Lightyear, a NYC-based provider of software to buy and manage business telecom services (internet, voice, WAN, data center) through a single dashboard, raised $13.1m in Series A funding.
The round was led by Ridge Ventures with participation from Zigg Capital, Barry Sternlicht (CEO of Starwood), Gokul Rajaram (DoorDash exec, Coinbase Board), Michael Rapino (CEO of Live Nation), Marcus Ridgway (Invitation Homes Founder), and Stephen Klenert (Founder of Atlantic Metro), as well as existing investors Amplo, Ludlow Ventures, Susa Ventures, Operator Partners (founders of Flatiron Health), Contrary Capital, and Darco Capital. Ridge Ventures Partner and serial CIO-turned-investor Yousuf Khan will join the Lightyear board.
The company intends to use the funds to boost hiring and resources in development and go-to-market functions.
Led by Dennis Thankachan, Co-Founder and CEO, Lightyear provides a software platform for network infrastructure procurement and management, enabling enterprises to configure, quote, install, and manage their entire telecom presence. The software allows enterprises to buy and manage network infrastructure services such as dedicated internet, WAN connectivity, colocation, and voice systems from a SaaS platform. After a service contract is signed, the platform also helps customers project manage implementations, track network inventory, handle carrier issues post-install, and even automate renewal bidding.
Today, the company boasts 500+ telecom and IT vendor relationships spanning the full suite of enterprise needs and one of the most comprehensive data sets in telecommunications. Customers include Roadrunner Transportation, StockX, Curology, Lime, Campus Apartments, and many more.
FinSMEs
16/07/2021