Hyro, a provider of AI-powered communication solutions, recently announced the successful raising of $20 million in Series-B funding - bringing the company's total funding to $35 million. This latest investment will enable Hyro to further advance its cutting-edge platform, which combines conversational and generative AI technologies and focus on improving access to digital services provided by healthcare organizations for their patients and staff. The more personalized and efficient interactions will still meet the highest standards of compliance and security.
Hyro's Adaptive Communications Platform boasts a unique blend of conversational and generative AI, enabling natural and intelligent interactions that mimic human-like conversations.
Company officials said they also plan to use the funding to hire top talent and expand its strategic partnerships to maximize the reach of its no-code platform for AI-powered call center, web and mobile solutions.
With the company’s plug-and-play chat and voice interfaces, it offers a solution to alleviate the burden on healthcare organizations by resolving up to 85% of routine tasks. What sets their platform apart is its unique feature of not requiring the training typically associated with intent-based solutions that utilize machine learning (ML). This translates to reduced maintenance efforts for clients and the seamless integration of AI assistants into existing omnichannel workflows. The result is centralized communication, improved service and care accessibility, and lowered operational costs.
Tasks such as patient registration, routing, scheduling, IT helpdesk ticketing, frequently asked questions, and prescription refills, which traditionally consume a significant portion of inbound calls, can now be efficiently automated.
Hyro has experienced exceptional growth, with annual recurring revenue increasing by over 100% year over year since its launch in 2020. It anticipates that this recent funding round, combined with the growing popularity of OpenAI's ChatGPT, Google's Bard, and other large language model (LLM) applications, will serve as catalysts for another year of doubled growth in these categories.
"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,” said Israel Krush, CEO and Co-Founder of Hyro.
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