We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • INDUSTRY PRESS ROOM
  • SUBMISSIONS
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • CSCMP EDGE 2022 Startup Alley
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • CSCMP EDGE 2022 Startup Alley
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
Home » Lytica Raises $3 Million To Accelerate Transparency And Reduce Risk In The Global Electronics Supply
Press releases are provided by companies as is and have not been edited or checked for accuracy. Any queries should be directed to the company issuing the release.

Upload your press release

Lytica Raises $3 Million To Accelerate Transparency And Reduce Risk In The Global Electronics Supply

Lytica Raises $3 Million To Accelerate Transparency And Reduce Risk In The Global Electronics Supply
August 25, 2021
No Comments

Ottawa, ON - August 25, 2021 - Lytica, the world’s only provider of electronic component spend analytics and risk intelligence using real customer data, today announced it has raised over $3 million USD in equity investment, grants and other funding. York IE, a vertically integrated strategic growth and investment firm, led a $1.5 million equity investment round. This follows recent funding obtained from government related economic development and innovation sources. The company has experienced rapid growth in the past year and continues to grow its recurring revenue base at over 100% per year.

“Since joining the company last year, working with the talented Lytica team and helping realize Lytica's potential has been extremely rewarding. I'm thankful for the opportunity to bring my experience with growing SaaS companies to a team that already had a wealth of knowledge and intellectual property,” said Martin Sendyk, President and CEO of Lytica. “With this new infusion of funding, we’ll be able to scale even faster and better serve our roster of impressive clients.”

Lytica’s SupplyLens™ platform provides customers with the data, insight, and analysis they need to improve procurement and build better, stronger, more resilient supply chains. SupplyLens™ empowers the world’s leading electronics companies to achieve unprecedented levels of cost reduction and risk mitigation, enabled by the world’s largest independent database of electronic component intelligence and real-world prices.

Since introducing its SupplyLens™ platform last year, Lytica has seen rapid adoption from many top Fortune 500 companies that are looking to reduce costs and gain insight into their sourcing and procurement. Lytica plans to use the funding primarily to scale its customer-facing teams and provide even more value for its customers, as well as bolster its AI and machine learning capabilities to expand into additional products and features. The Lytica team, which has embraced remote and hybrid work during the COVID-19 pandemic, is actively hiring.

“As a startup growth firm, we know that the two most important pieces of a successful growing business are market opportunity and team,” said Joe Raczka, co-founder, COO and managing partner at York IE. “It was clear to us from the first time we talked to the leadership at Lytica that they have a wealth of knowledge, an impressive product, and are filling a very important need in the electronic components supply chain. We’re excited to help their growth continue.”

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 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.

https://www.lytica.com/lytica-announces-3m-raise-to-accelerate-growth/
Submit your logistics, material handling, or supply chain related company news in Supply Chain Quarterly's's Industry Press Room section or New Products section
Logistics Manufacturing Technology
KEYWORDS Lytica
  • Related Articles

    Interos Raises $100 Million to Protect Supply Chains from Physical and Cyber Disruption, Child Labor

    Ivalua's Environmental Impact Center Helps Procurement and Supply Teams to Reduce Scope 3 Greenhouse

    Three ways to combat the risk of forced labor in supply chains

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • Survey: most Americans unaware that truckers face shortage of parking spaces

  • Best practices in logistics sustainability

  • Supply chain executives not yet seeing expected results from technology investments

  • Postal Service plans to seize items mailed with fake stamps

  • Inflation drops again as interest rate hikes hit home, NRF says

Featured Video

20221107korber large vs

Enhancing Customer Experience with Your Supply Chain Strategy

Viewer Contributed
With the rise of e-commerce, many businesses have had to transform their warehouses to handle online orders in addition to regularly scheduled inventory shipments. This means warehouses need more information than ever before to ensure they can meet customers' needs. As a result, companies need to select warehouse...

FEATURED WHITE PAPERS

  • Guide to Pallet Rack Safety

  • 3PLs: Complete Orders Faster with Flexible Automation

  • A shipper's guide to navigating post-pandemic holiday freight

  • THE NEW WAY TO WAREHOUSE: 4 Innovations in Automation & Robotics to Boost Warehouse Productivity

View More

Subscribe to Supply Chain Quarterly

Get Your Subscription
  • SUBSCRIBE
  • E-NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2023. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing