Lyra Health Raises $187M at $2.3B Valuation for Digital Mental Health Platform
What You Should Know:
– Lyra Health just announced another massive funding round of $187M, bringing its total to approximately $462 million and the valuation to approximately $2.3 billion.
– The company, which previously raised a series D round in August of $110M at a valuation slightly above $1 billion has now more than doubled in value.
– Lyra Health also announced a new partnership with global benefits company ICAS, which now allows it to provide some level of mental health parity to employees at a global scale.
Lyra Health, a Burlingame, CA-based provider of mental healthcare benefits for employers, today announced a Series E financing round of $187 million led by Addition along with new investors Durable Capital Partners LP, Fidelity Management & Research Company, and Baillie Gifford, and existing investors. This financing will enable Lyra to further expand its investments in pioneering tec
Mental wellness platform Lyra Health is raising up to $175M at a $2.25B valuation
January 28, 2021 Update: Lyra Health filed paperwork with the SEC indicating that it has raised $186.7 million in new equity financing.
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 health solutions raise funding to meet increased demand. In the latest development, it emerged that Lyra Health, a platform that focuses on providing workforces with mental health care, has filed paperwork to raise a $175 million Series E at a $2.25 billion valuation.