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Lyra Health. Lyra separately announced today new plans to enhance its international solutions. Lyra Health makes $25,479 in a day. Partnership opens expanded opportunity for LYR-210 to address chronic rhinosinusitis, a disease affecting approximately 88 million adults in China. By continuing to use this site you are consenting to these choices. Company Type For Profit. Robynne Sisco Joins Board of DirectorsLyra also today announced the addition of Robynne Sisco to its Board of Directors. I hope that the interest in mental health is now persistent, Suennen says. In 2020, Lyra announced a partnership with Calm, the top mental fitness and resilience application, with more than 90 million downloads to date. 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 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. . "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. The company was formerly known as Happify Health and Happify. Lyra delivers mental health for employees and family members at leading multinational companies, including eBay; Genentech, a member of the Roche Group; Uber; and VCA Animal Hospitals. Coatue led the round and was joined by new investor Sands Capital, along with existing investors. 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. From 2016 to 2018, she served as a professor at the Center for Innovation for Global Health at Stanford University. Dr. . 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 . 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 . Many of these startups partner with research institutions to publish studies, but no one has performed a head-to-head comparison of the market. Contact:Kaitlin Rebella[emailprotected](248) 318-4303, Cision Distribution 888-776-0942 Lyra Health completes $187M Series E round and expands - MobiHealthNews In the LANTERN Phase 2 clinical trial, LYR-210 (7500mcg) demonstrated rapid, clinically meaningful and durable symptom improvement in symptom scores over six months. Spring Health was founded in 2016 and is based in New York,New York. 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 is dedicated to redefining access to high-quality mental healthcare for both individuals and employers on a global scale," said Sisco. Many mental health providers choose to operate out of insurance networks, since the reimbursement rates are so low. For more information about Lyra Health's innovative mental health benefits for employers, visitlyrahealth.com. Calm started out as a direct-to-consumer mindfulness app with guided meditations and soothing soundtracks. Lyra Health Stock Price, Funding, Valuation, Revenue & Financial Statements You're more than your latest funding, tell our customers your company's story. 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. Sisco is currently co-president and chief financial officer at Workday. View Lyra Health (www.lyrahealth.com) location in California, United States , revenue, industry and description. Lyra Health's annual revenues are $100-$500 million, 5416 Management, Scientific & Technical Consulting Services. 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 . 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. 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. Lyra Health Completes $235M Funding Round, led by Dragoneer, to Fuel You can read more about your. 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. Win whats next. "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.". Theres also concern that the hyper focus on technology and virtual care is like putting lipstick on a pig. Last August, the company cemented its . 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 helps companies improve access to effective, high-quality mental health care for their employees. This Series E round pushes the company to $475.1 million in total funding for a post money valuation of over $2 billion. I'm a senior writer covering healthcare technology. With the new funding, Lyra plans to accelerate its delivery of evidence-based mental health benefits for companies with employees located around the world. This new funding will help Lyra deliver comprehensive and culturally responsive mental health care for organizations and their employees and families, said Ebersman. 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. 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. Lyra is trusted by leading companies, including Genentech, a member of the Roche Group; Uber; and VCA Animal Hospitals. Get the full list, Youre viewing 5 of 35 investors. DEF 14A - sec.gov A peer-reviewed study found Lyras Blended Care Therapy helped 83% of participants improve or recover from anxiety or depression. "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. BURLINGAME, Calif, Jan. 28, 2021 /PRNewswire/ -- Lyra Health, the leading provider of comprehensive mental health care benefits for employers, today announced a Series E . Around one in four Americans dont have access to in-network therapists, according to the National Alliance on Mental Illness. Lyra Health has raised around $910 million in funding over 8 rounds from investors like Salesforce Ventures, Coatue, and Emerson Collective. 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. There were 124 deals last year, compared to 69 deals in 2016. WATERTOWN, Mass. Coatue Management invested in Lyra Health's Series G funding round. Any such forward-looking statements represent managements estimates as of the date of this press release. "The traditional mental health care system cannot address the critical needs people have today. 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. 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. Dragoneer led the round and was joined by new investor Salesforce Ventures along with existing investor Coatue. Dragoneer is a growth-oriented investment firm with over $25 billion in long-duration capital. Lyra's matching technology and innovative digital platform connect members to a curated network of top . 2015. About Dragoneer Investment GroupDragoneer is a growth-oriented investment firm with over $25 billion in long-duration capital. Developer of a digital health platform designed to transform mental health care through technology along with the human touch. Lyra provides evidence-based care that supports people across all facets of mental health, from wellness and preventive care to the most severe conditions. