Mental health startup Lyra Health raised $187 million in funding, giving it a post-money valuation of about $2.3 billion. The company also struck a partnership with EAP-provider ICAS, which would expand its mental health benefit to employees in other countries.
Benefits navigation startup Accolade acquired second opinion startup 2nd.MD for $460 million. With little overlap between the two companies, the deal is expected to increase Accolade’s total addressable market by $22 billion.
A subsidiary of Northwell Health is partnering with Whole Foods Market to offer its New York-based employees access to seven primary care locations. The supermarket chain’s employees will not be subject to a deductible or co-pay.
A subsidiary of Northwell Health has collaborated with the virtual care company to offer businesses a Covid-19 screening tool for their workers. The tool helps identify employees who may have been exposed to the new coronavirus or those showing symptoms of the disease and suggests next steps.
Amazon, which opened a primary care clinic for employees in June, has added four more such clinics — all operated by medical group Crossover Health. The new clinics are based in Texas, but Amazon plans to open more locations in Arizona, Kentucky and Michigan over the next year.
Spring Health, a startup that offers mental health services as an employee benefit, raised $75 million in funding. The New York-based startup matches employees with therapy and other mental health services.
Employers, faced with a plethora of options for return-to-work programs, will still have to consider several factors beyond testing and contact tracing. For instance, how will they communicate for employees to stay home, and will a vaccine be required?
Insurance startup Bind Benefits just raised $105 million in a Series B funding round to further expand into the fully insured market. CEO Tony Miller sees the company’s health plan product as a way for employers to stay agile while offering insurance in a rapidly changing world.
Nice Healthcare, a Minnesota-based startup that offers telemedicine and primary care services, raised $5 million in seed funding. The company plans to use the funds to bring its benefits to businesses in more states.
Among the areas of interest for employee benefits startups that presented in our Pitch Perfect contest are: electronic patient care records, behavioral health, caregiver support and substance abuse treatment.
The INVEST Digital Health Virtual conference Pitch Perfect competition, from September 21-25, had some intense competition between the healthcare startup participants. Thanks to all the entrepreneurs, judges and sponsors who took part.
Mental health startup Lyra Health raised a $110 million series D, valuing the company at $1.1 billion. The company plans to use the funds to expand its teletherapy service and develop additional mental health solutions.
Carrot Fertility, a startup that provides employee fertility benefits, raised $24 million in a series B round. The company plans to use the funds to further its expansion and build out its telehealth features.