Funding round
Lyra Health Series E
Lyra Health, which works in workforce mental health benefits services in Burlingame, raised $187M in a Series E round announced on 28 Jan 2021, led by Addition, at a $2.30B post-money valuation. 4 firms took part, 1 of them already investors. It is Lyra Health's fourth venture round on record; the one before was a Series D in Aug 2020.
$187M
Amount raised
$2.30B
Post-money valuation
$2.11B pre-money
4
Investors
1 lead
2.1x
Step-up from the Series D
$1.10B in Aug 2020
8.1%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Lyra Health at $2.30B after the new money, 2.1 times the $1.10B of its Series D (Aug 2020). The $187M bought investors about 8.1% of the company. It came 5 months after Lyra Health's Series D. It is 23% of the $812M Lyra Health has raised in the venture rounds on record. Lyra Health raised again 5 months later: a Growth round of $200M in Jun 2021, at $4.60B 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 25 Aug 2020, led by Addition $110M$1.10B post-money
- Series E this round 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 3 other firms. Addition had backed Lyra Health before.
Lead investor
- Addition existing investor
Also in the round
- Durable Capital Partners backs 39 venture-backed companies new investor
- Fidelity Management & Research Company new investor
- Baillie Gifford new investor
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 E rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Psychologists & Counseling Services | 24 Mar 2021 | $100M | $1.10B | Blackstone |
| Food delivery | 25 Jan 2021 | $530M | not disclosed | ICONIQ Growth and ICONIQ Capital |
| Grupo QuintoAndar Real Estate - Agents & Managers | 1 Jan 2021 | $300M | $5.10B | not named |
| Tech Companies | 1 Jan 2021 | $288M | $5.40B | EQT |
| Furniture Stores | 7 Jan 2021 | $190M | $1.00B | SoftBank Group and Dynamo Ventures |
| Cockroach Labs Tech Companies | 12 Jan 2021 | $160M | $2.00B | Altimeter |
| Bloomreach Tech Companies | 26 Jan 2021 | $150M | $900M | Sixth Street Growth |
| Health Care Services | 19 Jan 2021 | $132M | $1.50B | GGV Capital and Valor |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Lyra Health raise in its Series E round?
Lyra Health raised $187M in its Series E round, announced in Jan 2021.
Who led Lyra Health's Series E round?
Addition led it, with Durable Capital Partners, Fidelity Management & Research Company and Baillie Gifford.
What was Lyra Health's valuation at the Series E round?
$2.30B post-money ($2.11B pre-money).
Did Lyra Health raise again after this round?
Yes: a Growth round in Jun 2021 of $200M at $4.60B post-money.