Clinicians can use the data to help shape their treatment, but theres another reason Lyra pushes the surveys: The company shares aggregated and anonymized data about patient outcomes with employers to illustrate the effectiveness of its services. Lyra Health is founded and receives $35 million in Series A funding, led by Greylock Partners and Venrock, Lyra launches Mental Health Coaching and Blended Care Therapy, and secures $45 million in Series B financing, with Tenaya Capital, Glynn Capital, Crown Ventures, and Casdin Capital, Lyra launches Blended Care Medication Management, Lyra raises $75 million in Series C funding, welcoming leading growth investors IVP and Meritech, Lyra named to Fast Companys 2020 list of the Worlds Most Innovative Companies, Lyra secures $110 million in Series D funding, led by Addition and including Adams Street and our existing investors, Lyra earns Forbes Best Product Healthcare Award 2020, Oprah named Lyra investor; Lyra raises $187 million in Series E funding and completes additional $200 million funding round, Lyra Health partners with ICAS World to deliver comprehensive mental health care globally, Lyra introduces Preventive Care suite, along several initiatives to address complex mental health diagnoses including Lyra Renew, Lyra DBT, and Lyra Concierge, Lyra completes $235M funding round, led by Dragoneer and including Salesforce Ventures and existing investor Coatue, Lyra acquires ICAS World and grows to 10 million members, Lyra launches Workforce Transformation and an expanded suite of offerings to support Whole-Family Mental Health. MAY 16 & 17 | The Presidio of San Francisco, CA. He also serves on the board of Momentive. Then, in December, Keiser pre-filed legislation that aims to give workers more rights when it comes to EAPs. When comparing to other top Mental Health vendors, on a scale between 1 to 10 (10 is the most expensive to implement), Lyra Health is rated 3.8. Lyra isnt the only company in the mental health space facing questions about what its doing with anonymous user data. Our aim is to revolutionize behavioral health care not only for employers, but for providers, too.. [With] an IPO, obviously its a wonderful milestone for any company, and it has a lot of benefits not only from a financial standpoint but from a visibility standpoint. With care for the full spectrum of mental health issues, from stress to suicidality, your people can show up fully for their families, their jobs, and their daily lives. Lyra drives tangible results Employee Engagement 10x engagement compared to traditional EAP services Employees in Care 10% of eligible employees receive care with a Lyra provider Improved Workforce Health 88% of Lyra members clinically improve or recover from symptoms of anxiety and depression* *based on the PHQ-9 and GAD-7 clinical measures People will be more comfortable with accessing care in new ways, and were certainly hopeful that thats going to mean more people get the care they need. So they decided to end treatment with that counselor and find another one on Lyras platform. View contacts for Lyra Health to access new leads and connect with decision-makers. After graduating from the UCSF School of Medicine, she completed her residency at Stanford and has a BA in economics from Harvard College. The retail medicine continues to have business model centered on the product and controlling the pharmaceutical practice model. In December, Forbes reported that Cerebral had reclassified salaried therapists as contractors, making access to medical, vision, and dental benefits contingent on meeting quotas. <>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/Annots[ 16 0 R 17 0 R] /MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> He holds an Honours degree from Wits University and an MA in Clinical Psychology from the University of Natal. We certainly look at it as a wonderful opportunity. Were trying to tackle transforming the mental health care system overall, and that is a very significant challenge. The number one thing is continued interest in new partnerships to drive better solutions for people [accessing] mental health care, and were continuing to see a lot of interest from large enterprises. Especially as 2020 proved that things like racial trauma are very important [in] mental health care, were making sure that were delivering a network that has the diversity to match the population. Stephanie is a graduate of Harvard College and holds an MBA from Harvard Business School. EDITOR'S NOTE: This story has been updated to reflect Lyra He | Mental health benefits provider Lyra Health grabbed $235 million in a series G round that boosted its valuation to $5.58 billion. Lyra charts patient progress longitudinally and shares it back with our providers to enable feedback-informed treatment. The name was changed to Lyra Health prior to the companys launch. Pay-for-results pricing model Forget the sunk costs associated with traditional EAPs that require you to pay for a service your employees may not even use. Based in Burlingame, California, Lyra Health is a digital technology company that helps workplaces connect employees and their families to behavioral health services, partnering with behavioral health providers to make it possible. Gingers coaches stay with the member as they move