With the new funding, Lyra plans to accelerate its delivery of evidence-based mental health benefits for companies with employees located around the world. Copyright 2023 CB Information Services, Inc. All rights reserved. Who are Lyra Health's competitors? Lyra's approach to mental health care has been proven to help members improve or recover faster and reduce medical claims costs for employers. 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. Lyra Health has kept busy over the past year. Personalize which data points you want to see and create visualizations instantly. 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. 2023 Lyra Health, Inc. works in partnership with Lyra Clinical Associates P.C. Dragoneer has a history of partnering with management teams growing exceptional companies characterized by sustainable differentiation and superior economic models. Investors Security Type; CASTLIGHT HEALTH, INC. We are reaching out to the company and investors for a . Sign up for a free trial to see Lyra Health's valuations in January 2022, January 2021, August 2020 and more. Lyra Health's latest post-money valuation is from January 2022. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Lyra Health's deal structure is available for 7 funding rounds, including their Series G from January 19, 2022. according to the National Alliance on Mental Illness. "Lyra is dedicated to redefining access to high-quality mental healthcare for both individuals and employers on a global scale," said Sisco. The latest fundraising was led by investor hedge fund Coatue Management, with participation from new investor Sands Capital. 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 . . "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. The employee data is based on information from people who have self-reported their past or current employments at Lyra Health. 22 Shares. Theres also concern that the hyper focus on technology and virtual care is like putting lipstick on a pig. While the company may elect to update such forward-looking statements at some point in the future, it disclaims any obligation to do so, even if subsequent events cause its views to change. 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. Lyra Health's latest post-money valuation is from January 2022. Lyra Therapeutics, Inc. (Name of Registrant as Specified in its Charter) . Lyra Health acquired 1 company. The World Health Organization estimates that the loss in productivity due to depression and anxiety alone costs the global economy $1 trillion each year. Lyra Health's most recent revenue is from 2020. 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. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. LYR-210 is designed as a non-invasive alternative to sinus surgery for the millions of CRS patients who have failed medical management. Developer of a digital health platform designed to transform mental health care through technology along with the human touch. Some, like San Francisco, Calif.-based Calm, valued at $2 billion, dont have a medical component. "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.". 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 separately announced today it has acquired ICAS World, an employee assistance program provider with operations in more than 155 countries. Lyra Therapeutics: Investor Contact: Argot Partners 212-600-1902 Lyra@argopartners.com Media Contact: Kathryn Morris 914-204-6412 kathryn@theyatesnetwork.com LianBio Investor Contact: Elizabeth . For more information, visit lyrahealth.com and follow us on LinkedIn, Facebook, and Twitter. Lyras XTreo platform is comprised of a biocompatible mesh scaffold, an engineered elastomeric matrix and a versatile polymer-drug complex. . from 8 AM - 9 PM ET. "The traditional mental health care system cannot address the critical needs people have today. Spring Health provides personalized mental healthcare for employees' well-being. In 2016, more than half of the counties in the U.S. didnt have a single psychiatrist. The World Health Organization estimates that the loss in productivity due to depression and anxiety alone costs the global economy $1 trillion each year. /PRNewswire/ -- Lyra Health, the leading provider of innovative Workforce Mental Health solutions for employers, today announced it has completed a $235M . 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. Coatue led the round and was joined by new investor Sands Capital, along with existing investors. 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. 2023 Lyra Health, Inc. works in partnership with Lyra Clinical Associates P.C. Investor Contact: 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. 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. Funding, Valuation & Revenue. Note: Lyra Health's revenues are gauged from an analysis of company filings. 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. Join us for Breakthrough, Lyras annual mental health conference, in San Francisco. 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. You can access direct insights and strategies from . Analyst Briefing Submitters are 7x more likely to receive a qualified connection. Lyra's matching technology and innovative digital platform connect members to a curated network of top . Media Contact: When typing in this field, a list of search results will appear and be automatically updated as you type. Gold recognizes that the U.S. mental healthcare system is broken and is all for getting vulnerable patients the help they need. 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. site you are consenting to these choices. (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.) 