New capital will be used to accelerate platform development in support of growing customer base and market demand
OTTAWA, ON / ACCESSWIRE / August 13, 2024 / Lytica, the global leader in electronic component spend analytics and risk intelligence using real customer data, today announced the completion of an additional $5 million growth capital investment from Resolve Growth Partners.
The news comes on the heels of major growth in Lytica's customer base, which is comprised of the world's largest electronics manufacturing organizations, and underscores the desire of companies across all industries to overcome the numerous challenges related to effective electronic component pricing negotiation as well as risk mitigation. It also reflects Lytica's unique value in that pursuit as the world's only provider of electronic component spend analytics and risk intelligence built from real customer data.
"Continuing to work closely with Resolve Growth Partners is a natural fit for us and a very exciting step in Lytica's journey," said Martin Sendyk, President & CEO at Lytica. "We've seen such strong demand for our platform that we decided to capitalize on the opportunity by investing in building out even more value-added capabilities and cementing Lytica as the only place in the industry where electronics buyers engage to make their most important decisions around architecting a sustainable, cost-effective electronic component supply chain."
"Resolve has a strong track record in partnering with high-growth, disruptive technology companies and Lytica fits this mold perfectly," states Chris Rhodes, Co-Founder & Partner at Resolve Growth Partners. "The company is addressing some of the largest and most vital challenges that the electronics industry is facing. They have achieved this through a highly differentiated, impactful platform powered by unique IP and a proprietary database. The growth that we've seen as a result of this is impressive and we're excited to continue to support the team in the company's next phase of growth."
The infusion of capital will be used to accelerate the build out of capabilities in Lytica's platform, SupplyLens Pro, in order to further enhance customer value from their investment. This includes additional insights and advanced analytics pertaining to identification of cost-savings opportunities in electronic component supply chains. Additionally, the company will be bringing unique features to market related to identification and mitigation of risk in their customers' supply chains.
To learn more about Lytica, visit https://www.lytica.com/
About Lytica
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, 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 and enabling passionate, committed entrepreneurs to accelerate growth. Resolve provides expertise and repeatable best practices across talent, go-to-market, and operations. For more information on Resolve, visit http://www.resolvegrowth.com.
Media Contact
Anna Stevenson
York IE
anna@york.ie
SOURCE: Lytica
View the original press release on accesswire.com
