Primary Venture Partners

Is agentic intelligence the end of software? Lyric CEO Ganesh Ramakrishna explains why the algorithms powering supply chains aren’t going anywhere and how Agent AI amplifies them. Catch his full conversation with Zach Fredericks and Cassie Young. Link in the comments.

Today, I’m excited to share that Casap has raised $25 million in Series A funding. This brings our total funding to $33.5 million and marks the largest venture investment to-date in the payment disputes category. Before Casap, Saisi and I worked with teams at Chime and Robinhood supporting millions of consumers. Again and again, we saw how disputes were among the most frustrating and high-stakes moments a person could have with their financial institution. Even when everyone was doing their best, the experience felt broken. We also saw how hard it was on the teams inside those institutions. First-party fraud (when a real customer makes a real transaction and then disputes it) was surging. The processes to handle disputes were manual, slow, and overwhelmed. Teams didn’t have the time or tools to dig in. Those experiences shaped Casap’s first mission: to reimagine how disputes are resolved. Disputes are a black box. Delays, errors, and fraud are the norm. And teams are stuck choosing between controlling losses or serving their members well. Casap eliminates that tradeoff. Our AI agents enable financial institutions to resolve disputes quickly, catch first-party fraud early, and actually strengthen member relationships in the process. And it’s working. We’ve seen: 🔹 450%+ growth in ARR 🔹 Doubled our customer base 🔹 Endorsements from regional leagues and financial organizations But what excites me even more is the results our customers are seeing: ✅ Fraud losses down 51% ✅ Positive ROI in months (often weeks!) ✅ Cost per dispute dropped by up to 90% ✅ Dispute filers are now sending thank you emails instead of complaints We’re now helping banks, fintechs, and credit unions of all sizes turn disputes into a strategic advantage. Best of all, our customers are asking us to “Casap” other workflows, too. This round was led by Emergence Capital, with support from Lightspeed, Primary Venture Partners, SoFi and others. These are the partners behind iconic companies like Zoom, Salesforce, Bill.com, Carta, and Anthropic, and they’ve been invaluable thought partners in helping us scale with intention. With this funding, we’re expanding our AI decisioning and fraud scoring engine (think: FICO for first-party fraud) and continuing to build the intelligence layer for post-transaction risk. Because we believe that a decade from now, what’s accepted as a “normal” level of fraud will be a small fraction of what it is today. To the Casap team: thank you for building with intention, speed, and heart. To our customers: thank you for trusting us to tackle some of the hardest problems in payments. It’s an honor to serve you. To the fraud, risk, and ops leaders still stuck in reactive mode: we’d love to help you get ahead. And to the builders: if you’re excited by real-world complexity, clear impact, and a team that’s in it for the long run – we’re hiring.

Constant product outages. No explanation why. Ganesh Ramakrishna, founder and CEO of Lyric, shares how one customer’s inventory team spent days investigating empty shelves at Walmart and how Lyric built a system to help with that problem in under four weeks. Tune into the full episode now. Link in the comments.

Lack of adaptability slows the world’s biggest supply chains. Inspired by how Amazon and Instacart embedded intelligence into every layer, Ganesh Ramakrishna founded Lyric to bring the same AI-first mindset to more supply chains, built to handle uncertainty and move fast. The founder and CEO, joins Zach Fredericks, Principal at Primary and Cassie Young, General Partner at Primary to share: • how Lyric surfaces use cases customers didn’t know were possible • how Lyric outpaces traditional data scientists • what AI-native platforms mean for the future of forward-deployed 'engineers’ Link in the comments for the full conversation.

Worked out that I could share this chat with Bruno Estrella about building Clay's Marketing function right on the heels of a $100 million fundraise announcement. Plus don't miss Kareem Amin and Alex Konrad onstage at NYC Summit this year. Such an exciting story about the future of marketing.

Most companies miss out on duty refunds because of one tackleable bottleneck. Justin Sherlock, Co-founder and CEO of Caspian outlines the complexities of filing for drawback which can be made easier by Caspian’s innovative approach. Watch now to know how. Link in the comments.

🚀🚀 Congratulations to Ganesh Ramakrishna and the entire Lyric team on their recent $43M Series B led by Insight Partners! 🚀🚀 If you read the news, you know the brittle reality of global supply chains: companies big and small face complex supply chain decisions day in and day out. Lyric is using AI to invent a new era of supply chain decision intelligence that ensures every company is empowered to model out complex predictions, decisions, optimizations and everything in between... and to do so EASILY, without the intervention of consultants or forward-deployed engineers. I had the immense privilege of leading Lyric's Seed round almost exactly two years ago, and their growth in the time since has been absolutely astonishing. It is rare to find an early-stage company that is successfully working with MULTIPLE Fortune 1000 companies, and this team has managed to do it thanks to their relentless execution and next-level customer centricity. My partner-in-crime Zach Fredericks and I have had a blast working with Ganesh Ramakrishna, Sara Hoormann, Jon Payne, Evan Quasney, Vishvesh Oza and many others on the Team Lyric, and we couldn't be more excited for the journey ahead alongside our friends at Insight Partners and Permanent Capital Ventures. 👀 Read more here👀 https://lnkd.in/eFnZPC4F

I’m thrilled to share that Lyric has raised $43.5M in Series B funding, led by Insight Partners and joined by a phenomenal group of new and existing investors: Primary Venture Partners, Permanent Capital Ventures, NewBuild Venture Capital, VMG Partners, and PSP Partners. Read the full article here: https://hubs.la/Q03BkBp00 This brings our total funding to $67M but more importantly, it reflects growing conviction around a big idea: the world needs a new kind of software for supply chain decision-making. One that’s math-first, composable, and built for the people on the front lines. And Lyric is emerging as the platform to lead that shift. When we started Lyric, we weren’t just trying to modernize decision-making. We were rethinking it from the ground up: the math, the workflows, and the way real decisions get made every day. From modeling and analysis to planning and execution, our platform helps customers move faster, go deeper, and adapt with more intelligence than ever before. To our customers: thank you for building with us and pushing us to be better. To our team: this milestone is yours. Your talent and tenacity got us here. To anyone out there who wants to help shape the future of supply chain tech: we’re hiring - check us out. Let’s keep building. #SeriesB #SupplyChainAI #ComposableIntelligence #DecisionIntelligence #LyricTech Our earlier rounds were led by Primary Venture Partners and Permanent Capital Ventures, with additional participation from Foster Ventures, StepStone Group, Moguntia Capital, and prominent angels like Michael Watson and Razat Gaurav.