The Blended Care Model was (is) hugely successful for clients seeking services. When comparing Lyra to its top 100 alternatives, Lyra has the highest rating, with CoreHealth Technologies and Savology coming in 2nd and 3rd. This year, it expects to bring in … But on the flip side, both employees and employers are asking for help. “We believe here that mental health is one of the defining problems of our time,” said Ebersman. “The moment is now to offer better mental health services.”, Full coverage and live updates on the Coronavirus, I am a staff writer at Forbes covering healthcare, with a focus on digital health and new technologies. Lyra Health cofounder and CEO David Ebersman. View real-time stock prices and stock quotes for a full financial overview. I was previously a healthcare reporter for POLITICO covering the. “You need to use technology to drive scalability without also losing the kind of personalization and the human touch,” says Bremner. Lyra cofounder and CEO David Ebersman says customers are looking to launch the platform right away, instead of waiting for the typical January 1 fiscal year cycle for health benefits. lyra health crunchbase, Health – the health effects from inhaling fine particulates (from fires) alone are: lung cancer, stroke, dementia, type two diabetes, and heart disease. Lyra is transforming mental health care through technology with a human touch to help people feel emotionally healthy at work and at home. How much revenue does Lyra generate? Lyra Health Hits $1.1 Billion Valuation, As Coronavirus Boosts Need For Teletherap y. In the United States 50 million people suffer from mental health issues every year. “The average person when starting care in 2020 is feeling more anxious and more depressed than we've seen in any prior year,” says Ebersman. All Rights Reserved, This is a BETA experience. Untreated mental health conditions can lead to lower productivity and morale that can affect the overall work environment. I am a staff writer covering healthcare. Japan Hit by 7.3-Magnitude Earthquake Off Fukushima, Warren Buffett’s Favorite Valuation Metric Is Ringing an Alarm, The King of SPACs Wants You to Know He’s the Next Warren Buffett, Dogecoin’s Creator Is Baffled by Meteoric Rise to $9 Billion, Cathie Wood Risks Having Too Much Money and Not Enough Stocks. With Lyra, members can easily book appointments in just a few clicks. “We intentionally named our program Lyra Mental Wellness to help reduce the stigma around seeking mental health care,” the company said in a statement. It truly is a team work atmosphere. And the startup's unicorn status will likely cement its position as a frontrunner to attract more deals. Sr. Analyst, Allocation and Fleet Operations, Sales Operations Tesla. Lyra’s co-founder and CEO, David Ebersman, left his job as Facebook’s Chief Financial Officer in 2014 to tackle the problem by making it easier to find and get treatment and using technology to make it smarter, more personalized, and effective. Independence – you know you can get any job you want, and you choose to make a difference. San Francisco Bay Area. Lyra has raised around $275 million to date. Lyra Health's main competitors include Livongo, Solera Health, Anxiety Boss and Conscious. 47 Lyra Health reviews. Lyra, which offers an easy-to-use digital platform to connect people with mental health providers, has around 1.5 million members so far, adding more than 800,000 people since the start of the pandemic. Five years later, Lyra is rapidly expanding, and by the end of this month expects to have delivered it’s one-millionth session. One huge benefit with Lyra is you are an employee and have access to more benefits and … This means international expansion and investment in more clinical services, as well as expanding the company’s market segment beyond large employers and aiming at government and commercial health plans. ... WELL Health To Acquire CRH Medical - Quick Facts Lyra Health projects it will hit more than $100 million in revenue by the end of the year, and the latest funding round brings its valuation north of $1 billion, according to a company representative. The company counts a wide range of industries among its client base, ranging from Morgan Stanley to Zoom Video Communications. Lyra is transforming mental health care through technology with a human touch to help people feel emotionally healthy at work and at home. Mental-health startup Lyra Health raised $75 million from venture capital firm IVP and others on Wednesday. The employees, from the CEO all the way down, believe in this model and the services they provide. Lyra generates $100M in revenue; How much funding does Lyra have? “I think what we’ve discovered is employers are really ready to invest in mental health-care solutions.”