Lyric Raises $43.5M Series B to Advance AI Supply Chain Platform
Lyric, an AI-driven supply chain intelligence startup, secured $43.5 million in a Series B funding round led by Insight Partners. Additional investors included Primary Venture Partners, Permanent Capital Ventures, VMG Partners, PSP Growth, and NewBuild Venture Capital. This funding aims to accelerate product development and broaden its AI-based supply chain solutions.
Officially operating as ChainBrain Inc., Lyric focuses on improving supply chain operations through advanced modeling and analytics. Its platform enhances inventory management and transportation logistics, helping companies boost efficiency. Many organizations still rely on outdated tools and lack automation, leading to challenges in handling supply chain data effectively.
Lyric Studio: A Composable AI Platform for Supply Chain Decisions
At the core of Lyric’s offering is Lyric Studio, a composable platform that allows businesses to create customized decision-making intelligence based on their specific needs. The platform integrates smoothly with existing data systems and features an intuitive workflow builder tailored for supply chain management. It also offers a comprehensive library of AI algorithms to support various supply chain functions.
Fueling Growth and Enhancing AI Capabilities
Lyric reports impressive growth, with revenue increasing more than 500% since launching 18 months ago. The startup has attracted multiple Fortune 500 clients, including Mondelēz International Inc., a global leader in food and beverages. The new capital will push forward Lyric’s product roadmap, expand its library of reusable supply chain logic, and improve AI-driven automation, experimentation, and simulation tools.
Additionally, Lyric plans to grow its customer success and onboarding teams to better support its expanding client base.
Addressing Limitations of Traditional Enterprise Software
Unlike legacy enterprise software platforms that often struggle to handle complex and volatile supply chains, Lyric offers an adaptive and flexible approach. While competitors such as SAP and Kinaxis provide supply chain solutions, Lyric’s AI-powered platform meets the increasing demand for intelligent and customizable tools.
- Funding Amount: $43.5 million Series B
- Lead Investor: Insight Partners
- Other Investors: Primary Venture Partners, Permanent Capital Ventures, VMG Partners, PSP Growth, NewBuild Venture Capital
- Key Client: Mondelēz International Inc.
- Revenue Growth: Over 500% since launch
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