AI-powered supply chain platform Lyric has raised $43.5 million in a Series B funding round led by Insight Partners, with participation from Primary Venture Partners, Permanent Capital Ventures, NewBuild Venture Capital and new investors VMG Partners and PSP Partners. According to a company news release, this brings the company’s total funding to $67 million.
The funding will support the continued development of Lyric’s AI platform, which is designed to help companies improve how they plan for and respond to changes in supply and demand. Specifically, the company plans to use the investment to expand its algorithm catalog and increase the size of its customer success teams.
As part of the announcement, Lyric also shared that Teddie Wardi, Insight’s managing director, will be joining its board of directors.
