Lyra Health, a Burlingame, Calif.-based provider of comprehensive mental health care benefits for employers, raised $187m in Series E financing round. The round was led by Addition with participation from Durable Capital Partners LP, Fidelity Management & Research Company, and Baillie Gifford, along with other existing investors.
“2020 put the need for mental health care transformation in sharp focus, as more people sought help during these extraordinary and difficult times,” said David Ebersman, Lyra Health CEO and co-founder. “The traditional mental health care system cannot address the critical needs people have today. Lyra is now able to directly support more than 2 million members as we enable employers to offer their people easy, effective access to clinically proven mental health care. This latest financing round will allow Lyra to continue to develop new and innovative care solutions while reaching new customers and members.”
Lyra pioneers evidence-based, technology-enabled mental health solutions that accelerate access to care and match members to clinically proven programs that prioritize fast and durable symptom improvement. In 2020, the company introduced Lyra Blended Care, which pairs video therapy sessions with personalized digital lessons and exercises based on Cognitive Behavioral Therapy (CBT) principles.
This financing will enable Lyra to further expand its investments in pioneering tech-enabled mental health care, a growing and diverse provider network, and new partnerships to support the world’s largest global organizations.
Announcement: Lyra Health Closes $187M for Workplace Mental Health