. I am a staff writer at Forbes covering healthcare, with a focus on digital health and new technologies. Lyra Health earns unicorn status at $1.1 billion valuation. View Lyra Health (www.lyrahealth.com) location in California, United States , revenue, industry and description. Lyra helps companies improve access to effective, high-quality mental health care for their employees. Using matching technology and an innovative digital platform, Lyra connects companies and their employees–plus spouses and children–to world-class therapists, mental health coaches, and personalized medication prescribing. He later jumped to Facebook, where he served as CFO, as well as a board member for Castlight Health. Lyra also announced that Kerry Chandler, chief human resources office at the global entertainment and sports company Endeavor, would join the board of directors. Walgreens Revealed As Investor In Subsidiary Of Health Insurance Company Under Federal Investigation, Jeff Bezos Was Never The Future Of Amazon Health, ‘Planet Lockdown’ Film Spreading Unfounded Claims About Covid-19 Vaccines And Coronavirus, Mark Cuban’s Generic Drug Company Has Disruptive Potential In Niche Markets, Covid-19 Could End Up Like The Flu—Or Worse, Zocdoc, Growing As Vaccine Appointment Scheduler, Raises $150 Million. Lyra Health Hits $1.1 Billion Valuation, As Coronavirus Boosts Need For Teletherapy Email me at kjennings@forbes.com or find me on Twitter @katiedjennings. Lyra is an employee wellness solution that enables employees to receive care for their emotional and mental well-being. This year, it expects to bring in more than $100 million in revenue, based on funds currently under contract. Lyra's matching technology and innovative digital platform connect members to a curated network of top therapists and coaches, which results in 3x more people receiving care and 7x better outcomes than traditional plans and EAPs. As reported by Forbes, Lyra Health was set to bring in around $100 million in revenue by the end of the year at the time of its prior fundraise.. EAPs engage 2-3% of members, while Lyra sees 15% of employees sign up for care. Lyra now has about 35 corporate customers, and it helped about 40,000 people find care last year, Ebersman said. A study published in the Journal of Medical Internet Research, led by Lyra’s director of clinical product Anita Lungu, recorded a significant decrease in anxiety or depression symptoms after 5 sessions among 385 patients, although it did not include a control group. Revenue Operations Manager Lyra Health. “It feels different right now,” he says. All content is posted anonymously by employees working at Lyra Health. Promoting Exercise Through Gamification-Making Physical Activity More Fun? While a randomized controlled trial would be needed to truly determine clinical effectiveness, the study suggests that Lyra’s teletherapy model could potentially achieve faster results than the typical 12 to 16 weeks of standard treatment. Around one in four U.S. adults suffer from a diagnosable mental health condition and depression is one of the leading causes of disability worldwide. Acuity Scheduling has the most reviews with a total of 4,458, while Lyra has 1. Developer of a digital health platform designed to transform mental health care through technology with the human touch. Jan 2020 – Present 1 month. In 2015, Ebersman cofounded Lyra Health with two Venrock partners and Castlight investors, Bob Kocher and Bryan Roberts, as well as Dena Bravata, Castlight’s chief medical officer. Lyra Health provides mental health benefits for more than 1 million U.S. employees and dependents. While the regular Lyra health benefit offers services for the whole family, the next step will be using this latest funding round to expand the Blended Care model to include services both for adolescents and couples. Lyra Health, a mental health therapy benefit company for employers, closed an additional $187 million in a Series E round led by Addition Capital. “We want to be able to offer targeted and effective approaches to everyone,” says Ebersman. Kocher and Roberts continue to serve on the board, while Bravata left the company. Talkspace and RXNT stand out as its top competitors based on similarity, popularity and user reviews. Email me at kjennings@forbes.com. We work with industry leaders, such as Morgan Stanley, Starbucks, uber, Amgen, and other Fortune 500 companies, to improve access to effective, high-quality mental health care for their employees and their families. Company profile page for Lyra Health Inc including stock price, company news, press releases, executives, board members, and contact information These include Ginger, Big Health, TalkSpace, Livongo, Omada, Lyra Health, and Modern Health, to name just a few. Lyra Health is hands down the best place to work. I was previously a healthcare reporter for POLITICO covering the European Union from Brussels and the New Jersey Statehouse from Trenton. That’s where one of Lyra’s flagship products comes in: Blended Care. Since then, a spokesperson says the biotech has seen a sevenfold increase in the use of its employee assistance program. As