Funding round
Lyra Health Series D
Lyra Health, which works in workforce mental health benefits services in Burlingame, raised $110M in a Series D round announced on 25 Aug 2020, led by Addition, at a $1.10B post-money valuation. 11 firms took part. It is Lyra Health's third venture round on record; the one before was a Series B in May 2018.
$110M
Amount raised
$1.10B
Post-money valuation
$990M pre-money
11
Investors
1 lead
10%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Lyra Health at $1.10B after the new money. The $110M bought investors about 10% of the company. It came 27 months after Lyra Health's Series B. It is 14% of the $812M Lyra Health has raised in the venture rounds on record. Lyra Health raised again 5 months later: a Series E round of $187M in Jan 2021, at $2.30B post-money.
Lyra Health's funding rounds
Lyra Health has 6 venture rounds on record. This one is highlighted.
- Series A 14 Oct 2015, led by Greylock Partners and Venrock $35M
- Series B 7 May 2018 $45M
- Series D this round 25 Aug 2020, led by Addition $110M$1.10B post-money
- Series E 28 Jan 2021, led by Addition $187M$2.30B post-money
- Growth 15 Jun 2021, led by Coatue $200M$4.60B post-money
- Series F 19 Jan 2022, led by Dragoneer Investment Group $235M$5.90B post-money
Investors
Who put money in
Addition led the round with 10 other firms.
Lead investor
- Addition new investor
Also in the round
- Adams Street Partners backs 61 venture-backed companies new investor
- backs 54 venture-backed companies new investor
- backs 44 venture-backed companies new investor
- Greylock Partners backs 190 venture-backed companies new investor
- Institutional Venture Partners backs 109 venture-backed companies new investor
- Meritech Capital backs 84 venture-backed companies new investor
- backs 9 venture-backed companies new investor
- backs 34 venture-backed companies new investor
- Starbucks chairman emeritus and former CEO Howard Schultz
- backs 77 venture-backed companies
Joined the board: Kerry Chandler (Endeavor).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 1 in Psychologists & Counseling Services, then Series D rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Psychologists & Counseling Services | 10 Aug 2020 | $50M | not disclosed | Advance Venture Partners and Bessemer Venture Partners |
| Gong Tech Companies | 12 Aug 2020 | $200M | $2.20B | Coatue |
| Emeritus Professional & Management Training | 31 Aug 2020 | $113M | $800M | Leeds Illuminate and Prosus Ventures |
| Dataiku Tech Companies | 1 Aug 2020 | $100M | not disclosed | Stripes |
| Synthego Pharmaceutical Products | 26 Aug 2020 | $100M | $487M | 8VC and RA Capital |
| Biotechnology | 5 Aug 2020 | $71M | not disclosed | Koch Disruptive Technologies |
| Professional & Management Training | 10 Aug 2020 | $66M | not disclosed | OMERS Growth Equity |
| Tech Companies | 11 Aug 2020 | $60M | not disclosed | Activate Capital and Glade Brook |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Lyra Health raise in its Series D round?
Lyra Health raised $110M in its Series D round, announced in Aug 2020.
Who led Lyra Health's Series D round?
Addition led it, with Adams Street Partners, Casdin Capital, Glynn Capital, Greylock Partners and Institutional Venture Partners and 5 more.
What was Lyra Health's valuation at the Series D round?
$1.10B post-money ($990M pre-money).
Did Lyra Health raise again after this round?
Yes: a Series E round in Jan 2021 of $187M at $2.30B post-money.