Lyra Health, Big Health and Mantra Health raise a combined $332M to commercialize digital therapeutics for mental/ behavioral health

Lyra Health scores $235M and buys employ­ee assis­tant pro­gram ICAS World (Mobi­Health News):

Employ­er-focused dig­i­tal men­tal health provider Lyra Health announced a whop­ping $235 mil­lion Series F round led by Drag­oneer. Sales­force Ven­tures and Coat­ue also par­tic­i­pat­ed. This new infu­sion of cash brings the com­pa­ny’s total raise to over $900 million.

The fund­ing coin­cid­ed with the news that Lyra Health is acquir­ing employ­ee-assis­tant pro­gram ICAS World for an undis­closed sum. ICAS was found­ed in 1987 and pro­vides coach­ing and coun­sel­ing ser­vices to employ­ees. The ser­vice offers phone, face-to-face or web-based treatment.

Big Health hauls in $75M to ramp up com­mer­cial­iza­tion, launch new dig­i­tal men­tal health ther­a­peu­tics (Fierce Healthcare):

Big Health, the mak­er of app-based dig­i­tal ther­a­peu­tics for insom­nia and anx­i­ety, has locked in a $75 mil­lion series C fund­ing round head­ed by Soft­Bank Vision Fund 2.

The San Fran­cis­co-based com­pa­ny said it plans to use the new mon­ey to ramp up its com­mer­cial growth and prod­uct strat­e­gy, set­ting a ten­ta­tive goal to launch six new dig­i­tal ther­a­peu­tics by 2024 …

Found­ed in 2012, the com­pa­ny made its name with a cog­ni­tive behav­ioral ther­a­py app called Sleepio. Designed to help users’ poor-qual­i­ty sleep and insom­nia, the dig­i­tal tool has seen a wealth of employ­er adop­tion and sup­port­ive clin­i­cal evi­dence over the years, lead­ing the com­pa­ny to release a fol­low-up for insom­nia, called Day­light, in ear­ly 2019.

Dig­i­tal Men­tal Health Clin­ic Mantra Health Secures $22M to Sup­port Uni­ver­si­ty Stu­dents (HIT):

Mantra Health, the pre­em­i­nent dig­i­tal men­tal health clin­ic focused on young adults, today announced a $22 mil­lion Series A invest­ment, led by VMG Part­ners. The round includes new investors New Mar­ket Ven­ture Part­ners, Ele­ments Health Ven­tures, 14W, and Alum­ni Ven­tures. Return­ing investors includ­ed Canaan Part­ners, Glob­al Founders Cap­i­tal, Bale­on Cap­i­tal, West­ern Tech Invest­ments, and City Light Capital.

The com­pa­ny plans to use the invest­ment pro­ceeds to help grow the dig­i­tal men­tal health clinic’s diverse provider net­work, launch new clin­i­cal prod­ucts, and expand its insur­ance partnerships.

News in Context:

• Head­space and Gin­ger merge to expand and scale up dig­i­tal men­tal health
• The land­scape of dig­i­tal men­tal health apps: huge unmet needs, qual­i­ty con­cerns, app stores asked to ensure transparency
• The Nation­al Acad­e­my of Med­i­cine (NAM) shares dis­cus­sion paper to help empow­er 8 bil­lion minds via the eth­i­cal adop­tion of dig­i­tal men­tal health and neurotech