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June 1, 2023

Hyro Raises $20 Million in Series B Funding Round

Funding to enhance conversational AI solutions for healthcare

Hyro, a New York-based conversational AI company known for its plug-and-play chat and voice interfaces, has successfully raised $20 million in its recent Series B funding round. This latest infusion of capital brings Hyro's total funding to an impressive $35 million. Led by Macquarie Capital, the funding round saw 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.

With this substantial funding, Hyro is well-equipped to address the increasing demand for conversational AI and automation in the healthcare sector. The company's primary objective is to assist large organizations in streamlining access to digital services for both patients and staff while simultaneously enhancing operational efficiencies.

Hyro has ambitious plans for growth. A significant portion of the funding will be allocated towards expanding its no-code platform, which offers AI-powered call center, web, and mobile solutions. The company also aims to attract top talent across various departments to bolster its workforce and further strengthen its capabilities.

Hyro recognizes the importance of strategic collaborations and integrations to solidify its market position. The company intends to forge new partnerships and deepen existing ones, exploring innovative use cases and integrations across key industries where it has already gained considerable traction.

Israel Krush, CEO and Co-Founder of Hyro, highlights the significance of automation and conversational AI in the current landscape. He states, "In an age of generative AI, labor shortages, and economic struggle, healthcare organizations are seeking to eliminate low-level tasks to drive greater efficiency. Automation is no longer a mere luxury – we are poised to meet the unprecedented demand for AI assistants as health systems rely on us to scale interactions surrounding critical workflows. At Hyro, we believe the key lies in responsibly and effectively blending key components of conversational AI, including emerging technologies like large language models."

Hyro is well-positioned to capitalize on the rising popularity of large language models (LLMs) such as OpenAI's ChatGPT and Google's Bard. Leveraging the latest funding round, the company expects to experience significant growth, aiming to double its progress in the upcoming fiscal year.

Hyro's successful Series B funding round marks a significant milestone for the New York-based conversational AI company. The raised capital will empower Hyro to meet the growing demand for AI-powered solutions in the healthcare sector. With an expanded no-code platform, strategic partnerships, and a talented workforce, Hyro is poised to lead the market in blending the crucial elements of conversational AI. As the demand for AI assistants continues to rise, Hyro's innovative approach positions them to capture unprecedented opportunities in the evolving landscape of automation and large language models.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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