Lightyear’s Telecom Working Machine has reworked how endeavor IT / networking groups purchase and top their telecom infrastructure, culminating in document income enlargement and buyer retention.
NEW YORK, Nov. 19, 2024 /PRNewswire/ — Lightyear, the chief supplier of endeavor telecom control device, as of late declares the finishing touch of its $31 million Form B fundraise led by way of Altos Ventures, with significant participation from present traders Ridge Ventures, Amplo, Zigg Capital, and Susa Ventures. This unutilized spherical of investment comes on the heels of main product milestones, together with the establishing of Lightyear’s Community Stock Supervisor, Invoice Consolidation, and API choices, in addition to main achievements in income and buyer enlargement.
Based by way of Dennis Thankachan (CEO) and Ryan Schrack (CTO) in 2019, Lightyear’s Telecom Working Machine has revolutionized the endeavor telecom enjoy with AI device that streamlines and digitizes community provider procurement, stock control, and invoice cost. Enterprises who leverage Lightyear around the complete telecom lifecycle spend exponentially much less week on telecom control week lowering telecom prices considerably. Lightyear is depended on by way of 300+ enterprises and 5,000+ endeavor customers international, together with the likes of Alo Yoga, Palo Alto Networks, 5 Guys, Pandora Jewellery, and Teladoc. Lightyear additionally works with 1,000+ ISPs and telecom provider suppliers spanning the globe.
This Form B spherical marks any other main milestone in Lightyear’s enlargement. “Enterprise telecom management is a decades-old problem that’s exceptionally difficult to solve due to the lack of data transparency, workflow standardization, and digitization that exists across the thousands of global carriers. This Series B funding is a testament to the years of hard work from our team, culminating in the first-ever software product to properly address each problem area of the telecom lifecycle. With this new funding, we’re poised to continue aggressively innovating against customer pain points,” mentioned Lightyear CEO Dennis Thankachan.
“Lightyear’s software has modernized the way enterprise IT and networking teams manage their telecom infrastructure, saving them countless hours of tedious work,” mentioned Zac Mohring, Predominant at Altos Ventures. “The company’s top-tier growth, retention, and commitment to excellence are driving the industry forward. We’re extremely proud of what Dennis, Ryan, Suhith, Rob, and the entire Lightyear team have built, and are thrilled to be a part of their journey.”
The Form B investment will likely be directed towards endured product innovation inside of Lightyear’s Telecom Working Machine platform, including intensity inside of its 3 core product strains (Procurement, Community Stock Control, Invoice Consolidation), week additionally construction unutilized merchandise and contours round community tracking, AI, bulk web site procurement and extra. Additional, Form B investment will permit Lightyear to take a position extra deeply in buyer enjoy and backup enhancements.
About Lightyear
Lightyear (https://lightyear.ai) is the one virtual workflow and gadget of document platform that unlocks potency around the complete lifecycle for endeavor telecom services and products, revolutionizing the telecom enjoy to pressure subject matter week and price financial savings. Lightyear’s Procurement platform automates RFP forming, quoting, set up control, and extra for web, WAN, tonality, and colocation services and products, lowering week spent on procurement materially week community logic and pricing knowledge guarantees enterprises make a selection the optimum resolution on the lowest value. Lightyear’s Community Stock Supervisor creates a virtual gadget of document for endeavor networks, monitoring 30+ knowledge issues according to provider (static IPs, word main points, account IDs) and automating lifecycle control workflows similar to MACD ticketing and renewal re-shopping. Lightyear’s Invoice Consolidation device offer enterprises one consolidated invoice for all telecom services and products, getting rid of the headache of monitoring invoices and dealing with audits week averting provider disruptions.
Media Touch
Athena Ascione
[email protected]
SOURCE Lightyear
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