Lyra Health joined the Unicorn Club on August 25, 2020, after raising a $110 million Series D funding round led by Addition, achieving unicorn status in just over 5 years. Headquartered in Burlingame, California, United States, Lyra Health delivers AI-powered mental health benefits for employers, combining technology with a network of licensed providers.
The platform enables organizations to enhance employee well-being, lower healthcare costs, and monitor treatment outcomes through AI-driven matching, personalized support, and comprehensive care management.
Keep reading to see how Lyra Health became a leading provider of employer-focused mental healthcare solutions.
What Is Lyra Health and What Does It Do?
Founded in 2015, Lyra Health provides employers with access to evidence-based mental healthcare for their workforce. Its platform uses AI to match employees with the right therapists, coaches, or care programs, ensuring personalized care. Lyra tracks outcomes to improve the quality of care and help employers reduce costs associated with mental health challenges.
Services include therapy, coaching, medication management, digital behavioral health programs, and support for diverse employee demographics. Its tools also help HR teams monitor engagement and promote mental health initiatives organization-wide.
How Much Funding Has Lyra Health Raised?
1. Series D Round
- Amount Raised: $110 million
- Date: August 25, 2020
- Lead Investor: Addition
- Purpose: Expand platform capabilities, grow provider network, and scale employer services
2. Latest Funding Round
- Round Type: Series F
- Amount Raised: $235 million
- Date: January 19, 2022
- Purpose: Accelerate growth, enhance AI-driven mental health tools, and expand global reach
3. Earlier Rounds (Seed to Series C)
- Total Funding Before Series D: ~$570 million
- Key Investors: Glynn Capital, IVP
- Purpose: Product development, technology scaling, and provider network expansion
Total Funding Raised: ~$915 million
Latest Funding Date: January 19, 2022
Latest Known Valuation: ~$5.58 billion
Employee Count: 1,145 (as of December 31, 2023)
Key Investors
1. Glynn Capital
- Details: Growth-stage investment firm focused on technology and healthcare companies.
- Focus Areas: Digital health, SaaS platforms, and innovation in employee benefits.
2. IVP
- Details: Venture capital firm investing in late-stage technology companies.
- Focus Areas: HRTech, enterprise software, and scalable employee-focused solutions.
Where Is Lyra Health’s Headquarters?
Lyra Health is headquartered in Burlingame, California, United States, where its teams focus on developing AI platforms, managing provider networks, delivering employer services, and providing employee mental health solutions. The headquarters also serves as a hub for research, analytics, and the integration of AI-driven healthcare tools.
What’s Next for Lyra Health?
Lyra Health plans to expand globally, integrate advanced AI analytics for personalized care, and enhance its suite of mental health programs for employees. The company aims to strengthen employer engagement tools and further improve treatment outcomes while reducing organizational healthcare costs.
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