boosts - Forbes The latest fundraising was led by investor hedge fund Coatue Management, with participation from new investor Sands Capital. Lyra Therapeutics, Inc. (Name of Registrant as Specified in its Charter) . The Week's 10 Biggest Funding Rounds: Lyra Health Gets Large Raise To Boost Mental Health, Clari Sees $225M To Manage Revenue. Working at Lyra Health | Glassdoor The next mental health startup to reach a billion dollar valuation was Calm in 2019. Lyra separately announced today new plans to enhance its international solutions. Media Contact: It uses an assessment and machine-learning technology to understand all of the conditions of person may be experiencing and uses those results to match them to a care plan personalized to their needs. Lyra Health Stock Price, Funding, Valuation, Revenue & Financial Statements Get the full list, Youre viewing 5 of 10 board members. 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. Kathryn Morris Calm started out as a direct-to-consumer mindfulness app with guided meditations and soothing soundtracks. Personalize which data points you want to see and create visualizations instantly. 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. Lyra Health Revenue: Annual, Quarterly, and Historic - Zippia With Lyra, benefits leaders can offer employees fast, reliable access to providers who practice evidence-based mental health care treatments. Investors of Lyra Health include Coatue Management, Dragoneer Investment Group, Salesforce Ventures, Institutional Venture Partners, Sands Capital and 19 more. Lyra Health has raised a total of $910.1M in funding over 8 rounds. . 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. 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. You can't just put a tool in an inequitable system and expect it to solve all of those inequities. Robynne Sisco Joins Board of DirectorsLyra also today announced the addition of Robynne Sisco to its Board of Directors. Intrepid investors started dabbling in mental healthcare over the past few years as part of a broader digital health funding boom, but many remained wary. The company, which now has an enterprise division that sells to businesses, claims to help users reduce stress and sleep better. 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. Seed: Venrock: Seed: Providence Health & Services: Series A: Origin Capital Management . 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 Company Profile: Valuation & Investors | PitchBook Investors Dragoneer . 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. Dragoneer led the round and was joined by new investor Salesforce Ventures along with existing investor Coatue. 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. 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. 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. "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.
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