Employer-concentrated behavioral health startup Lyra scores $200M

Lyra Health, a behavioral health gains system for employers, shared today it has closed a $200 million funding round led by Coatue. Sands Funds and the company’s present buyers also participated in the elevate.

This elevate delivers Lyra’s overall funding to date to $680 million and values the firm at $4.2 billion, in accordance to a enterprise spokesperson.

WHAT IT DOES

Presented as a health reward, the Lyra system matches workforce and their dependents to mental healthcare experts and customized evidence-based treatment options. Users can opt for the care selections that do the job ideal for them, irrespective of whether via in-particular person visits, video clip classes, 1-to-one particular messaging or electronic pursuits.

Working with principles from cognitive behavioral therapy, the system combines time invested with healthcare pros with ongoing support involving periods to assist buyers development. Lyra also tracks users’ development to enable suppliers personalize treatment and to give companies a inhabitants check out of their workers’ wellbeing.

Lyra offers shopper businesses these as eBay and Uber and suggests it has much more than 2.2 million customers globally.

WHAT It is FOR

Developing off its recent partnership with ICAS Entire world, Lyra is working with the new funds to assistance the start of its new intercontinental services alternatives.

“Just one in five persons wrestle with mental health problems these kinds of as anxiousness, despair, or substance use condition,” David Ebersman, Lyra Health CEO and cofounder, said in a assertion.

“Delivering mental health treatment for numerous worker populations all over the entire world is a single of the most urgent and complex issues for businesses these days, and this new funding will assistance Lyra accelerate our plans to deliver detailed, world-wide alternatives.”

Also declared these days, Lyra is launching a slew of new offerings for their world-wide associates across much more than 180 countries.

The enterprise has developed a unified platform for its global users as a spot to obtain all of Lyra’s treatment selections and services, such as preventive care, mental health coaching, therapy and treatment.

Within just the new system will be Lyra’s preventive mental health assets referred to as Lyra Essentials. These include things like digital applications that include matters these as parenting, tension, snooze, conquering setbacks, connection challenges and thriving at do the job.

Lyra is also increasing its mental health coaching sessions to worldwide members, which will be available by means of the new platform.

All of the new offerings will be accessible in 2022, according to the announcement.

Sector SNAPSHOT

There are a selection of other mental health platforms for staff members, which include Fashionable Health, Happify Health, Vida Health and Unmind.

On-demand behavioral health platform Ginger a short while ago teamed up with Cigna to give the company’s 14 million users obtain to Ginger’s behavioral health coaching, remedy and psychiatry expert services as an in-community profit.

ON THE Document

“Powerful mental health options should be thorough and include preventive treatment as well as assist for additional critical and urgent challenges. Powerful care ought to also be culturally responsive, which calls for strategies that are both of those proof-based and hyperlocal, addressing the special wants of people where they live,” Dr. Connie Chen, chief functioning officer at Lyra Health, mentioned in a statement.

“Lyra is extending our demonstrated strategies to mental health treatment for corporations with individuals primarily based around the world, and we appear ahead to delivering meaningful support and care to those staff and their families.”