What is Lyric?
Lyric aims to redefine the travel experience by offering a unique blend of luxury apartment amenities and hotel services, integrated with full office productivity features. Positioned as the premier platform for creative suites, Lyric targets business, personal, and social travelers seeking a localized, high-productivity stay. The company is currently in its pre-launch phase, developing its platform which includes websites and mobile applications designed to deliver this innovative accommodation model.
How much funding has Lyric raised?
Lyric has raised a total of $175.5M across 2 funding rounds:
Series A
$15.5M
Series B
$160M
Series A (2018): $15.5M with participation from The NFX, Fifth Wall, New Enterprise Associates, Barry Sternlicht, and AXA Strategic Ventures
Series B (2019): $160M led by SineWave, Tishman Speyer, Tusk Ventures, Adam Bain, Fifth Wall, Obvious Ventures, New Enterprise Associates, Dick Costolo, Barry Sternlicht, RXR Realty, Airbnb, and SignalFire
Key Investors in Lyric
Tishman Speyer
Tishman Speyer, founded in 1978 and headquartered in New York City, is a global real estate owner, developer, operator, and manager.
Fifth Wall
Fifth Wall is the largest venture capital firm focused on technologies for the global real estate industry, connecting real estate owners with technology entrepreneurs.
New Enterprise Associates
New Enterprise Associates (NEA), established in 1977 and headquartered in Menlo Park, California, is a venture capital firm dedicated to supporting entrepreneurs in building businesses.
What's next for Lyric?
With a major enterprise-level funding context and a recent strategic investment, Lyric is poised for significant scaling and market expansion. The substantial capital raised suggests a focus on product development, operational build-out, and aggressive market entry. Future strategies will likely involve refining the "Creative Suites" concept, expanding the platform's reach, and solidifying partnerships within the travel and real estate industries. Continued investment will be crucial for establishing Lyric as a leader in the evolving landscape of business and leisure travel.
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