employers grapple with the fallout of the coronavirus pandemic, there’s a reckoning taking place in human resources departments around the country: the need for better mental healthcare for employees. Lee Fixel’s new venture firm Addition led the round and was joined by Adams Street Partners, along with existing investors, including former Starbucks CEO Howard Schultz, Casdin Capital, Glynn Capital, Greylock Partners, IVP, Meritech Capital Partners, Providence Ventures and Tenaya Capital. The biggest hurdle isn’t treatment—it’s access. You may opt-out by. Lyra previously raised about $100 million and was valued at about $241 million, according to PitchBook. Pay at Lyra Health is significantly lower than some of its highest paying competitors, like Virtru, Castlight Health, and Zimperium, which pay $108,247, $108,077, and $102,394, respectively. Lyra Health landed a series C financing round of $75 million back in March 2020 and then an additional ... Lyra Health projected it would hit more than $100 million in revenue by the end of 2020. Lyra Chief Executive Officer David Ebersman, who previously served as a top executive at Genentech and Facebook Inc., said the company offers a way to get care that “doesn’t feel slow and difficult.” Customers are able to see the difference in their workforce, he said. It plans to use the latest infusion of capital to expand its reach, network of providers and technology platform, Ebersman said. Smarter mental health benefits, better outcomes 7x more members receive effective care. What is Lyra? Lyra Health, which provides mental health benefits for large employers, became the latest healthcare technology startup to hit unicorn status on Tuesday, following a $110 million Series D round. © 2021 Forbes Media LLC. You are not beholden to money as the primary motivator. That effectively means the startup doubled its valuation in a handful of months, suggesting rapid growth or key validation. LYRA | Complete Lyra Therapeutics Inc. stock news by MarketWatch. I was a 2019-2020 Knight-Bagehot Fellow in business and economics reporting at Columbia University. This traction is possible because mental health has arisen as one of the top concerns of employers. 83% of members improve or recover lyra health crunchbase, Lyra Health - Crunchbase Company Profile & Funding Crunchbase.com Contact Email [email protected] Phone Number 1 (877) 505-7147 Lyra helps companies improve access to effective, high-quality mental health care for their employees. Insider Intelligence publishes hundreds of insights, charts, and forecasts on the Digital Health industry with the … The solution uses screening tools to identify people at risk of behavioral health issues and then engages with them to provide care services. The $110 million Series D raise comes on the heels of a $75 million Series C closed in March. The service connects workers with care providers like therapists and mental-health coaches. Many of today’s high-traction mental health startups obtain a large portion of their revenue through employers. One of the biggest challenges in the $280 billion behavioral health market is access, given that “only a fraction of the people that actually need care, get it,” says Thomas Bremner, partner at Adams Street Partners. Lyra is an alumnus of this year’s Forbes Next Billion-Dollar Startups list and is the third company from the 2020 list to cross the $1 billion dollar valuation mark, along with AI-powered sales startup Gong and human resources software automation company Rippling. Lyra’s solution combines one-on-one video sessions with digital exercises to reinforce cognitive behavioral therapy lessons. Mental health startup Lyra Health closed a Series D funding round Aug. 25 that boosted its valuation to $1.1 billion, earning it unicorn status.. Using technology to solve healthcare problems is a natural fit for Ebersman, who spent fifteen years in various executive roles at the biotechnology Genentech, including chief financial officer. Around 50 million people in the U.S. have a mental health condition, and the Covid-19 pandemic is exacerbating two of the most common: anxiety and depression. I have also written for the Los Angeles Times and Business Insider. I have been at Lyra for about a year and have to say that it's been a breath of fresh air compared to another telehealth platform I came from as a contract therapist. The company declined to provide its current valuation. Glassdoor gives you an inside look at what it's like to work at Lyra Health, including salaries, reviews, office photos, and more. Non-GAAP net loss for Q4, 2020, widened to $9.8 million from $2.3 million in the year-ago quarter. Lyra Therapeutics Inc. is up ... reporting Q4, 2020 revenue of $44.6 million, up from $32.4 million in the fourth quarter of 2019. This year, it expects to bring in more than $100 million in revenue, based on funds currently under contract.

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