About Lyra Health
Lyra Health offers mental health care services through a digital platform, primarily targeting businesses that want to support their employees. The company connects employees with a network of over 20,000 vetted mental health providers, offering services like therapy, coaching, and self-guided programs, accessible in-person or online. What sets Lyra Health apart is its concierge model, which provides personalized care and 24/7 support from care navigators. The goal is to improve employee wellness while helping businesses reduce healthcare costs.
Burlingame, CaliforniaHeadquarters
2015Year Founded
$671.3MTotal Funding
SERIES_FCompany Stage
Social Impact, HealthcareIndustries
1,001-5,000Employees
Benefits
Lyra for Lyrians - Full access to Lyra’s mental health services for employees and their eligible dependents—at no charge
Health benefits - Comprehensive medical, dental, and vision benefits, along with a free monthly membership to One Medical
Financial rewards - Generous compensation, 401k, and equity options
Paid time off - Guilt-free time to unwind and recharge, including four weeks of vacation and paid holidays
Tech stipend - Monthly stipend to spend on technology needs
Snacks & meals - Monthly Uber Eats and NatureBox credits to nourish body and mind
Risks
Increased competition from platforms like Ginger and Headspace Health.
Potential regulatory scrutiny over data privacy concerns with digital platforms.
Economic downturns may lead to reduced corporate spending on employee benefits.
Differentiation
Lyra Health offers a concierge member experience with personalized mental health care.
The company has a global network of 20,000 providers in over 200 countries.
Lyra's evidence-based approach results in 7x better outcomes than traditional plans.
Upsides
Lyra Health's partnerships with AT&T and CHA validate its market position.
The company has sustained a 26% reduction in healthcare costs over four years.
Lyra's expansion into teen mental health care addresses a growing market need.
Funding
Total raised$671.28 M
Latest valuation$5.85 B
StageSERIES_F
SERIES F
12/31/2021$35
$5.85 BSERIES E
12/31/2020$187
$2.25 BSERIES B
4/30/2018$45
$225.00 M$35
$175.00 MSEED
5/31/2015$3
$15.50 M