Looks like KOP-based AI healthtech company Lyric raised $90.9M

King of Prussia-based AI healthtech company Lyric appears to have raised an impressive $90.9 million — one of the highest rounds so far this year.

Lyric is a software company that uses artificial intelligence, machine learning and predictive analytics to make healthcare payments more efficient. This raise, first spotted by the Philadelphia Business Journal, was filed with the SEC earlier this month. Thirty-five investors participated in this round.

Earlier this month, the company announced a new partnership with Symphony Ventures, pro golfer Rory Mcllroy’s venture capital firm. This announcement was paired with the launch of the company’s new AI tool, LyricIQ.

Lyric’s logo. (Image courtesy of Lyric via Cision)

“The launch of LyriclQ and investment from Symphony speak to our continued commitment to revolutionizing the business of care,” said Raj Ronanki, CEO of Lyric, in a statement. “Rory is a strong believer in the role of technology in improving health care. With the launch of LyricIQ and the support of Symphony Ventures, we become even better positioned to advance our vision to make the complex simple so our partners can focus on the bigger picture — delivering better patient experiences and outcomes.”

Ronanki joined the Lyric team this spring, leaving his role as SVP of Elevance Health, and previous CEO Carolyn Wukitch became COO. The company has gone through a few major changes over the last few years, including being acquired by TPG Capital for $2.2 billion in October 2022. The company was previously known as ClaimsXten Portfolio, but rebranded as Lyric this spring.

A company spokesperson did not immediately respond to Technical.ly’s requests for comment.