The company plans to use the funding to extend its mental health coaching services globally. Here are the top-line bullets you need to know.
Lyra Health, a behavioral health care platform for employers, has raised $200M in a Series F. The round drew participation from Coatue Management and Sands Capital, among others.
How’s the company performing?
- California-based Lyra Health provides mental health benefits by applying analytics and screening tools to identify employees and dependents who need care.
- The company’s curated network has more than 2.5M members, 85,000 global providers, and 5,000 mental health professionals in the US.
- Its clients include eBay, Genentech, Morgan Stanley, Zoom, Uber, and VCA Animal Hospitals.
- Lyra has partnered with a global employee assistance program provider, ICAS.
Source: Lyra Health
Why does the market matter?
- The telemental health market is projected to grow at a CAGR of 24.65% and reach a value of $15.15B by 2026, according to Databridge Market Research.
- The Covid-19 pandemic resulted in the increasing demand for virtual mental health counseling and support services to combat the increasing incidence of psychological and mental disorders.
