Funding Solidifies Supply Chain Market Leadership for Spend Analytics and Risk Management Platform
OTTAWA, ON / ACCESSWIRE / August 30, 2022 / Lytica, the world's only provider of electronic component spend analytics and risk intelligence using real customer data, today announced the close of its Series A investment round, with a total consideration of over $13 million. The round was led by Resolve Growth Partners, with participation from York IE. Lytica intends to use these funds to accelerate product and platform innovation, continue growing its team of specialists, and foster strong industry partnerships.
"As the world's only provider of electronic component spend and risk intelligence based on real customer data, we're proud to make global electronics supply chains more efficient and transparent," said Martin Sendyk, President and CEO of Lytica. "This latest round of funding allows us to scale our operations and provide the best possible experience to our customers."
Lytica has been growing quickly with a customer-centric business transformation to a state-of-the-art SaaS and data services platform. Today's rapidly evolving supply chain landscape demands that electronics companies pursue a cost base advantage. Lytica's models use real pricing data, providing accurate and timely insights tailored to each client's unique situation.
"We were attracted to Lytica's experienced team, unique technology and data, and roster of tier-one customers," said Chris Rhodes, Co-Founder & Partner of Resolve Growth Partners. "We envision a day when every global corporation is using Lytica to enable transparency in electronic component product pricing and for de-risking their supply chains."
Enabled by the world's largest independent database of electronic component intelligence and real-world prices, Lytica provides the data and insights necessary to save customers millions of dollars per year.
"After working with Lytica for two years, it is clear that both the team and technology are a powerful match," said Kyle York, CEO and co-founder, York IE. "Lytica is the answer for the innovative companies ready to mitigate supply chain risk and increase cost competitiveness."
To experience the power of Lytica's SupplyLens™ Pro platform, book a demo today: lytica.com/contact
Lytica is an electronic component spend analytics and risk intelligence company that uses real customer data to help companies make their supply chain more cost transparent, more resilient, and more predictable. Lytica's advanced electronic component market intelligence platform employs machine learning and AI to analyze real-world pricing data, offering true market insights to reduce costs and mitigate supply chain risk. Fortune 500 and blue chip companies around the world rely on Lytica to find better prices and better manufacturers and suppliers. To learn more, visit lytica.com
About Resolve Growth Partners
Resolve Growth Partners is a growth equity firm focused on investing in B2B software companies. Resolve enables passionate, committed entrepreneurs to accelerate growth. Resolve provides expertise and repeatable best practices across talent management, go-to-market and operations. For more information on Resolve, visit resolvegrowth.com
About Resolve York IE
York IE™ is a vertically integrated strategic growth and investment firm helping reshape the way companies are built, scaled and monetized. Through Fuel™, its SaaS platform, hands-on advisory services and selective early stage B2B SaaS investments, York IE supports ambitious entrepreneurs, operators and investors on their quest to scale start-ups and disrupt markets. Play the long game at york.ie
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