Lyric, a leading AI-driven platform for supply chain decision-making, has raised $43.5 million in Series B funding, led by Insight Partners with participation from several other investors.
Since emerging from stealth 18 months ago, Lyric’s revenue has surged by 500%, with enterprise adoption among Fortune 500 companies across various industries.
To address supply chain complexities, Lyric has created Lyric Studio, a customizable platform that integrates data, offers an extensive algorithm library, and features an intuitive workflow builder. This enables business users to access advanced analytics quickly and effectively, improving decision-making in modeling, planning, and innovative applications.
How the funding will be used: The new funding will accelerate product development, expand supply chain logic libraries, and enhance AI capabilities for experimentation and automation, while also investing in customer success and community programs.
KEY QUOTES:
“We chose Lyric as our next-generation supply chain design platform after thorough assessment of multiple considerations. 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 algorithmic horsepower and talented technical team are exceptional.”
Natesh Rao, Supply Chain Leader at Mondelēz International
“This investment is more than a milestone; it is a signal. Supply chains today are too complex and volatile for static software. Leaders need platforms that adapt to them, not the other way around. We are proud to be building the next generation of supply chain infrastructure.”
Ganesh Ramakrishna, Co-Founder and CEO of Lyric
“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.”
Teddie Wardi, Managing Director at Insight Partners and new Lyric board member