throughout the continuum. A state senate committee discussed the bill at a hearing last month. Lyra Pricing, Features, Reviews & Alternatives | GetApp The bottom line is, this is a business. Lyra Health cofounder and CEO David Ebersman. endobj The tech industrys growth-at-all-costs outlook may not translate well to a field as delicate as mental health. A study published in the Journal of Medical Internet Research, led by Lyras 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. What we saw in the first half of 20 was organizations coming to us having very rapid conversations, and then wanting to bring Lyra online for their organizations within a couple of weeks after choosing us as their mental health care provider. As employers grapple with the fallout of the coronavirus pandemic, theres a reckoning taking place in human resources departments around the country: the need for better mental healthcare for employees. The San Francisco-based virtual behavioral health care system delivers text- and video-based mental health services to users, including behavioral health coaching, therapy and psychiatry. As more people entrust this burgeoning class of therapy apps with their well-being, the tech industrys growth-at-all-costs outlook may not translate well to a field as delicate as mental health. BURLINGAME, Calif., June 14, 2021 /PRNewswire/ -- Lyra Health, the leading provider of comprehensive mental health care , Health (4 days ago) WebIn the latest development, it emerged that Lyra Health, a platform that focuses on providing workforces with mental health care, has filed paperwork to raise a , Onesource passport health provider login, Government employee health association geha, Assisted living mental health facilities, Jefferies london health care conference 2022, Advent health shared services phone number, Best short term health insurance colorado, Maxhealth bradenton physicians patient portal, Department of health federal government, Health disparities environmental factors, 2022 health-mental.org. Lyra's approach to mental health care has been proven to help members improve or recover faster and reduce medical claims costs for employers. Lyra Health scores $235M and a new acquisitionbut it's not the only Lyra Health gains unicorn status as demand for teletherapy soars Untreated mental health conditions can lead to lower productivity and morale that can affect the overall work environment. Previously, Stephanie was an HR executive at Gusto, overseeing internal communications, people operations, total rewards, and people analytics. Lyra whose juggernaut slate of corporate clients also includes Google, Facebook parent Meta, and Morgan Stanley is one of the leaders in a wave of startups focusing on mental health, applying Silicon Valleys data-absorbed ethos to the discipline of therapy. You can find information easily about the providers and coaches, and then you can quickly do online scheduling, she says, which is particularly important for employees working different shifts at 24-hour hospitals. Active, Closed, Last funding round type (e.g. They expanded their tech stack, including LinkedIn Sales Navigator to help them balance this period of extreme growth with their commitment to providing members-first personalized service. Arthur Caplan, head of the Division of Medical Ethics at the NYU Grossman School of Medicine, said a bonus system like the one used by Lyra makes him nervous. It could be a conflict of interest, he said. Discover job postings and attract candidates across the post-acute and senior care continuum. It's unusual for a mental health care company to achieve unicorn statuslet alone a $2 billion-plus valuation. Ms. Caccavo holds a B.S. Rates of anxiety, depression, and general mental health challenges are increasing around the world, and we believe Lyra has the opportunity to offer care to a large portion of the population that historically has been unable to access it.. The former Facebook executive, who was previously the financial chief at Genentech before arriving at Mark Zuckerbergs social network, said he decided to start Lyra after having a difficult experience finding care for a family member. Lyra makes it easy to prove the ROI of your mental health investment. BURLINGAME, Calif. , Jan. 19, 2022. Diversity Spotlight (US Headquarters Only), Edit Lists Featuring This Company Section, Pelican Products Partners with Lyra Health to Expand Mental Health Services for Employees, Forecast: 15 Startups We Think Could Go Public In 2023, Telehealth Startups Pivot (Yet Again) As Employer Benefits Get Reevaluated In Layoff-Looming Economy, Western US Information Technology Female Founded Companies, Health Care Late Stage Companies With More Than 10 Employees, West Coast Information Services Female Founded Companies. This process takes less than 10 minutes, with appointments available in as few as 24 hours. Worldwide, 970 million people are living with mental health issues. Lyra Health. The care we provide helps people healand we have peer-reviewed research to prove it. A year after switching to Lyra, employee engagement was up seven times over the former EAP. Mental Health is a global challenge, Lucas Swisher, a general partner at Coatue said in a statement. Lyra Health Introduces New Innovations in Care for Alcohol Use Disorder