Photo - Lyrid inc
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Lyrid inc

USA, California
Market: Internet and IT
Stage of the project: Operating business

Date of last change: 24.09.2021
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Idea

Lyrid is a multi-cloud infrastructure as a service (IaaS) provider that makes developing new cloud native solutions easier and more affordable.

Current Status

Lyrid booked revenue of $435K in 2021 and projecting revenue of $2.4 mil for 2022. We recently won an award as the most fundable startup with $623k of investment interest from 213 voters, along with winning the ISG startup award for fintech. We are also admitted into the 3rd largest accelerator program, Expert Dojo. In July, we won first place in the sparkXYZ lightning pitch event. We are raising $2 mil and currently have $300k committed while working on DD with a few VCs.

Problem or Opportunity

The cloud landscape today is overly complicated, with more than 500 distinct products offered by AWS, Azure, and Google Cloud alone. Keeping up with the many cloud options available is overwhelming for any developer, let alone less technical business owners. This complexity adds many barriers including development costs and time that can stifle innovation and growth.
Enterprises, with pressure to attend to existing revenues, often lack the time and resources needed for ongoing innovation to effectively compete and retain market share against new entrants.

Solution (product or service)

Lyrid makes developing new cloud native solutions easier and more affordable by offering essential interfaces to all the public cloud vendors. As a vendor-agnostic cloud platform, Lyrid utilizes data, machine learning and user policies to wrap, deploy and execute the applications seamlessly between all the public clouds. This saves companies of all sizes on R&D costs while accelerating time-to-market and global distribution. Lyrid users enjoy a variety of tools, data, analytics, redundancy and automation that was previously inaccessible. With Lyrid, enterprises can innovate more affordably, i

Business model

Lyrid has 3 major revenue streams:
- Pro: 49$/Month or 499$/Year subscription that unlocks more feature for anyone to develop further with Lyrid platform.
- Enterprise:
Lyrid Enterprise Kubernetes Cluster License (at 49$/CPU):
Lyrid Cloud Hosted Services: where we runs the Kubernetes cluster for the end-user.
Recurring Enterprise Support: our higher level support with monitoring and analytics.
- Professional Integration and Infrastructure build revenue (non recurring).

Incubation/Acceleration programs accomplishment

expert dojo
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