What is Lyric?
Lyric aims to redefine the travel experience by offering "Creative Suites" that merge the amenities of luxury apartments and hotels with the full productivity of an office. Positioned as a premier platform for creative professionals and business travelers, Lyric intends to provide a unique local experience designed to maximize business, personal, and social travel. Currently in its pre-launch phase, the company plans to operate through its website and mobile applications, offering a seamless integration of living, working, and experiencing a destination. The company's vision is to cater to the evolving needs of the modern traveler who seeks both comfort and functionality.
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 AXA Strategic Ventures, Fifth Wall, New Enterprise Associates, The NFX, and Barry Sternlicht
Series B (2019): $160M led by SignalFire, Tusk Ventures, Fifth Wall, SineWave, Tishman Speyer, Adam Bain, Dick Costolo, The Obvious, New Enterprise Associates, RXR, Airbnb, and Barry Sternlicht
Key Investors in Lyric
SignalFire
SignalFire is a venture capital firm that leverages data and AI to support early-stage companies, focusing on sectors like healthtech and fintech. They provide strategic insights and operational support to accelerate growth.
Fifth Wall
Fifth Wall is the largest venture capital firm dedicated to proptech, connecting real estate owners with technology innovators to redefine the built environment.
New Enterprise Associates
New Enterprise Associates (NEA) is a prominent venture capital firm established in 1977, dedicated to empowering entrepreneurs in building successful businesses across various industries.
What's next for Lyric?
With its recent major strategic investment, Lyric is poised for significant expansion and development. The substantial capital infusion, indicated by $160M, will likely fuel product development, market penetration, and operational scaling. As the company moves beyond its pre-launch phase, it is expected to focus on refining its platform, building out its network of "Creative Suites," and enhancing its service offerings. The ongoing support from prominent investors suggests a strategic focus on solidifying its market position and potentially exploring new verticals within the travel and hospitality technology landscape. This funding will be critical in executing its ambitious vision.
See full Lyric company page
