Lightyear Network Solutions

About Lightyear Network Solutions

Lightyear operates as a software-as-a-service (SaaS) provider, offering a platform designed to automate and streamline the entire lifecycle of enterprise telecom services. The company was founded in 2019 by CEO Dennis Thankachan and CTO Ryan Schrack to address the inefficiencies and lack of transparency in the B2B telecommunications market. Thankachan’s background as a technology investor at Goldman Sachs and a hedge fund, where he covered the telecom industry, exposed him to the sector's operational challenges, sparking the idea for Lightyear.

The firm's primary offering is its Telecom Operating System, a comprehensive software platform that serves enterprise clients. This platform automates processes from procurement and implementation to ongoing management and renewal of telecom services. Clients can configure requests for services such as dedicated internet access (DIA), WAN, colocation, and voice services through an online questionnaire. The platform then gathers and presents validated quotes from a large network of over 1,000 integrated service providers, allowing customers to compare pricing and service level agreements (SLAs) transparently. The procurement module manages the entire process, from request for proposal (RFP) to contract signing and implementation project management.

Post-installation, Lightyear provides a Network Inventory Manager that acts as a digital system of record for all of a client's network services. This tool tracks more than 30 data points per service, including contract end dates, static IPs, and costs, replacing traditional spreadsheets and manual tracking methods. The platform also features a Bill Consolidation product, which provides clients with a single monthly invoice for all their telecom services, handles payments to various vendors, and conducts audits to prevent overcharges. The business model involves charging SaaS subscription fees for its Network Inventory and Bill Consolidation products, while earning commissions on services sold through its procurement software. The platform is carrier-neutral and aims to deliver significant time and cost savings to its enterprise customers, which include companies like Palo Alto Networks, Five Guys, and Alo Yoga.