Hyro, an AI tool for enterprise users, has raised $20 million in fresh funding.The company has raised new money from Macquarie Capital amid a boom in AI interest.Founded in 2018, Hyro is a plug-and-play AI startup that provides conversational AI tools to sectors such as healthcare. Based in New York, the company uses large language models to help businesses organize and automate workflows in messaging services like call centers, websites, SMS, and mobile apps.
"We were smack in the midst of fundraising when ChatGPT officially launched," Hyro CEO Israel Krush told Insider."Investors understood that highly regulated enterprises would need partners, experts in natural language, to shepherd in these new technologies. We were already using LLMs while maintaining explainability, so GPT was less of a curveball for us."
The company's funding comes in a round led by Macquarie Capital, with participation from new investors Liberty Mutual Strategic Ventures, Black Opal Ventures, and K20, as well as existing investors Hanaco Ventures, Spero Ventures, and Mindset Ventures. The round brings the company's total funding to $35 million.
New capital will go towards building out tools for healthcare providers in areas like scheduling, prescription management and lead generation, through new partnerships and integrations, alongside increasing the company's headcount, Krush added.
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