Lightyear operates a web-based marketplace that lets companies interact with vendors, obtain multiple price quotes and purchase telecom infrastructure online. The platform now covers the full lifecycle of services, including broader configuration options, installation management, reduced install delays and errors, inventory tracking, and automated renewals. Since launching, the company says it has gained customers by replacing manual, opaque procurement processes with greater transparency and web-based workflows. Lightyear reports 4x growth in the nine months since its seed round, expanded vendor relationships from about 400 to the mid-500s, and has doubled headcount to around 20 employees. The company is led by CEO and co-founder Dennis Thankachan and is based in New York City. Financially, Lightyear has raised $16.8 million to date, including a $3.7 million seed round and the recent Series A. Lightyear offers a platform that digitizes procurement of networking infrastructure, enabling buyers to select services and find local providers with pricing and contract terms. The company emerged from stealth and is offering its solution in public beta after launching about a year ago. To power its data-driven marketplace, Lightyear has formed relationships with over 400 networking providers worldwide. Pricing is still being determined — options under consideration include a monthly subscription or a percentage of the sale; during beta it is using a percentage model to keep the product free. The startup has 10 employees and plans to double headcount over the next year with the new funding. CEO and co-founder Dennis Thankachan built the product based on experience seeing slow, opaque telecom procurement processes at a telecommunications-focused hedge fund.

Total raised

$17M

Funding rounds

2

Latest round

Series A

Latest activity

Jul 2021