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lyrahealth.com

Founded Year

2015

Stage

Series G | Alive

Total Raised

$906.13M

Valuation

$0000 

Last Raised

$235M | 5 mos ago

Revenue

$0000 

Mosaic Score

+10 points in the past 30 days

What is a Mosaic Score?
The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.

About Lyra Health

Lyra Health provides mental health benefits for employees and dependents. Lyra Health uses matching technology and digital platform, Lyra connects companies and their employees-plus spouses and children-to therapists, mental health coaches, and personalized medication prescribing.

Lyra Health Headquarter Location

287 Lorton Avenue

Burlingame, California, 94010,

United States

800-505-5972

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Expert Collections containing Lyra Health

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Lyra Health is included in 10 Expert Collections, including Mental Health Tech.

M

Mental Health Tech

1,204 items

This collection includes companies applying technology to problems of emotional, psychological, and social well-being. Examples include companies working in areas such as substance abuse, eating disorders, stress reduction, depression, PTSD, and anxiety.

U

Unicorns- Billion Dollar Startups

1,163 items

C

Conference Exhibitors

5,501 items

HLTH is a healthcare event bringing together startups and large companies from pharma, health insurance, business intelligence, and more to discuss the shifting landscape of healthcare

W

Wellness Tech

1,302 items

We define wellness tech as companies developing technology to help consumers improve their physical, mental, and social well-being. Companies in this collection play across a wide range of categories, including food and beverage, fitness, personal care, and corporate wellness.

D

Digital Health 150

300 items

2019's cohort of the most promising digital health startups transforming the healthcare industry

F

Future Unicorns 2019

50 items

Lyra Health Patents

Lyra Health has filed 4 patents.

patents chart

Application Date

Grant Date

Title

Related Topics

Status

6/3/2016

5/18/2021

Natural language processing, Computational linguistics, Cognitive behavioral therapy, Medical terminology, Tasks of natural language processing

Grant

Application Date

6/3/2016

Grant Date

5/18/2021

Title

Related Topics

Natural language processing, Computational linguistics, Cognitive behavioral therapy, Medical terminology, Tasks of natural language processing

