David Ebersman, Facebook’s longtime executive who stepped down as company’s CFO last year, has launched a new start-up aiming to help people with mental health issues. Ebersman had joined Facebook in 2009 and led the social media giant into its initial public offering in May 2012.
The new start-up called Lyra Health aims to create software solutions and analytics platforms to improve treatment of a range of mental health issues, including depression and substance abuse. The California-based
start-up is financially backed by Ebersman and the venture capital firm, Venrock.
According to Ebersman, “In the current system, far too many patients are undiagnosed, and those who are diagnosed aren’t getting the right treatment.” He points to the current deficits in mental health diagnostics, saying that, “Depression and anxiety are very high on the list in terms of cost drivers and issues that negatively affect productivity.”
In summer of 2014, Ebersman stepped down as Facebook’s Chief Financial Officer, two years after steering one of the largest IPO in the Wall Street’s history. Soon after leaving Facebook Ebersman announced his intentions of returning back to healthcare industry.
Ebersman is no stranger to healthcare industry. From 1994 to 2009 he worked in different positions at California-based Genentech, a biotechnology company and subsidiary of Roche.
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