Lyric, a next-generation supply chain intelligence startup, secured $43.5 million in Series B funding. Insight Partners led the round for the company, officially known as ChainBrain Inc. Primary Venture Partners, Permanent Capital Ventures, VMG Partners, PSP Growth, and NewBuild Venture Capital also participated.
This artificial intelligence platform enhances supply chain operations. It improves management and forecasting through advanced modeling and analytics. Lyric's AI supply chain platform helps companies optimize inventory and transportation logistics, increasing overall efficiency. Many businesses struggle with data activities due to outdated tools and a lack of automation.
Lyric Studio, the flagship offering, is a composable platform. It enables customized decision-making intelligence for specific business needs. The platform integrates seamlessly with data platforms, offering an intuitive workflow builder for supply chain management. It also includes a rich library of AI algorithms.
Accelerating AI-Powered Supply Chain Solutions
Lyric reports strong momentum, with revenue growing over 500% since its launch 18 months ago. The company secured multiple Fortune 500 customers, including food and beverages multinational Mondelēz International Inc. This new capital will accelerate Lyric's product roadmap. It will also expand its library of reusable supply chain logic.
Furthermore, Lyric plans to enhance its AI-based automation, experimentation, and simulation tools. The company will also expand its customer success and onboarding teams. Legacy enterprise software platforms often struggle with complex and volatile supply chains, unlike Lyric's adaptive approach. Competitors like SAP and Kinaxis also offer supply chain solutions.
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The funding underscores the demand for flexible, intelligent supply chain platforms.
