PLUS Capital Participates in Lyra’s Series D Financing, Completed as Mental Health Needs Surge

Nov 20, 2020

By The Lyra Team

BURLINGAME, Calif. – Nov. 20, 2020 – PLUS Capital, along with a collective of well known artists & athletes passionate about mental health, today announced their investment in Lyra Health to ensure that more workers and their families have access to exceptional mental health care as behavioral health needs surge amid the ongoing coronavirus pandemic. The investment was part of Lyra’s  Series D funding round announced earlier this summer and will  support the development of potentially life-changing mental health care solutions for companies and their workforces. The artists and athletes who invested alongside PLUS Capital include actors Cameron Diaz and Nicole Kidman and athletes including Paul George, Klay Thompson, Tony Gonzalez, Aaron Gordon, Nolan Arenado, Isaiah Thomas, and Khris Middleton. 

“We are excited to have the support of these artists, athletes, and PLUS Capital who recognize the urgent mental health challenges employees and their families face today and the momentous opportunity to transform the broken behavioral health care system,” said Lyra CEO and co-founder David Ebersman.

“During these hard times, everybody needs to take care of themselves first and support one another,” said Paul George. “Most people can’t afford professional help. Employers who provide mental health benefits for people who otherwise can’t afford them is good for both the individual and the company.”

PLUS Capital, the venture infrastructure for 50 elite artists, athletes, cultural leaders and their trusted teams, believes strongly in Lyra’s mission to transform mental health care with technology and a human touch, and recognize that this type of care remains out of reach for far too many people. “At a time when mental health is more needed than ever, Lyra Health is helping the lives of millions of people who normally couldn’t access this care,” said Plus Capital founder and managing partner Adam Lilling. “We are excited to support this mission with David and the Lyra Health team.” 

The decision to invest in Lyra comes as a growing number of Americans grapple with the mental health fallout from the COVID-19 pandemic, economic crisis, and historic social unrest. 

Along with the recent Series D financing round led by Addition, the new investment from PLUS will help enable Lyra to pursue the following goals:

  • Invest more in innovative offerings such as our peer review research-backed Blended Care Therapy program, which pairs live video therapy sessions with personalized digital lessons based in cognitive behavioral therapy (CBT)
  • Expand our offering to more specifically address different behavioral health needs, such as alcohol use disorder
  • Connect even more people with exceptional, culturally competent care that is personalized to their needs

Read on to learn more about PLUS Capital’s investment in innovative, evidence-based mental health care. 

About Lyra Health

Lyra Health, a provider of innovative mental health benefits for more than 2 million U.S. employees and dependents, is transforming mental health care by creating a frictionless experience for members, providers, and employers. Using matching technology and an innovative digital platform, Lyra connects companies and their employees–plus spouses and children–to world-class therapists, mental health coaches, and personalized medication prescribing. Leading self-insured employers partner with Lyra to tailor value-driven mental health benefits programs specific to their workforce. With Lyra, companies can offer employees fast, reliable access to clinicians who practice evidence-based mental health care approaches that have been proven effective. 

About PLUS Capital

PLUS Capital™ is the venture capital infrastructure trusted by elite artists, athletes, cultural leaders, and their teams to invest in and build transformative companies that are better for the planet and the beings that are on it. Located in Marina Del Rey, California, PLUS Capital is a division of PLUS™, which provides venture capital, investment banking and start-up advisory to more than 50 individuals from film, television, music, sports, and culture; individuals who can affect more change in the world in a day than most people can in a lifetime.