Lyra Health

Lyra Health

Lyra helps companies improve access to effective, high-quality mental health care for their employees.

Overview

Lyra Health has developed a digital mental health platform for enterprise business employees. The platform connects members with a network of therapists, life coaches, and other mental health professionals through live video telehealth therapy, coaching, and self-care tools allowing employees and their families access to mental health plans in real-time.

Services

Lyra works with employers to offer its service in an end-to-end format starting by assisting companies in announcing that the product exists. Lyra states that they recognize that mental health can be a sensitive topic for employees, so it works with employers and employees to assure safety and HIPPA compliant data collection.

Care services

Lyra offers various care services to its users, including self-care tools, mental health coaching, evidence-based therapy, medication management, critical incident support, manager training, onsite therapy, and work-life services. The services can be implemented at companies through health plans, employee assistance programs, or custom benefit plans can be developed through collaboration between Lyra and employers.

Methodology

Using validated clinical assessments such as the GAD-7 and PHQ-9, Lyra makes actionable suggestions to employees, such as speaking with a therapist, coach, or practicing self-help techniques. Lyra's 400,000+ mental health providers use evidence-based treatments (EBTs) with employees/ patients to promote effective health plans. Common properties of EBTs are goal-focused treatments, new skill development, practice between sessions, track progress toward goals, and short-term and long-term benefits.

Care network

Lyra has developed a network of over 400,000 mental health providers using machine learning, analytical models, and clinical experience. Machine learning and data analytics help Lyra identify evidence-based providers located near members. Lyra then assigns the providers with "Quality Prediction Scores" that predict adherence to evidence-based practices. If scores are high enough, the company schedules clinical interviews with providers to validate the quality prediction scores and invite qualifying providers to join the Lyria network; the company reports that roughly 5% of candidates are selected.

Ongoing patient assessments and progress tracking are conducted to monitor the effectiveness of providers over time. If a provider is deemed ineffective, they are removed from the Lyra network.

Timeline

2021
Lyra Health announces Breakthrough 2021 Virtual Conference for Workplace Mental Health.
August 25, 2020
Lyra Health hits the unicorn status, following a $110 million Series D round.

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. Lyra is the third company from the 2020 list to cross the $1 billion dollar valuation mark.

March 12, 2020
Mental health benefits startup Lyra Health raises $75M

A behavioral health startup founded by Facebook’s former CFO raised $75 million in new funding. Lyra Health, which connects employees to therapists and other providers through its platform, has now raised more than $175 million to date.

May 7, 2018
Lyra Health raises $45M to create a smart network for mental health problems.

The company said it has raised $45 million in a new financing round including Tenaya Capital, Glynn Capital Partners, Crown Ventures, and Casdin Capital. Existing investors that include Greylock Partners, Venrock, and Providence Ventures also participated in the funding round.

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
Lyra Health Series E round December 2020
110,000,000
August 2020
5 Results
Results per page:
Page 1 of 1

People

Name
Role
LinkedIn

Further reading

Title
Author
Link
Type
Date

Lyra Health helps make sure your employees get proper mental health care

Mark Sullivan

Web

October 14, 2015

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Lyra Health
January 14, 2021
www.prnewswire.com:443
/PRNewswire/ -- Lyra Health, the leading provider of comprehensive mental health care benefits for employers, today announced it will host Lyra Breakthrough...
Natasha Mascarenhas
December 17, 2020
TechCrunch
The coronavirus pandemic has underscored, and often exacerbated, the mental health crisis that exists across the world. Even the spread of remote work is part of the problem: As everyone stays at home, the lack of interaction and watercooler chat has left employees without in-person interaction. The need for a solution has helped tech-powered mental [...]
Heather Landi
August 25, 2020
FierceHealthcare
The demand for mental health tools for employees has helped boost Lyra Health to unicorn status on the heels of a $110 million funding round. Here's why Starbucks' former CEO Howard Schultz and other investors are backing the startup.
Paige Minemyer
July 30, 2020
FierceHealthcare
COVID-19 is having a massive impact on employees' mental health, according to a new report.

References

Golden logo
Text is available under the Creative Commons Attribution-ShareAlike 4.0; additional terms apply. By using this site, you agree to our Terms & Conditions.