# Lyra Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/lyra-technologies

- Industry: Retail
- Headquarters: Brooklyn, US
- Website: www.blockrenovation.com
- Total disclosed funding: $102M
- Latest round: Series C (Nov 9, 2021)
- Investors on record: 11

## About

Lyra Technologies, Inc. operates a comprehensive renovation platform designed to streamline home and apartment renovations, enabling homeowners to manage projects efficiently with transparency in costs and timelines.Founded in 2018 and headquartered in Brooklyn, US, Lyra Technologies, Inc. specializes in home renovation services. In November 2021, the company raised USD 50 mn in Series C funding led by SB Investment Advisers, with participation from several notable investors. The firm has completed a total of 4 deals so far, reflecting its evolving business strategy focused on enhancing user experience and expanding its reach in the renovation market.Block Renovation, a part of Lyra Technologies, provides homeowners with an integrated renovation platform. Its offerings include a free planning tool for space design and cost estimation, as well as connections to vetted contractors. The service is tailored to homeowners in major U.S. markets, guiding clients through each renovation phase with a focus on transparency and predictability.Block Renovation employs a structured transaction model to generate revenue, engaging clients with a free initial consultation followed by competitive contractor quotes. Payments are milestone-based, ensuring security throughout the renovation process. Although specific pricing plans are not disclosed, the model is structured to enhance clarity and trust among clients.Following its Series C funding round in November 2021, Lyra Technologies, Inc. plans to invest in platform enhancements, user experience improvements, and national expansion. The funding will also support the development of new products aimed at streamlining renovation processes. Specific markets for expansion have not been detailed, but the overall strategy is to strengthen its team and broaden its service offerings.

## Funding rounds

- Series C, Nov 9, 2021, $50M — New Enterprise Associates, 5Y Capital, SV Angel, Lerer Hippeau Ventures, Rainfall Ventures, BoxGroup, Obvious, SB Investment Advisers, Firstminute Capital, Giant Ventures
- Series B, Jul 19, 2021, $33M — New Enterprise Associates, 5Y Capital, SV Angel, Lerer Hippeau Ventures, BoxGroup, Obvious, Firstminute Capital, Giant Ventures
- Series A, May 14, 2019, $15M — New Enterprise Associates, Lerer Hippeau Ventures, Obvious, Giant Ventures, Future Positive
- Seed, Dec 13, 2018, $4.5M — New Enterprise Associates, Lerer Hippeau Ventures, Rainfall Ventures

## Investors

- New Enterprise Associates (https://capitalatlas.ai/funds/new-enterprise-associates) — Seed, Series A, Series B, Series C
- Lerer Hippeau Ventures — Seed, Series A, Series B, Series C
- Rainfall Ventures (https://capitalatlas.ai/funds/rainfall-ventures) — Seed, Series C
- Obvious (https://capitalatlas.ai/funds/obvious) — Series A, Series B, Series C
- Giant Ventures (https://capitalatlas.ai/funds/giant-ventures) — Series A, Series B, Series C
- Future Positive (https://capitalatlas.ai/funds/future-positive) — Series A
- 5Y Capital (https://capitalatlas.ai/funds/5y-capital) — Series B, Series C
- SV Angel (https://capitalatlas.ai/funds/sv-angel) — Series B, Series C
- BoxGroup (https://capitalatlas.ai/funds/boxgroup) — Series B, Series C
- Firstminute Capital (https://capitalatlas.ai/funds/firstminute-capital) — Series B, Series C
- SB Investment Advisers (https://capitalatlas.ai/funds/sb-investment-advisers) — Series C