Hyperbots Raises $6.5M Series A Funding for Finance-Specific AI Platform
• $6.5 million in Series A funding
• $2 million in seed funding (August 2024)
• 80% reduction in processing costs per invoice
Hyperbots, an AI-powered platform with a focus on accounting and finance, has raised $6.5 million in a round of Series A funding facilitated by Arkam Ventures and Athera Venture Partners. Participation was also received from Darashaw & Company, Sunicon Ventures, Kalaari Ventures, and JSW Ventures.
Before this Series A funding, Hyperbots raised $2 million in seed capital in August 2024, with funding from Kalaari Capital, Sunicon Ventures, and Athera Venture Partners.
The funds raised in this latest round will be used to build HyperLM, a large language model specifically designed for accounting and financial information, as well as to speed up the company's push into the U.S. market.
Founded in 2023 by Niyati Chhaya, Ram Jayaraman, and Rajeev Pathak, Hyperbots uses AI-native co-pilots to automate mid-market companies' financial operations. The platform natively integrates with popular ERP, CRM, and finance applications to handle key financial activities like order-to-cash, procure-to-pay, expense management, and reporting.
Hyperbots has proved capable of reducing manual intervention in finance processes by as much as 80%, with 80% straight-through processing of financial documents and a remarkable 99.8% accuracy in data structuring.
The platform caters to different industries such as healthcare, media, manufacturing, retail, and real estate and is expected to onboard more than 100 clients this financial year.
Their AI finance assistants are AI-native and can be tailored to address particular requirements without the need to invest in a bespoke IT project. Early trials suggest that all-encompassing automation has reduced processing cost per invoice by 80%.
In addition, the time required to handle invoices and expenses has been dramatically reduced from five to fifteen days to a few minutes. The AI assistants include native integrations for common ERP, CRM, and other applications, so they are ready to use and easy to implement.
• $2 million in seed funding (August 2024)
• 80% reduction in processing costs per invoice
Hyperbots, an AI-powered platform with a focus on accounting and finance, has raised $6.5 million in a round of Series A funding facilitated by Arkam Ventures and Athera Venture Partners. Participation was also received from Darashaw & Company, Sunicon Ventures, Kalaari Ventures, and JSW Ventures.
Before this Series A funding, Hyperbots raised $2 million in seed capital in August 2024, with funding from Kalaari Capital, Sunicon Ventures, and Athera Venture Partners.
The funds raised in this latest round will be used to build HyperLM, a large language model specifically designed for accounting and financial information, as well as to speed up the company's push into the U.S. market.
Founded in 2023 by Niyati Chhaya, Ram Jayaraman, and Rajeev Pathak, Hyperbots uses AI-native co-pilots to automate mid-market companies' financial operations. The platform natively integrates with popular ERP, CRM, and finance applications to handle key financial activities like order-to-cash, procure-to-pay, expense management, and reporting.
Hyperbots has proved capable of reducing manual intervention in finance processes by as much as 80%, with 80% straight-through processing of financial documents and a remarkable 99.8% accuracy in data structuring.
The platform caters to different industries such as healthcare, media, manufacturing, retail, and real estate and is expected to onboard more than 100 clients this financial year.
Their AI finance assistants are AI-native and can be tailored to address particular requirements without the need to invest in a bespoke IT project. Early trials suggest that all-encompassing automation has reduced processing cost per invoice by 80%.
In addition, the time required to handle invoices and expenses has been dramatically reduced from five to fifteen days to a few minutes. The AI assistants include native integrations for common ERP, CRM, and other applications, so they are ready to use and easy to implement.
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