#USA #Dover #A.I. Technology #Hyperbots #Finance Platform

Hyperbots Secures $6.5 Million in Series A Funding

Hyperbots, an innovative agentic AI platform dedicated to transforming finance and accounting operations, has successfully closed a Series A funding round of $6.5 million, jointly led by Arkam Ventures and Athera Venture Partners. The fundraising event also attracted investments from JSW Ventures as well as existing investors including Kalaari Capital and Darashaw & Company. This significant investment will allow Hyperbots to enhance its U.S. market presence, further develop its AI co-pilots, and launch its first large language model, dubbed "HyperLM," which is specifically trained on finance and accounting data.

Founded in 2023 by visionaries Niyati Chhaya, Ram Jayaraman, and Rajeev Pathak, Hyperbots is committed to automating finance workflows for mid-sized enterprises. The capital raised will primarily be used to ramp up go-to-market strategies in the U.S. market and advance the development of various new co-pilots that assist in tasks ranging from procure-to-pay and order-to-cash processes to expense management and reporting. Each AI co-pilot is designed through collaboration with experienced CFOs to ensure they meet market needs effectively.

Significantly, Hyperbots has already demonstrated impressive outcomes, achieving over 80% straight-through processing and a remarkable 99.8% accuracy in document processing while cutting down manual intervention by up to 80%. This efficiency is indicative of the transformative impact Hyperbots aims to have on its clients across diverse sectors, including healthcare, manufacturing, retail, and real estate. The company is on track to onboard more than 100 U.S. clients this year alone.

Rajeev Pathak, CEO and co-founder of Hyperbots, shared his insights on the future of finance and accounting as the company embarks on this new journey. He stated, "We are entering a new era of transformation within finance and accounting in the U.S. With our proprietary, domain-trained AI models coupled with our agentic workflow engine, we are ready to automate the cumbersome and error-prone tasks that have traditionally impeded finance teams. This latest funding gives us the leverage to amplify our research and development, accelerate deployment, and forge a go-to-market ecosystem that enables every mid-market CFO to operate world-class finance and accounting operations at significantly reduced costs and efforts."

Bala Srinivasa, Managing Director at Arkam Ventures, expressed his enthusiasm about their investment, stating, "The precision and range of products offered by Hyperbots is impressive for a relatively new company. We are eager to support a team that embodies deep AI expertise alongside a focus on delivering value and satisfaction to customers."

Hyperbots is poised to redefine finance and accounting functions through an arsenal of proprietary AI agents capable of managing structured and unstructured data effectively. These agents are designed to handle various financial processes, including invoice processing, tax validation, GL code recommendations, and much more, with minimal to no human involvement required.

The platform stands out for its dual operation of specialized AI co-pilots that are layered over a foundational architecture tailored specifically to finance. This architecture allows for elevated intelligence across multiple facets, including language processing, data interpretation, predictive analytics, and exception handling.

With this financial boost and its innovative technology, Hyperbots is well-positioned to lead the charge in the finance technology landscape, providing solutions that not only enhance operation efficiencies but also significantly reduce the financial burdens historically faced by mid-market enterprises. The ongoing journey of this dynamic startup will be one to watch as it aims to bridge gaps in the finance sector with cutting-edge AI advancements.