What You Ought to Know:
– Lyra Well being simply introduced one other huge funding spherical of $187M, bringing its whole to roughly $462 million and the valuation to roughly $2.3 billion.
– The corporate, which beforehand raised a collection D spherical in August of $110M at a valuation barely above $1 billion has now greater than doubled in worth.
– Lyra Well being additionally introduced a brand new partnership with world advantages firm ICAS, which now permits it to supply some stage of psychological well being parity to workers at a world scale.
Lyra Well being, a Burlingame, CA-based supplier of psychological healthcare advantages for employers, at the moment introduced a Collection E financing spherical of $187 million led by Addition together with new traders Sturdy Capital Companions LP, Constancy Administration & Analysis Firm, and Baillie Gifford, and present traders. This financing will allow Lyra to additional develop its investments in pioneering tech-enabled psychological well being care, a rising and numerous supplier community, and new partnerships to help the world’s largest world organizations. That newest spherical of funding brings Lyra’s whole funding to this point at $462M, bringing its valuation to roughly $2.3B.
Smarter Psychological Well being Advantages, Higher Outcomes
Accessing and receiving psychological healthcare is notoriously difficult for a lot of Individuals at the moment. Value, social stigma, and navigating the psychological well being system make it daunting for people to get the care they want. Greater than 83% of U.S. workers are experiencing psychological well being points, in line with analysis Lyra Well being carried out in 2020 in partnership with the Nationwide Alliance of Healthcare Purchaser Coalitions. Moreover, 40% of employees really feel employers don’t help their psychological well being.
Based in 2015, Lyra connects workers to top quality, efficient psychological well being suppliers, and provides workers the pliability of in-person care, dwell video remedy, and digital self-care instruments. Lyra’s therapists solely apply evidence-based therapies, like Cognitive Behavioral Remedy (CBT), and can be found for appointments in just some days.
Tech-Enabled Psychological Well being Backed by Science
Lyra additionally continues to pioneer new evidence-based, technology-enabled psychological well being options that speed up entry to care and match members to clinically confirmed packages that prioritize quick and sturdy symptom enchancment. In 2020, the corporate launched Lyra Blended Care, which pairs video remedy classes with customized digital classes and workouts primarily based on Cognitive Behavioral Remedy (CBT) ideas. Lyra Blended Care is scalable and extensible, leveraging know-how to ship higher care high quality and scientific outcomes, whereas lowering the price of care. In 2020, peer-reviewed Lyra analysis demonstrated the effectiveness of the Blended Care therapy program for purchasers with despair and nervousness. Lyra plans to proceed increasing Blended Care to serve a variety of members and psychological well being challenges.
Current Traction/Milestones
Lyra greater than doubled its buyer base in 2020 and prolonged its companies to help greater than 2 million members with complete psychological well being care. Lyra prospects embrace Genentech, a member of the Roche Group; Morgan Stanley; Zoom Video Communications; and dozens of the world’s largest, most revered manufacturers.
Lyra additionally introduced a partnership with Calm, the highest psychological health and resilience software, with greater than 90 million downloads to this point. Via the partnership, Lyra is making it simpler for employers to supply a variety of psychological well being instruments from a single platform.
“2020 put the necessity for psychological well being care transformation in sharp focus, as extra individuals sought assist throughout these extraordinary and tough occasions,” stated David Ebersman, Lyra Well being CEO and co-founder. “The normal psychological well being care system can’t tackle the essential wants individuals have at the moment. Lyra is now in a position to immediately help greater than 2 million members as we allow employers to supply their individuals straightforward, efficient entry to clinically confirmed psychological well being care. This newest financing spherical will permit Lyra to proceed to develop new and revolutionary care options whereas reaching new prospects and members.”
Partnership with ICAS World to Ship Complete Psychological Well being Care Globally
As well as, the funding, Lyra introduced a partnership with ICAS World to help members in additional than 180 nations. ICAS is a world worker help program (EAP) supplier with operations in additional than 43 in-country places of work, protecting 2,400 organizations and 4.5 million individuals. The partnership will allow main firms to supply entry to high quality, complete psychological well being care for his or her workers all over the world.
“ICAS is proud to mix our strong community and native suppliers with Lyra’s revolutionary strategy to delivering psychological well being care,” stated Andrew Davies, CEO of ICAS World. “Our joint efforts ship a strong help system for firms and their workers all over the world, elevating the extent of entry and care to match the accelerating demand worldwide.”