Hyperbots, a financial and accounting AI firm, has successfully secured $2 million in its initial funding round. The round was led by Kalaari Capital, with participation from Sunicon Ventures and Athera Venture Partners.
The funds will be utilized to expand Hyperbots’ go-to-market strategy and product development, specifically focusing on creating exclusive generative AI models for finance and accounting.
Hyperbots claims that they have created exclusive AI Assistants, possessing human-like intelligence, which can automate processes in finance and accounting that are often done manually, analytically, and strategically.
Hyperbots provides comprehensive AI-driven solutions for a range of tasks, such as managing accounts payable (AP), accounts receivable (AR), and processing expenses.
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The company has a specific focus on mid-sized markets in the United States and is making progress in this area. It is specifically targeting companies with annual revenues ranging from $50 million to $1 billion. The Hyperbots platform incorporates artificial intelligence (AI) into many processes, including procure-to-pay, order-to-cash, and cost management, resulting in a reduction of human participation by 80%.
About Hyperbots
Founded in 2023 by Rajeev Pathak, Niyati Chhaya, and Ram Jayaraman, Hyperbots, they are on a mission to free up humans from mundane and repetitive tasks in finance.
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