2023 PitchBook. Lyra provides evidence-based care that supports people across all facets of mental health, from wellness and preventive care to the most severe conditions. Robynne Sisco Joins Board of DirectorsLyra also today announced the addition of Robynne Sisco to its Board of Directors. The company was founded in 2017 and is based in San Francisco, California. Company Type For Profit. Get the full list, Youre viewing 5 of 10 board members. 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. For more information, please visit www.lianbio.com. From 2016 to 2018, she served as a professor at the Center for Innovation for Global Health at Stanford University. 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.. Chris Metinko. 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. The platform offers scientifically-backed tools and training for healthier, happier, more human organizations. Fidelity Management and Research Company Durable Capital Partners Baillie Gifford 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. Lyra Health. 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. 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. When typing in this field, a list of search results will appear and be automatically updated as you type. 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. With Lyra, benefits leaders can offer employees fast, reliable access to providers who practice evidence-based mental health care treatments. 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. Partners . Lyra Health revenue is $9.3M annually. In 2019, around 11% of U.S. adults reported experiencing symptoms of anxiety or depression, which skyrocketed to 42% by December 2020. Solutions. 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. Products. Resources. In the LANTERN Phase 2 clinical trial, LYR-210 (7500mcg) demonstrated rapid, clinically meaningful and durable symptom improvement in symptom scores over six months. This is the only company I've ever worked with, where we don't have to do marketing, says Kocher. 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. 212-600-1902 Theres also the question of what might be lost if the majority of mental health visits shift online. 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 . Lyra quickly connects members to an exclusive network of evidence-based providers, mental health coaches, digital wellness tools, and personalized medication programs. 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. Lyra Therapeutics: You can read more about your cookie choices at our privacy policyhere. Contact:Kaitlin Rebella[emailprotected](248) 318-4303, Cision Distribution 888-776-0942 For more information, visit lyrahealth.com and follow us onLinkedIn, Facebook, and Twitter. Crazy indeed. But venture capital-backed technology startups alone wont solve the complicated morass of weak insurance coverage, crazy administrative hoops for patients in distress and clinicians burned out from carrying the weight of Americas pain. 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. Their latest acquisition was ICAS World on January 19, 2022. The publication initially broke the news back in May, according to two people familiar with the deal. 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. Modern Health operates as a mental health benefits platform for employers. 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. 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. Find related and similar companies as well as employees by title and much more. Lyra Health is the leading provider of Workforce Mental Health benefits, serving 10 million global employees and their dependents. 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. and other contracted partners to be your Lyra Care Navigator Team and deliver clinical services. You can't just put a tool in an inequitable system and expect it to solve all of those inequities. 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 Health takes a personalized approach to mental healthcare, ensuring that every member has access to self-help resources, coaches, and therapists, whenever they need them. The digital behavioral-health-benefits platform Lyra Health announced today the closing of its Series E funding round worth $187 million. Contact:Dyani Vanderhorst[emailprotected]m (650) 240-3240, Cision Distribution 888-776-0942 The firms track record includes public and private investments across industries and geographies, with a particular focus on technology-enabled businesses. Lyra also today announced the addition of Robynne Sisco to its Board of Directors. Around one in four Americans dont have access to in-network therapists, according to the National Alliance on Mental Illness. None of the information on this page has been provided or approved by Lyra Health. In 2020, peer-reviewed Lyra research demonstrated the effectiveness of the Blended Care treatment program for clients with depression and anxiety. 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. By year-end, venture investors poured a record-setting $1.5 billion into mental health-related startups. 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. 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. 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.. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. 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 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. For more information about Lyra Health's innovative mental health benefits for employers, visitlyrahealth.com. 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. 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? Company appoints Robynne Sisco to Board of Directors. Learn more. 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. The additional funds bring its total amount raised to more than $480 million and the company valuation to approximately $2.3 billion, according to a Lyra spokesperson.