+12%

est. 2Y upside i

HealthcareSeries D+

Mental health benefits platform for workforce well-being

Rank

#1323

Sector

Digital Health / Mental Health Benefits

Est. Liquidity

~2Y

Data Quality

Data: Medium

Lyra is the leading employer mental health platform with exceptional growth (112% YoY on $235M rev) and marquee clients. $927M raised creates preference stack risk but $5.58B val may be justified if growth sustains.

Last updated: March 21, 2026

Bull (30%)+200%

$500M+ rev by 2027. IPO at 8-12x rev ($4-6B). EAP replacement accelerates globally.

Base (45%)+50%

$350M rev. IPO at 6-8x ($2.1-2.8B). Below $5.58B peak but solid.

Bear (25%)-40%

Digital health multiple stays compressed. Spring Health competes. IPO below $2B.

Est. time to liquidity~2.0 years
Adjusted for competitive dynamics: 81% (raw: 12%, adjustment: +8%)

Preference Stack Risk

high

Funding Intensity

17%

$927M raised on $5.58B; 16.6% intensity. Manageable if growth continues.

Dilution Risk

moderate

Pre-IPO; standard IPO dilution.

Secondary Liquidity

limited

Pre-IPO secondary possible.

G&A — 3 roles

International Provider Jobs — 2 roles

People — 2 roles

Product & Design — 2 roles

Provider Network Ops — 2 roles

Business Development — 1 role

View all 275 open roles at Lyra Health →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on Lyra Health's data — designed to show you've done your homework.

  • 1

    “Path to profitability?”

  • 2

    “$5.58B val: current 409A?”

  • 3

    “Spring Health competitive win rate?”

Cluster Peers

Expected Upside

Lyra Health
+12%
Spring Health
-36%
Calm
-59%
Cerebral
-84%

Community

Valuation Sentiment

Our model estimates +12% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.