Lyra Health provides behavioral healthcare solutions that include an online telepsychiatry platform with access to a network of therapists and psychiatrists. The company was co-founded in 2015 by David Ebersman (former CFO at Facebook), Bob Kocher, and Bryan Roberts. Lyra Health mainly caters to the B2B market, where it partners with companies (clients include Starbucks, eBay, Amgen, Netapp, Uber, Genentech, ServiceNow, and Apache) to provide employees and their families with easy access to effective mental health care. As of May 2021, Lyra’s network had more than 5,000 clinicians and served 2.2 million members.

Lyra Health covers mental illnesses ranging from mild to severe cases through a wide range of care options including coaching, therapy, psychiatry, and medication. These care options are delivered through self-guided programs, in-person chats, live video chats and even onsite options at employee premises. As for service delivery, the company partners with behavioral health coaches and therapists who can link their practices to Lyra Health’s platform. Users initially sign up and complete a clinical assessment, the platform’s analytical tools then match users with the relevant coaches or therapists. Lyra also conducts a progress check to find out if the user is actually benefiting from care options.

Lyra completed two funding rounds within the first 5 months of 2021, raising USD 187 million in January and USD 200 in May, which brought total funds raised to USD 675 million. The funds will help accelerate Lyra’s global expansion drive and will be invested in developing new solutions for enterprises and mental health providers across 180 countries. The company plans to facilitate this expansion through its recent partnership with international employee assistance program provider ICAS World. Lyra also plans to launch a new, global, digital platform in 2022 that would provide integrated mental healthcare solutions including preventive care, mental health coaching, therapy, meditation, and medication.