#USA #AI Technology #Sunnyvale #Supply Chain #Lyric

Lyric Secures $43.5 Million in Series B Funding

In an exciting development for the world of supply chain management, Lyric, an innovator in AI-powered solutions, has recently announced the successful closure of a $43.5 million Series B funding round. The financing, led by the esteemed global software investor Insight Partners, also saw contributions from Primary Venture Partners, Permanent Capital Ventures, VMG Partners, PSP Growth, and NewBuild Venture Capital. This financial boost is set to accelerate Lyric’s ambitious plans to transform decision-making processes within the supply chain realm.

Significant Growth and Increased Adoption

Lyric has demonstrated significant momentum since its emergence from stealth mode just 18 months ago. Impressively, the company has seen a remarkable 500% growth in revenue, fueled by increasing enterprise adoption among Fortune 500 companies across a diverse range of sectors. This swift expansion highlights the growing demand for AI-driven technologies designed to optimize supply chain efficiency.

The challenges supply chain professionals face today are numerous – they are under immense pressure to make swifter, smarter decisions than ever before. Outdated tools can hinder this progress, limiting the ability to engage with data effectively. As highlighted by Gartner, many existing tools lack the necessary augmentation and automation that would allow for meaningful analytics and faster, more informed decision-making.

Introducing Lyric Studio

To combat these persistent challenges, Lyric has introduced Lyric Studio, a revolutionary composable platform designed to empower users to tailor decision-making intelligence according to their unique business needs. Lyric Studio integrates seamless data management, a comprehensive library of algorithms, and an easy-to-use workflow builder – all aimed at delivering advanced analytics to business users with ease and precision.

One satisfied customer, Natesh Rao, a Supply Chain Leader at Mondelēz International, remarked on their transition to Lyric: "We chose Lyric as our next-generation supply chain design platform after thorough assessment. Within a brief period, we are already expanding our capabilities into many unique use cases with the speed and agility to meet our strategic objectives. Lyric's exceptional algorithmic horsepower and highly skilled technical team has been instrumental in this success."

Future Investments and Vision

The influx of capital from the recent funding round is earmarked for several critical initiatives. Firstly, Lyric plans to expand its product roadmap and enhance its library of reusable supply chain logic. Secondly, the company aims to deepen its capabilities in AI-driven experimentation, simulation, and automation, further refining the user experience.

Investments will also be directed toward improving customer success, onboarding, and community programs, crucial as Lyric scales its platform to accommodate global supply chain teams.
"This investment is more than a milestone; it is a signal," stated Ganesh Ramakrishna, Co-Founder and CEO of Lyric. He emphasized the growing complexity and volatility of modern supply chains and the need for dynamic solutions that can adapt seamlessly to an ever-evolving landscape.

Looking Ahead to Empower 2025

In an effort to present its innovative capabilities and future vision, Lyric will unveil new features at its annual conference, Empower 2025, taking place in Chicago on August 13–14, 2025. This event aims to bring together supply chain leaders to discuss the transformative possibilities in an AI-driven, composable future.

Teddie Wardi, Managing Director at Insight Partners and a new member of Lyric's board, summarized the sentiment surrounding this venture succinctly: "We believe supply chain decision making is overdue for reinvention. Lyric's platform-first approach delivers the flexibility and intelligence companies have been seeking for years. We are excited to back the team as they scale globally."

For more insights on Lyric and its remarkable trajectory, visit lyric.tech.