About Lyric
Lyric is a King of Prussia-based provider of payment integrity software for healthcare payers. Its platform applies clinical edits derived from American Medical Association guidelines, Centers for Medicare and Medicaid Services rules, and specialty society standards to scrutinize claims at scale. Healthcare organizations use Lyric's tools to detect overpayments, prevent improper reimbursements, and streamline revenue cycle management. The company delivers analytics dashboards for performance tracking alongside professional services that customize implementations for health plans and insurers across the United States.
Founded
2007
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Subscription
Valuation
$2.2B (acquired Apr 2022)
Lyric Acquisition
Lyric was acquired by TPG for $2.2B on 25 April 2022.
Before the acquisition Lyric had raised $91M across 1 funding round.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 25 Apr 2022 | PE buyout | $2.2B |
Lyric Funding History
Lyric has raised a total of $91M across 1 funding round.
Lyric funding rounds
| Date | Stage | Raised | Deal Summary |
|---|---|---|---|
| Aug 2023 | Undisclosed stage | $91M | Founded in 2022 and headquartered in Sunnyvale, CA, Lyric positions itself as next-generation infrastructure for complex, volatile supply chains, emphasizing adaptability over static software. The company offers Lyric Studio, an AI-powered composable platform for modeling, planning, and operating supply chains using machine learning optimization, handling large data volumes for actionable insights. It targets enterprise supply chain teams across planning, logistics, and inventory. Lyric reported revenue growth exceeding 500% since launching around 18 months before the 2025 Series B (approximately early 2024), with adoption by multiple Fortune 500 customers including Mondelēz International across industries like food and beverages. This appears to follow a prior Seed VC round on August 7, 2023. In August 2025, Lyric announced a $43.5M Series B round led by Insight Partners, bringing total funding to $67M including prior rounds. Investors in the Series B included Primary Venture Partners, Permanent Capital Ventures, VMG Partners, PSP Growth, and NewBuild Venture Capital, with Insight's Teddie Wardi joining the board. The 2025 funding will accelerate product roadmap, expand supply chain algorithms and AI automation, simulation tools, and grow customer success teams. |
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Start Free TrialAcquisitions by Lyric
Lyric has acquired 2 companies to date.
Last acquisition by Lyric was on July 14th 2026. Lyric acquired Concert for $576M.
Latest Acquisitions by Lyric
| Description | Concert is a healthcare technology company that delivers test order management and diagnostic benefit programs. | ClaimShark is a technology firm delivering healthcare payment integrity solutions, helping health plans build and optimize audit capabilities. |
| HQ Country | ||
| HQ City | Nashville, TN | Los Angeles, CA |
| Deal Date | 14 Jul 2026 | 22 Apr 2025 |
| Valuation | $576M | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Lyric acquisitions and their M&A valuation multiples. Start Free Trial | ||
Lyric Competitors
Lyric competitors include listed companies like Claritev and Schrödinger, and private ones like Uptake Technologies, EliseAI, MasterControl and Abridge.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $100M | - | $2.3B | 23.0x | ||
| Publicly listed | $965M | $466M | $538M | 5.2x | ||
| Private | $100M | - | $2.2B | 22.0x | ||
| Private | $100M | - | $1.3B | 13.0x | ||
| Private | $117M | - | $5.3B | 45.3x | ||
| Publicly listed | $256M | ($96M) | $2.3B | 7.9x |
Lyric Public Comps
Lyric is no longer listed, but its public comps include Schrödinger, Karooooo, DoubleVerify, Business-intelligence, Shanghai DZH, Tieto, Innodata, Planisware, Privia Health and Qingdao Baheal Medical.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $256M | ($96M) | 7.6x | 7.9x | (20.3x) | (14.0x) | |||
| $337M | $148M | 6.3x | 5.7x | 14.3x | 13.8x | |||
| $748M | $136M | 2.7x | 2.5x | 14.6x | 7.4x | |||
| $389M | $54M | 6.6x | 5.9x | 47.7x | - | |||
| $123M | ($545K) | 18.1x | - | (4082.3x) | - | |||
| $2.1B | $186M | 1.3x | 1.4x | 15.2x | 7.9x | |||
| $252M | $47M | 6.8x | 5.2x | 36.6x | 22.7x | |||
| $228M | $78M | 7.3x | 6.7x | 21.5x | 18.4x | |||
This data is available for Pro users. Sign up to see all Lyric competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Lyric
| When was Lyric founded? | Lyric was founded in 2007. |
| Where is Lyric headquartered? | Lyric is headquartered in Philadelphia, PA, United States. |
| Is Lyric publicly listed? | No, Lyric was acquired by TPG in April 2022. |
| Who acquired Lyric? | Lyric was acquired by TPG in April 2022. |
| How much was Lyric acquired for? | Lyric was acquired for $2.2B in April 2022. |
| How much funding has Lyric raised? | Lyric has raised $91M across 1 funding round. |
| What was Lyric's last funding round? | Lyric's last funding round was a $91M undisclosed-stage round in August 2023. |
| Which companies are comparable to Lyric? | Companies comparable to Lyric include Uptake Technologies, Claritev, EliseAI, MasterControl, Abridge and Schrödinger. |
| How many companies has Lyric acquired? | Lyric has acquired 2 companies, including Concert and ClaimShark. |
| What was the largest acquisition by Lyric? | The $576M acquisition of Concert in July 2026 is the largest acquisition Lyric has made to date. |
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