Burlingame, California-based Lyra Health has pruned its administrative and management workforce, joining a handful of behavioral health companies to do so in the waning days of 2024. Last week, the business-to-business-focused digital mental health company gave staff notice that it would lay off about 2% of its workforce. The total number of employees impacted totaled […]
Investing in the behavioral health industry has evolved rapidly in the last five years. From dizzyingly high funding levels to dramatic drops in annual totals, the recent past makes visualizing the future a daunting task. But long-term industry trends and emerging investment patterns offer some idea of what direction up-and-coming behavioral health companies are heading. […]
The mental health industry is pivoting after the market’s rapid expansion related to COVID-era telehealth and increased demand for behavioral health services. Mental health providers are now seeking new methods of care, including AI-enabled tools, to improve existing mental health treatment frameworks, industry insiders told Behavioral Health Business. Mental health companies are also seeking new […]
Many behavioral health providers, including Lyra Health, Pyramid and Recovery Centers of America, boast that they offer “evidence-based” care. Evidence-based care typically means that clinicians have been trained in research-backed practices, but there is no consensus in the industry. Thus, the term “evidence-based” may be as helpful in determining quality of care as the “natural” […]
Digital mental health unicorn Lyra Health is expanding its teen behavioral health offerings. The expansion comes as the nation shines a brighter spotlight on youth mental health challenges. Lyra’s employer behavioral health benefits platform will now help teens match with specialized mental health providers. Teens will have access to video-based therapy and between-session digital exercise, […]
Mental health continued to top all digital health investment in 2022’s first half. Yet the entire market may be headed for a potential cooldown, with inflation, global unrest and regulatory uncertainty contributing to more conservative mindsets among investors and founders alike. “Coming off the launch ramp of 2021, digital health founders, funders and corporate execs […]
Following a blockbuster year for digital mental health care investment in 2021, the pressure is on to go big and bold. There have already been a few game-changing acquisitions in the space — the earliest and most defining is the merger of Ginger and Headspace, which created a $3 billion company called Headspace Health during […]
Digital health continued its tear in 2021, as the number of deals and the amount of funding in the space reached record levels. And if mental health had not already proven itself as a major engine driving activity, 2021 definitely underscored that fact. Digital startups based in the U.S. hauled in $29.1 billion over the […]
The chaos that the coronavirus pandemic inflicted on the behavioral health care industry gave way to a new normal in 2021 based on the many lessons learned in the previous year. And an apparent lesson learned by all is that the demand for behavioral health in the U.S. is immense. This apparently spurred on a […]
Behavioral health benefits company Spring Health announced Thursday that it has raised $190 million in a Series C round led by Swedish growth investment firm Kinnevik. The round included a number of participants, including several existing investors, as well as the Guardian Life Insurance Company of America, which is a new investor. Spring Health reported […]
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