The platform offers scientifically-backed tools and training for healthier, happier, more human organizations. Get the full list, To view Lyras complete patent history, request access, Youre viewing 5 of 16 executive team members. There were 124 deals last year, compared to 69 deals in 2016. In the LANTERN Phase 2 clinical trial, LYR-210 (7500mcg) demonstrated rapid, clinically meaningful and durable symptom improvement in symptom scores over six months. Tyler Gagnon, CanaleComm Lyra is trusted by leading companies, including Genentech, a member of the Roche Group; Uber; and VCA Animal Hospitals. 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. 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. Lyra Health has 750 employees, and the revenue per employee ratio is $12,400. Kathryn Morris Lyra 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's matching technology and innovative digital platform connect members to a curated network of top . Investor Contact: 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. (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.) Media Contact: January 21, 2022. Solutions. 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. 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 Therapeutics, Inc. (Name of Registrant as Specified in its Charter) . From 2016 to 2018, she served as a professor at the Center for Innovation for Global Health at Stanford University. Lyra 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 . 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. For more information, visit lyrahealth.com and follow us onLinkedIn, Facebook, and Twitter. 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. Description. CBI websites generally use certain cookies to enable better interactions with our sites and services. Thats due to a combination of stigma, cost and access issues, coupled with a growing shortage of mental health providers. 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. LYR-210 is an investigational product candidate that utilizes Lyras proprietary XTreo platform to enable six months of local anti-inflammatory therapy from a single treatment for chronic rhinosinusitis (CRS). 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. Their latest was a Series . Claim your profile to get in front of buyers, investors, and analysts. . Investor Contact: Lyra Health has 22 investors. 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. 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 . The round was led by Addition and had . Lyra separately announced today new plans to enhance its international solutions. Personalize which data points you want to see and create visualizations instantly. Apr 18, 2022. 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 revenue is $9.3M annually. The startups take different approaches to connecting users with mental health services. "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. Company appoints Robynne Sisco to Board of Directors. ", "We are excited to welcome Robynne to our Board of Directors," said David Ebersman, Lyra Health CEO and co-founder. Dragoneer led the round and was joined by new investor Salesforce Ventures along with existing investor Coatue. 2023 Lyra Health, Inc. works in partnership with Lyra Clinical Associates P.C. Coatue led the round and was joined by new investor Sands Capital, along with existing investors. The latest fundraising was led by investor hedge fund Coatue Management, with participation from new investor Sands Capital. Find related and similar companies as well as employees by title and much more. Sisco is currently co-president and chief financial officer at Workday. With the new funding, Lyra plans to accelerate . Lyra Health raised $187000000 on 2021-01-28 in Series E. Search Crunchbase. Dragoneer led the round and was joined by new investor Salesforce Ventures along with existing investor Coatue. Additionally, 40% of workers feel employers don't support their mental health. 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 the new funding, Lyra plans to accelerate its delivery of evidence-based mental health benefits for companies with employees located around the world. 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. 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. Lyra Health has raised a total of $910.1M in funding over 8 rounds. The Covid-19 pandemic and collective psychological fallout finally mainstreamed mental 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. 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. "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. And then everything went crazy.. Based on Cognitive Behavioral Therapy principles, this immersive treatment model with ongoing support between sessions helps individuals improve faster. Coatue led the round and was joined by new investor Sands Capital, along with existing investors. You can access direct insights and strategies from . 212-600-1902 Elizabeth Anderson, VP Communications and Investor Relations 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. Learn more. . 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. Sisco is currently co-president and chief financial officer at Workday. This new funding will help Lyra deliver comprehensive and culturally responsive mental health care for organizations and their employees and families," said Ebersman. Jun 14, 2021, 08:00 ET. Get the full list, Youre viewing 5 of 35 investors. 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. Company Type For Profit. I hope that the interest in mental health is now persistent, Suennen says. 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. 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. In 2019, around 11% of U.S. adults reported experiencing symptoms of anxiety or depression, which skyrocketed to 42% by December 2020. In April, KKR acquired a majority interest in the mental health electronic records software company Therapy Brands for an undisclosed amount. 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. We are reaching out to the company and investors for a . Lyra separately announced today it has acquired ICAS World, an employee assistance program provider with operations in more than 155 countries. When typing in this field, a list of search results will appear and be automatically updated as you type. 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. . "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. BURLINGAME, Calif, Jan. 28, 2021 /PRNewswire/ -- Lyra Health, the leading provider of comprehensive mental health care benefits for employers, today announced a Series E . To ensure the most secure and best overall experience on our website, we recommend the latest versions of. This new funding will help Lyra deliver comprehensive and culturally responsive mental health care for organizations and their employees and families, said Ebersman. "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. You can read more about your cookie choices at our privacy policyhere. Jan 28, 2021, 08:00 ET. from 8 AM - 9 PM ET. I'm a senior writer covering healthcare technology. The mental health platform companies help connect users directly with therapists and other providers. With Lyra, benefits leaders can offer employees fast, reliable access to providers who practice evidence-based mental health care treatments. 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.. 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. 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. and other contracted partners to be your Lyra Care Navigator Team and deliver clinical services. These investors may include private investors, venture capital firms, or other investment vehicles. 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. 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.