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. Investor Name . Email; Facebook; . 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. The World Health Organization estimates that the loss in productivity due to depression and anxiety alone costs the global economy $1 trillion each year. For more information about Lyra Health's innovative mental health benefits for employers, visitlyrahealth.com. Revenue: $100 to $500 million (USD) Competitors: Unknown. "Lyra is dedicated to redefining access to high-quality mental healthcare for both individuals and employers on a global scale," said Sisco. This Series E round pushes the company to $475.1 million in total funding for a post money valuation of over $2 billion. from 8 AM - 9 PM ET. You're more than your latest funding, tell our customers your company's story. 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 hit unicorn status in 2020 in a pandemic-fueled funding round, and Modern Health, BetterUp and Ginger joined the club in 2021. Lyra Health doubles customers, expands to serve more than 2 million members. The platform offers scientifically-backed tools and training for healthier, happier, more human organizations. Leading self-insured employers partner with Lyra to tailor value-driven mental health benefits programs specific to their workforce. Lyra Health's 2020 revenue was $100M. The next mental health startup to reach a billion dollar valuation was Calm in 2019. Based on Cognitive Behavioral Therapy principles, this immersive treatment model with ongoing support between sessions helps individuals improve faster. The biggest hurdle isn't treatmentit's access. 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. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 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. 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. Dragoneer led the round and was joined by new investor Salesforce Ventures along with existing investor Coatue. Investor Contact: Lyra currently serves more than 2.2 million members globally. Lyra currently serves more than 2.2 million members globally. . . For more information, visit lyrahealth.com and follow us on LinkedIn, Facebook, and Twitter. Chris Metinko. Lyra Health is getting attention because of its . "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 has 36 investors including Castlight Health, Providence, Castlight Health and Venrock Associates. Lyra Therapeutics, Inc. (Name of Registrant as Specified in its Charter) . 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. "The traditional mental health care system cannot address the critical needs people have today. Lyra Health acquired 1 company. 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. Lyra separately announced today it has acquired ICAS World, an employee assistance program provider with operations in more than 155 countries. Analyst Briefing Submitters are 7x more likely to receive a qualified connection. 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. and other contracted partners to be your Lyra Care Navigator Team and deliver clinical services. Lyra's approach to mental health care has been proven to help members improve or recover faster and reduce medical claims costs for employers. Coatue led the round and was joined by new investor Sands Capital, along with existing investors. Nearly 1 billion people worldwide suffer from a mental health disorder, yet more than 70% of people dont have access to the care they need. Lyra Health raised $187000000 on 2021-01-28 in Series E. Search Crunchbase. 646-655-8390 The data presented on this page does not represent the view of Lyra Health and its employees or that of Zippia. Lyra Health Investors. Competitors of Lyra Health include Spring Health, Twill, Strove, Valera Health, Alma, Brightline, Sanarai, TaskHuman, moka.care, Panda and 21 more. Dragoneer has a history of partnering with management teams growing exceptional companies characterized by sustainable differentiation and superior economic models. 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 has raised a total of $910.1M in funding over 8 rounds. (Annual sales and employees). 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. 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 . 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. Dragoneer is a growth-oriented investment firm with over $25 billion in long-duration capital. 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. Some, like San Francisco, Calif.-based Calm, valued at $2 billion, dont have a medical component. 22 Shares. 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. BURLINGAME, Calif., June 14, 2021 /PRNewswire/ -- Lyra Health, the leading provider of comprehensive mental health care benefits for employers, today announced . 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 also today announced the addition of Robynne Sisco to its Board of Directors. Developer of a digital health platform designed to transform mental health care through technology along with the human touch. After extensive research and analysis, Zippia's data science team found the following key financial metrics. Find related and similar companies as well as employees by title and much more. 