Lyric, a healthcare technology firm based in King of Prussia, has raised $90.9 million, and adds Irish pro golfer Rory McIlroy’s company Symphony Ventures as an investor, writes Ryan Mulligan for the Philadelphia Business Journal.
Thirty-five investors participated in the round, according to a U.S. Securities and Exchange Commission filing.
Last week Lyric announced an investment by McIlroy, but it is unclear if it was a part of the $90.9 million raised.
Lyric’s software is used by health plans to manage pay claims. Located at 475 Allendale Rd. in King of Prussia, the company was originally called ClaimsXten Portfolio before it was acquired by TPG Capital from UnitedHealth Group in October 2022.
Lyric launched an Artificial Intelligence-as-a-service platform called LyricIQ last week. It collects and evaluates data and helps identify claims trends.
“The launch of LyricIQ and investment from Symphony speak to our continued commitment to revolutionizing the business of care,” CEO Raj Ronanki said.
Read more about Lyric in Philadelphia Business Journal.
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