Health IT Startup Raises $35M for Mental Health Technology | Healthcare Informatics Magazine | Health IT | Information Technology Skip to content Skip to navigation

Health IT Startup Raises $35M for Mental Health Technology

October 15, 2015
by Heather Landi
| Reprints

Burlingame, Calif.-based Lyra Health, a company that aims to develop technology making it easier for patients to find treatment for mental health conditions and substance abuse, announced it has raised $35 million in Series A financing, in a round led by Greylock Partners and prior investor Venrock.

More than 50 million Americas suffer from mental health conditions or substance abuse, yet only one in seven receives effective care, according to Lyra. The United States spends $100 billion per year treating mental health conditions and substance abuse, and an additional $400 billion on indirect costs associated with these conditions.

In a statement, the company said its technology matches each patient with the best available mental health treatment based on the individual’s unique clinical needs and treatment preferences, evidence-based clinical guidelines and the company’s understanding of provider capabilities. The technology also will connect each patient with a care manager who provides support throughout the treatment, the company said.

The company said it will use the Series A funding to make its technology available to a select group of enterprise and health plan customers in the first quarter of 2016 and anticipates full commercial availability in 2017.

David Ebersman, Lyra Health’s CEO and formerly CFO at Facebook and Genentech, said, “For too long, people suffering from depression, anxiety and substance abuse have had to wander through a system that is extremely difficult to navigate. Effective treatments exist that can help many patients, and our technology enables people to find the right care quickly and easily.”

Topics

News

Appalachia Project to Study Relationship Between Increased Broadband Access, Improved Cancer Care

The Federal Communications Commission and the National Cancer Institute have joined forces to focus on how increasing broadband access and adoption in rural areas can improve the lives of rural cancer patients.

Survey: By 2019, 60% of Medicare Revenues will be Tied to Risk

Medical groups and health systems that are members of AMGA (the American Medical Group Association) expect that nearly 60 percent of their revenues from Medicare will be from risk-based products by 2019, according to the results from a recent survey.

83% of Physicians Have Experienced a Cyber Attack, Survey Finds

Eighty-three percent of physicians in a recent survey said that they have experienced some sort of cyber attack, such as phishing and viruses.

Community Data Sharing: Eight Recommendations From San Diego

A learning guide focuses on San Diego’s experience in building a community health information exchange and the realities of embarking on a broad community collaboration to achieve better data sharing.

HealthlinkNY’s Galanis to Step Down as CEO

Christina Galanis, who has served as president and CEO of HealthlinkNY for the past 13 years, will leave her position at the end of the year.

Email-Related Cyber Attacks a Top Concern for Providers

U.S. healthcare providers overwhelmingly rank email as the top source of a potential data breach, according to new research from email and data security company Mimecast and conducted by HIMSS Analytics.