To collect data on the progress of treatment, Lyra periodically sends patients outcomes surveys. The questionnaires inquire, for example, about things like anxiety or irritability over the last two weeks, asking patients to rank their intensity from 0 to 3, according to surveys viewed by BuzzFeed News. Kyle Coward is a former mental health professional with more than a decade of experience as a freelance writer. Lyras platform takes users through a brief triage process, during which members are asked about their presenting problems, from clinical symptoms to severity of issues. While more and more employers are offering mental health benefits, that doesnt always translate into opportunities for traditional behavioral health providers. Take Ginger, for example. Headspace and Ginger were founded in 2010 and 2011, respectively. Google and Starbucks confirmed they receive data from Lyra in order to judge the services value to employees. Adams Street's Growth Equity Team is proud to announce an investment in Lyra, a mental health provider that is transforming behavioral healthcare through technology with a human touch.. A Market in Need of Disruption. We have a database that houses information on providers and allows us to very quickly ascertain who in a given geography is most likely practicing evidence-based therapy, Schneider said. You can read the conversation with McCarthy below, which has been edited for length and clarity. For many providers, partnering with Lyra means they can spend less time advertising their business and creating new referral streams and more time doing what they are passionate about, which is providing evidence-based therapy for patients, Schneider said. BuzzFeed News spoke to seven current and former Google, Facebook, and Starbucks employees who saw Lyra therapists and were upset about the sharing of outcomes data. Sean helped start Lyra Health in 2015 and now leads partnerships, sales, customer success, marketing, and organizational mental health. Contact Richard Nieva at richard.nieva@buzzfeed.com. More on Lyra Health: Lyra Health partners with employers to give employees and their dependents access to personalized mental health services. While Lyra has grown steadily since its founding in 2015, 2020 was quite the breakout year for Lyra, which more than doubled its customer base to over 2 million members and raised about $185 million across two different funding rounds. Lyra Health - Crunchbase Company Profile & Funding Lyra blends the best providers, advanced technology, and a steadfast commitment to quality care for all. Lyra Health has 5 employees at their 1 location and $890.1 m in total funding,. Lyras prominence raises questions about whether a high-flying Silicon Valley startups need to justify its reported $4.6 billion valuation conflicts with its ability to provide quality mental health services. 1 0 obj stream Lyra Frequently Asked Questions (FAQ) What is Lyra Health? - Synopsys Sands Capital and the company's existing investors also participated in the raise. Photo: Lacheev/Getty Images. 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. Because of Covid, economic uncertainty, and conversations around racial injustice, people are really struggling even more, and it's an important time to invest in a service that really will be there for their employees when they need it, says Ebersman, who previously served as chief financial officer of Genentech and Facebook. Lyra's platform helps members identify the particular services that are available and that they are best suited for through an algorithmic process known as intelligent matching technology, which pairs users with therapists, coaches or physicians specializing in mental health or addiction treatment care. Lyra Health's Annual Report & Profile shows critical firmographic facts: What is the company's size? 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. 2023 Lyra Health, Inc. works in partnership with Lyra Clinical Associates P.C. 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. Here are a few of our proudest moments. Additionally, the company raked in another impressive funding haul in January, raising $187 million in a Series E round led by the venture capital firm Addition, along with participation by Baillie Gifford, Durable Capital Partners, Fidelity Management & Research Co. and other previous investors. Stephanie is a graduate of Harvard College and holds an MBA from Harvard Business School. Lyra Health gains unicorn status as demand for teletherapy soars The latest R&D info about Lyra Health, Inc.: pipelines, patents How long does it take to use Lyra? Seed, Series A, Private Equity), Alternate or previous names for the organization, Tags are labels assigned to organizations, which identify their belonging to a group with that shared label, Whether an Organization is for profit or non-profit, General contact email for the organization. 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. Join Lyra and hundreds of HR leaders for our two-day, in-person conference to "break through" the tough issues surrounding workforce mental health. Emerson Collective and Salesforce Ventures are the most recent investors. The veterinary profession as a whole has some really unique challenges, says VCAs director of associate well-being Johanna Baldwin, including compassion fatigue and burnout. The company, which has raised $700 million in funding to date, generates revenue through deals with high-profile companies, using anonymized patient data to prove it provides worthwhile benefits. Lyra Health Company Profile - Craft Our huge technology companies don't hold personal privacy with the same regard that I think they should, Keiser told BuzzFeed News. She is a board certified internal medicine physician. About Lyra Health. Lyra Health revenue is $52.7M, valuation more than $1.1B Jenny excels at using technology to build highly scalable and innovative products with delightful user experiences. Lyra is a mental health solution with flexible care options and a convenient