Hyro Raises $20 Million in Series B

by Kay Aloha Villamor in June 1st, 2023

Hyro, a New York-based conversational artificial intelligence (AI) company that specializes in plug-and-play chat and voice interfaces, raised $20 million in a Series B funding round, bringing its total funding to $35 million.

Macquarie Capital led the round, with participation from new investors Liberty Mutual Strategic Ventures, Black Opal Ventures, and K20, and existing investors Hanaco Ventures, Spero Ventures, and Mindset Ventures.

The funding will enable Hyro to meet the growing demand for conversational AI and automation in the healthcare sector. The company aims to help large organizations streamline access to digital services for patients and staff while improving operational efficiencies.

Hyro plans to expand its no-code platform for AI-powered call center, web, and mobile solutions and hire top talent across all departments. The company also intends to strengthen strategic partnerships, integrations, and use cases across key industries where it has already gained traction.

"In an age of generative AI, labor shortages and economic struggle, healthcare organizations will look to eliminate low-level tasks to further drive efficiency," said Israel Krush, CEO and Co-Founder of Hyro. "Automation is no longer simply nice to have–we're poised to capture unprecedented demand for AI assistants as health systems continue trusting us to scale interactions surrounding critical workflows. The x-factor in this market will be the solutions provider that most responsibly and effectively blends key components of conversational AI together, including emerging technologies such as large language models, and we're best positioned to accomplish that here at Hyro."

Combined with the rising popularity of OpenAI's ChatGPT, Google's Bard, and other large language models (LLMs), Hyro expects the latest funding round to drive doubled growth in the coming fiscal year.

Company: Hyro AI Inc.

Raised: $20.0M

Round: Series B

Funding Month: May 2023

Lead Investors: Macquarie Capital

Additional Investors: Liberty Mutual Strategic Ventures, Black Opal Ventures, K20, Hanaco Ventures, Spero Ventures, and Mindset Ventures

Company Website: https://www.hyro.ai/

Software Category: AI-powered Communications

About the Company: Founded in 2018 by Israel Krush and Rom Cohen, Hyro is an adaptive communications platform, that enables enterprises to automate workflows and conversations across their most valuable platforms, services, and channels—including call centers, websites, SMS, mobile apps, and more. Top-performing organizations trust Hyro's plug-and-play approach, including an award-winning natural language engine, to help them recapture time and investment lost to building and maintaining chat and voice solutions. With conversational intelligence, Hyro delivers omnichannel analytics, including engagement metrics, trending topics, and knowledge gaps, that offer industry-leading explainability, control, and optimization. Headquartered in New York, Hyro delights clients like Intermountain Healthcare, Baptist Health, and Novant Health.

Source: https://www.prnewswire.com/il/news-releases/hyro-raises-20m-in-funding-to-advance-responsible-ai-powered-communications-for-enterprise-301838438.html

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