Status

Grant

Latest Lyra Health News

Digital Health Faced Headwinds in the First Quarter of 2022

Jun 8, 2022

To embed, copy and paste the code into your website or blog: <iframe frameborder="1" height="620" scrolling="auto" src="//www.jdsupra.com/post/contentViewerEmbed.aspx?fid=2a65be32-5632-49a8-a850-20a1404821fb" style="border: 2px solid #ccc; overflow-x:hidden !important; overflow:hidden;" width="100%"></iframe> Investors are understandably cautious this year as the Federal Reserve tightens monetary policies and financial markets erased the gains from the last 12 months. Public company investors in sectors with enticing upside—like digital health—are waiting for headwinds to abate before they jump back in, and investment in venture-backed companies has slowed considerably. The numbers from the first quarter of 2022 reflect this caution. After a record-breaking 2021 for the white-hot digital health sector, where the number and size of funding rounds reached new heights, the first quarter saw a slowdown in digital health dealmaking and the IPO market quieted significantly. The downturn, of course, is not confined to digital health. Challenges including inflation, rising interest rates, the war in Ukraine and ongoing supply chain issues have resulted in capital preservation and belt tightening, postponed IPO plans and valuation markdowns across the startup landscape. Public companies in nearly every industry are being similarly impacted, with tech being hit particularly hard. But the full story of 2022 remains to be written, and for digital health, at least in the private market, it is more of a slowdown than a crash. Deals are still being done, and digital health companies offering products and services that improve patient health and quality of care still have a lot to be optimistic about. But there is no question that for now, the bar for raising private capital or accessing the public markets has been raised across the digital health sector. Funding Figures Reflect New Reality Our friends at Rock Health point out that there were 183 venture capital financings for U.S.-based digital health startups in Q1 of this year, with a total value of about $6 billion. This represents a meaningful drop from Q4 of last year, when $7.3 billion was invested. The first quarter of 2021—which was the smallest quarter last year in terms of dollars invested—saw $6.7 billion flow to digital health startups, researchers indicated. Globally, digital health startups saw a 36% drop in funding from the fourth quarter of 2021. Our analysis of data from PitchBook, which examines not only funding rounds but also leveraged buyouts, grants, acquisitions, IPOs and other transactions, shows that globally there were 390 total transactions in the first quarter, which is a 26% drop from the first quarter of 2021, when 525 transactions were closed. Investments in early-stage digital health companies have followed the same trajectory that high-valuation growth stocks have charted on Wall Street: downward. While there were 103 funding rounds for early-stage digital health companies in Q1 of 2021, there were 82 over the same period this year, according to Pitchbook. But for later-stage deals, the gap was noticeably smaller. While there were 121 later stage deals in Q1 of 2021, there were 115 in the first quarter of 2022. This could be a sign that later-stage companies are delaying their entries to a public market that has been extremely volatile so far this year. These companies may also be holding back as they rewrite their roadmaps away from SPAC transactions—which have not fared well in recent market turbulence—and toward the traditional IPO route. While the number and size of deals dropped in Q1, PitchBook research found that 11 U.S.-based digital health startups—all of them later-stage—raised “mega-rounds” of more than $100 million. Fenwick represented Lyra Health in its $235 million financing , Brightline in its $105 million Series C round and Freenome in its $290 million investment from Roche Diagnostics. Quieter Exit Markets Last year saw an average of 23 mergers or acquisitions for digital health startups each month, and a yearly total of 23 debuts on the public markets via SPAC or traditional IPO transactions. Our research shows that there was a single digital health IPO in the first quarter of this year, down from three over the same period last year. The number of mergers and acquisitions, however, was unchanged between Q1 of last year and the first quarter of this year, at 31 transactions for both time periods. A couple of the transactions Fenwick advised on in Q1 included representing Nurx in its merger with Thirty Madison and Calm in its acquisition of Ripple Health. In healthcare more broadly, M&A dealmaking is down so far this year. But acquirers are still keen on cloud-based healthcare platforms and new digital tools. Hospitals and healthcare systems—whose bottom lines are under pressure from supply constraints, staffing shortages and a steep decline in elective procedures—need to accomplish more with less during the current downturn, and see digital health solutions as a lifeline. Hospitals are expected to undergo fundamental changes this year, with consolidations, restructurings and bankruptcies predicted. These trends could mean that the acquisition of digital health tools and platforms will continue full steam this year, as chaos often spells opportunity for newer entrants. At the same time, significant changes are on the way that will likely have a measurable impact on digital health’s hottest sector of the past two years: telemedicine. While the federal government will be deciding how many Medicare patients are eligible for digital remote care, states will iron out their rules for licensure of healthcare professionals who use these platforms. Major insurers will also be fine-tuning their reimbursement rules for telehealth. If decisions in all of these areas enable the further expansion of telemedicine, it could rev up M&A and funding opportunities for startups in this area. Signs of Resilience The economic downturn has battered every asset class, from growth stocks to the bond market to cryptocurrencies to commodities. Analysts disagree on whether the market is nearing its bottom, or whether more volatility and downside is incoming. The private markets have followed the same path, and investors are advising startups to tighten their belts and make their cash last, as recovery could take time. Digital health, however, is showing signs of resilience. Six new digital health unicorns—or startups valued at more than $1 billion— emerged in the first quarter of this year, which was a period of historic valuation write-downs across a range of industries. M&A remains lively, and changes are on the horizon that could help digital health rebound. As always, it will be interesting to see what the rest of this year has in store. I’m optimistic. As we have seen during prior downturns, times of upheaval and uncertainty will give way to exciting new opportunities for growth, and new companies will be formed and become tomorrow’s leaders.

Lyra Health Web Traffic

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  • When was Lyra Health founded?

    Lyra Health was founded in 2015.

  • Where is Lyra Health's headquarters?

    Lyra Health's headquarters is located at 287 Lorton Avenue, Burlingame.

  • What is Lyra Health's latest funding round?

    Lyra Health's latest funding round is Series G.

  • How much did Lyra Health raise?

    Lyra Health raised a total of $906.13M.

  • Who are the investors of Lyra Health?

    Investors of Lyra Health include Coatue Management, Dragoneer Investment Group, Salesforce Ventures, Institutional Venture Partners, Sands Capital and 19 more.

  • Who are Lyra Health's competitors?

    Competitors of Lyra Health include moka.care, Brightline, MindFi, Big Health, Pace Group, Dialogue, Ieso Digital Health, Valera Health, Spring Health, Alma and 13 more.

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