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. Win whats next. Description. For more information, visit lyrahealth.com and follow us on LinkedIn, Facebook, and Twitter. Many mental health providers choose to operate out of insurance networks, since the reimbursement rates are so low. Lyra Health's valuation in June 2021 was $4,600M. Join us for Breakthrough, Lyras annual mental health conference, in San Francisco. Lyra is dedicated to redefining access to high-quality mental healthcare for both individuals and employers on a global scale, said Sisco. More than 83% of U.S. employees are experiencing mental health issues, according to research Lyra Health conducted in 2020 in partnership with the National Alliance of Healthcare Purchaser Coalitions. Lyra quickly connects members to an exclusive network of evidence-based providers, mental health coaches, digital wellness tools, and personalized medication programs. Comparatively, just 24% of people who receive care through traditional health plans demonstrate reliable clinical improvement. WATERTOWN, Mass. 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. We are delighted to enter into this strategic alliance with LianBio to expand the global reach of LYR-210 for millions of CRS patients who need new and innovative treatment alternatives to surgery, said Maria Palasis, Ph.D., CEO of Lyra. Company Type For Profit. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. Despite federal laws requiring mental health to be reimbursed at the same rates as physical illness, many people with insurance still face hurdles, from long wait times to denial of claims battles. Around one in four Americans dont have access to in-network therapists, according to the National Alliance on Mental Illness. 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. For more information, please visit www.lyratherapeutics.com and follow us on LinkedIn and Twitter. Sign up for a free trial to see Lyra Health's valuations in January 2022, January 2021, August 2020 and more. With Lyra, benefits leaders can offer employees fast, reliable access to providers who practice evidence-based mental health care treatments. Investors Dragoneer . 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. 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. 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. Their latest was a Series . Calm started out as a direct-to-consumer mindfulness app with guided meditations and soothing soundtracks. Elizabeth Anderson, VP Communications and Investor Relations 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. 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. Sisco is currently co-president and chief financial officer at Workday. and other contracted partners to be your Lyra Care Navigator Team and deliver clinical services. LYR-210 is designed as a non-invasive alternative to sinus surgery for the millions of CRS patients who have failed medical management. Lyra provides evidence-based care that supports people across all facets of mental health, from wellness and preventive care to the most severe conditions. The startups take different approaches to connecting users with mental health services. Headspace develops an online membership platform offering guided meditation and mindfulness. For more information, please visit www.lianbio.com. Lyra Health's latest funding round was a Series G for $235M on January 19, 2022. Pricing. It was founded in 2012 and is based in New York, New York. Crazy indeed. and our Code of Business Conduct and Ethics in the "Governance" section of the "Investors & News" page of our website located at www . For more information about Lyra Health's innovative mental health benefits for employers, visit lyrahealth.com. 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. Kathryn Morris 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 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. 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. A peer-reviewed study found Lyras Blended Care Therapy helped 83% of participants improve or recover from anxiety or depression. Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. 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. You can't just put a tool in an inequitable system and expect it to solve all of those inequities. With the new funding, Lyra plans to accelerate its delivery of evidence-based mental health benefits for companies with employees located around the world. 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? The Covid-19 pandemic and collective psychological fallout finally mainstreamed mental health. Learn more. "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.". ", "We are excited to welcome Robynne to our Board of Directors," said David Ebersman, Lyra Health CEO and co-founder. 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. "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. 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. Date Investors Percent Raised Target Size; January 28, 2021: 33: 100%: Jun 14, 2021, 08:00 ET. The mental health platform companies help connect users directly with therapists and other providers. Get the full list, Youre viewing 5 of 35 investors. PitchBooks comparison feature gives you a side-by-side look at key metrics for similar companies. 914-204-6412 Resources. 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. Resources. Lyra General Information. Solutions. Start Free Trial . 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. Join us for Breakthrough, Lyras annual mental health conference, in San Francisco. 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. 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. 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. None of the information on this page has been provided or approved by Lyra Health. About Lyra HealthLyra Health is the leading provider of Workforce Mental Health benefits, serving 10 million global employees and their dependents.
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