"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. In 2019, around 11% of U.S. adults reported experiencing symptoms of anxiety or depression, which skyrocketed to 42% by December 2020. For more information, visit lyrahealth.com and follow us on LinkedIn, Facebook, and Twitter. Lyra Health Hits $1.1 Billion Valuation, As Coronavirus Boosts - Forbes Lyra helps companies improve access to effective, high-quality mental health care for their employees. 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.. The biggest hurdle isn't treatmentit's access. "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. BURLINGAME, Calif. , Jan. 19, 2022. 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. 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. Some of these valuations are beyond appropriate given the underlying fundamentals, Suennen says. 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. Investor Name . Start Free Trial . Their latest was a Series . Lyra Health Completes $235M Funding Round, led by Dragoneer, to Fuel Coatue led the round and was joined by new investor Sands Capital, along with existing investors. Any such forward-looking statements represent managements estimates as of the date of this press release. For more information, please visit www.lianbio.com. The employee data is based on information from people who have self-reported their past or current employments at Lyra Health. Lyra Health makes $25,479 in a day. Argot Partners The data presented on this page does not represent the view of Lyra Health and its employees or that of Zippia. Copyright 2023 CB Information Services, Inc. All rights reserved. The latest fundraising was led by investor hedge fund Coatue Management, with participation from new investor Sands Capital. Get the full list, Youre viewing 5 of 35 investors. Lyra Health peak revenue was $9.3M in 2022. Around one in four Americans dont have access to in-network therapists, according to the National Alliance on Mental Illness. 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. 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. 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. 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. 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. 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. Revenue: $100 to $500 million (USD) Competitors: Unknown. 2015. 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. Lyra Health's deal structure is available for 7 funding rounds, including their Series G from January 19, 2022. 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. Funding, Valuation & Revenue. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. 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. CBI websites generally use certain cookies to enable better interactions with our sites and services. For more information, visit lyrahealth.com and follow us on LinkedIn, Facebook, and Twitter. Get the full list, To view Lyras complete acquisitions history, request access, To view Lyras complete subsidiaries history, request access, Morningstar Institutional Equity Research. View Lyra Health (www.lyrahealth.com) location in California, United States , revenue, industry and description. Sign up for a free trial to see Lyra Health's valuations in January 2022, January 2021, August 2020 and more. Press | Lyra Health Transforming Access to Mental Health Care Around the WorldNearly 1 billion people worldwide suffer from a mental health disorder, yet more than 70% of people don't have access to the care they need. Comparatively, just 24% of people who receive care through traditional health plans demonstrate reliable clinical improvement. 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 Therapeutics, Inc. (Name of Registrant as Specified in its Charter) . Lyra Health doubles customers, expands to serve more than 2 million members. From 2016 to 2018, she served as a professor at the Center for Innovation for Global Health at Stanford University. With Lyra, benefits leaders can offer employees fast, reliable access to providers who practice evidence-based mental health care treatments. A peer-reviewed study found Lyras Blended Care Therapy helped 83% of participants improve or recover from anxiety or depression. 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. Existing partners also participated in the funding round. Lyra Health has raised around $910 million in funding over 8 rounds from investors like Salesforce Ventures, Coatue, and Emerson Collective. 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 is funded by 35 investors. Who are Lyra Health's competitors? Lyra currently serves more than 2.2 million members globally. A peer-reviewed study found Lyra's Blended Care Therapy helped 83% of participants improve or recover from anxiety or depression. Apr 18, 2022. Find related and similar companies as well as employees by title and much more. 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. For more information about Lyra Health's innovative mental health benefits for employers, visitlyrahealth.com. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. 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. Additionally, 40% of workers feel employers don't support their mental health. 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. . Tyler Gagnon, CanaleComm In 2020, peer-reviewed Lyra research demonstrated the effectiveness of the Blended Care treatment program for clients with depression and anxiety. LianBio Leading self-insured employers partner with Lyra to tailor value-driven mental health benefits programs specific to their workforce. Number of Investors 4. LifeStance Health Group, an outpatient mental health provider backed by investment firm TPG Capital, announced plans this month to go public at an estimated more than $6 billion valuation. Many of these startups partner with research institutions to publish studies, but no one has performed a head-to-head comparison of the market. Based on Cognitive Behavioral Therapy principles, this immersive treatment model with ongoing support between sessions helps individuals improve faster. BURLINGAME, Calif, Jan. 28, 2021 /PRNewswire/ -- Lyra Health, the leading provider of comprehensive mental health care benefits for employers, today announced a Series E . 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. Coatue led the round and was joined by new investor Sands Capital, along with existing investors. For more information about Lyra Health's innovative mental health benefits for employers, visit lyrahealth.com. & SHANGHAI & PRINCETON, N.J.--(BUSINESS WIRE)--Lyra Therapeutics, Inc. (Nasdaq: LYRA), a clinical-stage therapeutics company leveraging its proprietary XTreo platform to enable precise, sustained, and local delivery of medications to ear, nose and throat (ENT) passages and other diseased tissues, and LianBio, a biotechnology company dedicated to bringing paradigm-shifting medicines to patients in China and other major Asian markets, today announced a strategic partnership and exclusive license agreement for the development and commercialization of LYR-210 in Greater China (mainland China, Hong Kong, Taiwan, and Macau), South Korea, Singapore and Thailand. Sign up for a free trial to see Lyra Health's valuations in January 2022, January 2021, August 2020 and more. That speaks to how hard access has been for most people for most of their life.. 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. Lyra separately announced today it has acquired ICAS World, an employee assistance program provider with operations in more than 155 countries. 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. 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. from 8 AM - 9 PM ET. LianBio will be responsible for the clinical development and commercialization of LYR-210 in the licensed territories, and Lyra will retain all rights to LYR-210 in all other geographies. Benefits Unicorn Lyra Health Raises $200M Series F at $4.6B Valuation Investor Contact: 22 Shares. 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. Lyra Health Investors. 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. Dragoneer has a history of partnering with management teams growing exceptional companies characterized by sustainable differentiation and superior economic models. Lyra Health now worth $2.3B on heels of massive funding round 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. 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 . 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. Dragoneer led the round and was joined by new investor Salesforce Ventures along with existing investor Coatue. 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). We heard from HR and benefits leaders, benefits consultants, and Lyra experts on top-of-mind issues for mental health in the workplace. 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. Personalize which data points you want to see and create visualizations instantly. 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.
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