Lytica, an Ottawa, Canada-based world’s only provider of electronic component spend analytics and risk intelligence using real customer data, announced that it closed over $13 million in Series A funding.
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.
Lytica has been growing quickly with a customer-centric business transformation to a state-of-the-art SaaS and data services platform.
Company: Lytica Inc.
Raised: $13.0M
Round: Series A
Funding Month: Aug 2022
Lead Investors: Resolve Growth Partners
Additional Investors: York IE
Company Website: https://lytica.com/
Software Category: Supply Chain Analytics
About the Company: Lytica is an electronic component spend analytics and risk intelligence company that uses real customer data to help companies make their supply chains more 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. Lytica enables unprecedented levels of cost reduction for many of the world’s leading electronics OEM and EMS companies. Lytica has enjoyed high recurring revenue with its unique cost benchmarking methodology for electronic components. With customers worldwide in the electronics market, Lytica has transitioned toolsets to the SupplyLens™ platform offering an integrated online environment. Fortune 500 and blue-chip companies around the world rely on Lytica to find better prices and better manufacturers and suppliers.
Source: https://lytica.com/lytica-raises-series-a-investment-round-led-by-resolve-growth-partners-with-york-ie/