Cash Flow: Lyra Health’s $187M Round, The Honest Co. Files For IPO?, Supplement Brand Heights Lands $2M

The game-changing investment, acquisition and funding news impacting the industry and driving the business of wellness this week.

Lyra Heath completes $187m round to advance mental health care

Lyra Health, a provider of comprehensive mental health care benefits for employers, has announced the completion of a Series E financing round of $187m. 

Addition led the round and was joined by new investors Durable Capital Partners LP, Fidelity Management & Research Company, and Baillie Gifford, along with other existing investors. This financing will enable Lyra to further expand its investments in pioneering tech-enabled mental health care, a growing and diverse provider network, and new partnerships to support the world’s largest global organisations.

Kate Farms adds to Series B funding round

Kate Farms, a company bringing plant-based nutrition into healthcare, has announced that Main Street Advisors has joined Goldman Sachs and Kaiser Permanente Ventures in its Series B funding round, bringing the final raise to $60m.

The Series B funds will help fuel Kate Farms’ growth to bring its higher standard plant-based liquid nutrition to those in need while driving overall innovation and expansion of the business. As Kate Farms continues to define the plant-based category in the medical community, the company is experiencing its fourth year of sustained growth

The Honest Co. files for IPO?

Jessica Alba’s The Honest Co., known for its clean baby and beauty products, is said to be preparing to go public, according to Bloomberg.

It could seek a valuation of about $2 billion in an IPO, sources told the publication. It had been exploring a sale earlier that could value it at about $1 billion.

Launched in 2012, The Honest Company is a mission-driven consumer products company dedicated to inspiring people to love living consciously. Its products are available via honest.com, in North America at more than 32,000 retail locations, in Canada through Shoppers Drug Mart and in Europe at select Douglas and Boots retail locations. 

Brain boosting supplement brand Heights lands $2m

Heights, a ‘braincare’ startup selling brain-boosting supplements has raised $2m in a Seed funding round via crowdfunding platform Seedrs. The round also included participation from institutional investor Forward Partners, and angel investors including Tom Singh (founder of New Look), Damian Bradfield (WeTransfer), Dhiraj Mukherjee (Shazam), Renee Elliot (Planet Organic).

The capital has been earmarked for customer growth and new product development.

Talent Hack’s B2C fitness platform Spaces raises $4.7m

Talent Hack’s a B2C fitness platform Spaces has raised $4.7m in a seed round, led by Global Founders Capital. Mindbody co-founder Rick Stollmeyer and Hannah Bronfman also participated in the raise.

The company, which has been operating since January 2019, currently boasts more than 50,000 fitness professions using its service. It plans to use the capital to increase its marketing, improve the customer experience and expand recruiting.

Metabolic health Startup Calibrate secures $22.5m

Calibrate, a metabolic health platform that helps users lose weight has secured $22.5m in a  Series A funding round led by Threshold Ventures, with participation from Forerunner Ventures and Redesign Health.

The company plans on using the new funds to grow its business.

“This investment will allow us to continue to expand our technology platform, powering the delivery of best-in-class clinical outcomes through compelling consumer product, purpose-built tools for integrated clinical care and coaching, and the data infrastructure for real-world evidence,” Isabelle Kenyon, Founder & CEO at Calibrate, said in a statement.