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Lyra Health Completes $235M Funding Round, led by Dragoneer, to Fuel Lyra Therapeutics, Inc. (Name of Registrant as Specified in its Charter) . Lyra Therapeutics and LianBio Announce Strategic Partnership and Investor Activity Lyra Health has actively raised capital from investors. Venture Funding For Mental Health Startups Hits Record High As - Forbes Series E - Lyra Health - 2021-01-28 - CrunchBase from 8 AM - 9 PM ET. We are reaching out to the company and investors for a . Get the full list, To view Lyras complete acquisitions history, request access, To view Lyras complete subsidiaries history, request access, Morningstar Institutional Equity Research. When typing in this field, a list of search results will appear and be automatically updated as you type. Lyra Health Completes $200M Funding Round to Transform Mental Health 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.. Spring Health provides personalized mental healthcare for employees' well-being. Lyra Health Completes $200M Funding Round | Lyra Health 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. This is the only company I've ever worked with, where we don't have to do marketing, says Kocher. For more information, please visit www.lyratherapeutics.com and follow us on LinkedIn and Twitter. By year-end, venture investors poured a record-setting $1.5 billion into mental health-related startups. Their latest acquisition was ICAS World on January 19, 2022. 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. Worldwide, 970 million people are living with mental health issues. 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. It was founded in 2010 and is based in Santa Monica, California. It also noted that Lyra Health's most recent price per share is $27.47, an up round from the Series D, which priced shares at $14.21. Funding. Legal Name Lyra Health, Inc. Hub Tags Unicorn. 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. Apr 18, 2022. 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. 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. Lyra currently serves more than 2.2 million members globally. The round was led by Addition and had . Tyler Gagnon, CanaleComm Jun 14, 2021, 08:00 ET. Gold recognizes that the U.S. mental healthcare system is broken and is all for getting vulnerable patients the help they need. The Covid-19 pandemic and collective psychological fallout finally mainstreamed mental health. Contact:Kaitlin Rebella[emailprotected] (248) 318-4303, Cision Distribution 888-776-0942 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. 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. 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 and commercializing the behavioral health sector - FlowBank Mental wellness platform Lyra Health is raising up to - TechCrunch from 8 AM - 9 PM ET. Lyra Health - Products, Competitors, Financials, Employees 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. Benefits Unicorn Lyra Health Raises $200M Series F at $4.6B Valuation Lyra's 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 about Lyra Health's innovative mental health benefits for employers, visit lyrahealth.com. Lyra Health now worth $2.3B on heels of . Note: Lyra Health's revenues are gauged from an analysis of company filings. 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. 2023 Lyra Health, Inc. works in partnership with Lyra Clinical Associates P.C. When typing in this field, a list of search results will appear and be automatically updated as you type. Log In. For more information about Lyra Healths innovative mental health benefits for employers, visit lyrahealth.com. Copyright 2023 CB Information Services, Inc. All rights reserved. Dragoneer led the round and was joined by new investor Salesforce Ventures along with existing investor Coatue. Funding, Valuation & Revenue. That speaks to how hard access has been for most people for most of their life.. Claim your profile to get in front of buyers, investors, and analysts. 508 904 9446 Top investors are Durable Capital Partners, Fidelity Management & Research, and Baillie Gifford. Analyst Briefing Submitters are 7x more likely to receive a qualified connection. /PRNewswire/ -- Lyra Health, the leading provider of innovative Workforce Mental Health solutions for employers, today announced it has completed a $235M . our sites and services. 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. Theres also the question of what might be lost if the majority of mental health visits shift online. Lyra separately announced today it has acquired ICAS World, an employee assistance program provider with operations in more than 155 countries. Sign up for a free trial to see Lyra Health's valuations in January 2022, January 2021, August 2020 and more. The mental health platform companies help connect users directly with therapists and other providers. 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. Investors Dragoneer . Behavioral Unicorn Lyra Health Eyes More Corporate Customers, Continued Investor Contact: Sign up for a free trial to see Lyra Health's valuations in January 2022, January 2021, August 2020 and more. 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. Personalize which data points you want to see and create visualizations instantly. Lyra Health revenue is $9.3M annually. 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. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Leading self-insured employers partner with Lyra to tailor value-driven mental health benefits programs specific to their workforce. The latest fundraising was led by investor hedge fund Coatue Management, with participation from new investor Sands Capital. 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. 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 Announces Closing of $75M Series C Financing Lyras XTreo platform is comprised of a biocompatible mesh scaffold, an engineered elastomeric matrix and a versatile polymer-drug complex. Lyra plans to continue expanding Blended Care to serve a wide range of members and mental health challenges. Crazy indeed. The firms track record includes public and private investments across industries and geographies, with a particular focus on technology-enabled businesses. 914-204-6412 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. In a single month, Lyra Health normally makes close to $775,000 in revenue. 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 data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. . Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. Lyra Health's valuation in June 2021 was $4,600M. 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. Lyra Health's latest post-money valuation is from January 2022. Type: Company - Private. Some of these valuations are beyond appropriate given the underlying fundamentals, Suennen says. Get the full list, To view Lyras complete patent history, request access, Youre viewing 5 of 16 executive team members. 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.

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