Thursday, July 8, 2021
HomeHealthcareLyra valued at $4.6B, plans to build out international presence 

Lyra valued at $4.6B, plans to build out international presence 

” Delivering mental health care for diverse employee populations around the world is one of the most pressing and intricate issues for employers today, and this new funding will help Lyra accelerate our strategies to provide extensive, international solutions,”Lyra CEO David Ebersman stated in a news release. Lyra is working with ICAS, which provides access to psychological health companies in 180 nations, to broaden this model for international companies. Lyra also plans to provide preventive tools for global members through the app, consisting of topics on tension, parenting, sleep, and meditation workouts.

Six months after closing a financing round in January, behavioral health start-up Lyra Health more than doubled its valuation. The company recently raised$200 million in financing, offering it an evaluation of$4.6 billion, it announced on Monday. Technology-focused hedge fund Coatue led

the funding round. Lyra prepares to utilize the capital to make its virtual therapy available worldwide, structure on an existing collaboration with worldwide EAP-provider ICAS that it struck earlier this year.” Delivering mental health care for varied staff member populations all over the world is among the most important and complex problems for companies today, and this new financing will assist Lyra accelerate our strategies to deliver detailed, worldwide solutions,”Lyra CEO David Ebersman stated in a press release. Burlingame, Calif.-based Lyra was founded in 2015.

Ever since, the start-up has actually accumulated an overall of $680 million in financing. Like its rivals, the business mainly uses its mental health

services as a covered benefit through companies. They consist of video therapy, messaging with health coaches, and self-guided activities through its app. Lyra is dealing with ICAS, which provides access to mental health companies in 180 nations, to broaden this model for international companies. Starting next year, Lyra plans to roll out a brand-new app that will consist of all of these services for its worldwide members. Through the app, members will have the ability to gain access to therapy, mental health training and medication. Lyra also plans to offer preventive tools for international members through the app, consisting of subjects on stress, meditation, sleep, and parenting workouts. In the meantime, other mental health startups are forging their own strategies for development. For instance, Ginger, which uses text-based

training and teletherapy, just recently struck a collaboration to be covered by Cigna. Other methods, like Headway, which is constructing its own network of therapists covered by insurance providers, are also raising funding. Photo credit: Venimo, Getty Images

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