digital platform. ", The bottom line is, this is a business. View contacts for Lyra Health to access new leads and connect with decision-makers. The added layer of sharing information with an employer makes it even more problematic. BHB is part of the Aging Media Network. After graduating from the UCSF School of Medicine, she completed her residency at Stanford and has a BA in economics from Harvard College. Burlingame, California, United States 501-1000 Series F Private www.lyrahealth.com 23,038 Highlights Acquisitions 1 Total Funding Amount $910.1M Contacts 456 Employee Profiles 18 Investors 35 Similar Companies 44 Find More Contacts for Lyra Health But if you look at what we did in 2020, it gives a good sense of both the need and the opportunity. That, in turn, allows Lyra to offer member employees various levels of care, from coaching to more intensive in-person therapy. Lyra did not address these allegations and Facebook declined to comment. 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. He later jumped to Facebook, where he served as CFO, as well as a board member for Castlight Health. January 19, 2022. The clinicians on Lyras platform specialize in evidence-based blended care therapy, a mix of in-person or live-video sessions and digital lessons and other content. Lyra Health's annual revenues are $100-$500 million (see exact revenue data) and has 100-500 employees. Join us for Breakthrough, Lyras annual mental health conference, in San Francisco. Receive industry updates and breaking news from Behavioral Health Business, Image by Nattanan Kanchanaprat from Pixabay, and raised about $185 million across two different funding rounds, Embark CEO: Time, Evidence Are First Steps to Building Trust with Payers, CARD, Magellan Health, Cortica Execs: the Challenge of Value-Based Care Is Getting Everybody on the Same Page, Digital Point Solutions Positioned for Value-Based Contracting, But Payers, EAPs and Providers Lack Consensus. 2023 Lyra Health, Inc. works in partnership with Lyra Clinical Associates P.C. I was surprised when I heard about her story, said a former Google employee. Jan 19, 2022, 08:01 ET. Glasson, who is suing Google after alleged pregnancy discrimination, had sought session notes from her Lyra therapist as part of the lawsuit. The average Lyra Health hourly pay ranges from approximately $25 per hour for a Client Support Specialist to $33 per hour for a Therapist. Five years later, Lyra is rapidly expanding, and by the end of this month expects to have delivered its one-millionth session. Other mental health companies, including Ginger, Modern Health, and Cerebral, have also become workplace staples, especially throughout a global pandemic. It was an opportunity for positive change.. The Burlingame-based company will use the money to continue international expansion. The company frequently cites a retrospective study of 385 Lyra patients published in the Journal of Medical Internet Research, which found its blended model helped 83% of participants improve anxiety or depression over a 6-week period. Lyra isnt the only company in the mental health space facing questions about what its doing with anonymous user data. Lyra Health is funded by 35 investors. That type of acceleration has been really inspiring to see. Lyra helps companies improve access to effective, high-quality mental health care for their employees. Lyra is currently working with employers representing 1 million covered lives across the U.S. With our streamlined model, Lyra is able to secure members fast access to care with superior clinical outcomes. Network with thought leaders and discover solutions to todays tough issues in workforce mental health. If you look from tip to tail, the challenge begins with access to providers. After consulting with Glasson, Washington State Sen. Karen Keiser sent a letter in November to the states secretary of health about the potential conflict between employees and employers that participate in EAPs, according to a copy of the letter viewed by BuzzFeed News. We want to expand those options. 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. Ms. Caccavo holds a B.S. Behavioral Health Business (BHB) is the leading source for news and information covering the mental health and addiction industry. Lyra Health Introduces New Innovations in Care for Alcohol Use Disorder Health (7 days ago) WebLyra supports your people with: Instant access to individualized care, from self-guided programs and mental health coaching to therapy and medication management Care options that suit personal preferences , Health (5 days ago) WebLyra, which offers an easy-to-use digital platform to connect people with mental health providers, has around 1.5 million members so , Health (5 days ago) WebLyra Health offers its mental health platform to companies as a benefit for their employees. Lyra is an employee wellness solution that enables employees to receive care for their emotional and mental well-being. For more information, visit lyrahealth.com and. 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. Cerebral did not respond to a request for comment. Turnover as a measure of success is certainly dubious in mental healthcare.. Funding. Lyra's model is relatively unique when you compare it to other startups offering employee mental health benefits. Join us for Breakthrough, Lyras annual mental health conference, in San Francisco. He said he had to constantly re-explain things hed gone over in previous sessions, which made him relive the same traumas every time he had to repeat them. Thats going to be based on the patient and my discretion.. % 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. Products; . That quickness was a big selling point for eBay, one of Lyras corporate partners. But patients may feel compelled to complete them because the automated emails look like they are coming from their therapist. Lyra Health is , Health (3 days ago) WebLyra Health's annual revenues are $100-$500 million (see exact revenue data) and has 100-500 employees.