Lyra Health Completes $200M Funding Round to Transform Mental Health Care Globally

Burlingame, CA June 14, 2021 Lyra Health, the leading provider of comprehensive mental health care benefits for employers, today announced it has completed a $200M financing. Coatue led the round and was joined by new investor Sands Capital, along with existing investors. With the new funding, Lyra plans to accelerate its delivery of evidence-based mental health benefits for companies with employees located around the world. Lyra separately announced today new plans to enhance its international solutions.

Lyra delivers mental health for employees and family members at leading multinational companies, including eBay; Genentech, a member of the Roche Group; Uber; and VCA Animal Hospitals. Lyra currently serves more than 2.2 million members globally.

Innovative, Clinically Proven Mental Health Care for Members Worldwide

Lyra provides evidence-based care that supports people across all facets of mental health, from wellness and preventive care to the most severe conditions. Lyra's innovative Blended Care Therapy pairs video counseling sessions, one-to-one messaging, and digital activities prescribed by the provider to support individuals in their everyday lives. Based on Cognitive Behavioral Therapy principles, this immersive treatment model with ongoing support between sessions helps individuals improve faster. Lyra's curated network includes more than 5,000 coaches, therapists, and doctors in the U.S., with an additional 85,000 providers available worldwide through global partnerships.

A peer-reviewed study found Lyra's Blended Care Therapy helped 83% of participants improve or recover from anxiety or depression. Comparatively, just 24% of people who receive care through traditional health plans demonstrate reliable clinical improvement.

One in five people struggle with mental health challenges such as anxiety, depression, or substance use disorder, said David Ebersman, Lyra Health CEO and co-founder. Delivering mental health care for diverse employee populations around the world is one of the most pressing and complex issues for employers today, and this new funding will help Lyra accelerate our plans to deliver comprehensive, global solutions.

About Lyra Health

Lyra Health, a leading provider of innovative mental health benefits for more than 2.2 million global employees and dependents, is transforming mental health care by creating a frictionless experience for members, providers, and employers. Using matching technology and an innovative digital platform, Lyra quickly connects companies and their employees - plus spouses and children - to world-class therapists, mental health coaches, and personalized medication prescribing. Leading self-insured employers partner with Lyra to tailor value-driven mental health benefits programs specific to their workforce. With Lyra, benefits leaders can offer employees fast, reliable access to providers who practice evidence-based mental health care treatments. For more information, visit lyrahealth.com and follow us on LinkedIn, Facebook, and Twitter.

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