Hypersonix, the leading Enterprise AI Platform for Commerce, today announced the closing of a $35 million Series B round at a valuation of $200M. The company has now raised more than $50 million in capital, and the latest financing more than quadruples the valuation of its Series A round in March 2020.
The Series B was led by existing investor B Capital Group with participation from Intel Capital, Firebolt, Magicus Ventures, and Gokul Rajaram, among others. Hypersonix will use this funding to invest in accelerating and deepening its Commerce AI infrastructure, expanding its sales and marketing footprint and building out its global partner network.
Enterprise Commerce AI Emerges as the C-Suite’s Go-To Intelligence Platform
The Enterprise Commerce AI category is emerging as a “must-have” system of intelligence for CxOs. Hypersonix’s platform uniquely extracts structured and unstructured data and enriches this with third-party intelligence for critical operational business processes. Customers have already realized 4-6% in margin growth and 15-20% efficiency gains by using various modules of Hypersonix Platform across their enterprise.
“We are very excited to be partnering with Hypersonix on our AI & Digital transformation journey. As the largest independent innovation media company, we at Digital Trends Media Group deeply believe in the power of data and personalization to humanize technology. It is at the heart of how we create a conversation that’s always engaging, entertaining, and valuable. As we deepen our partnership with Hypersonix, their Commerce Data and AI infrastructure is critical to our Rapport AI platform and our mission.”– Nathan Bell (SVP of Data and Business Analytics, Digital Trends Media Group)
Hypersonix’s technology acts as a record system connecting enterprises with real-time insights across the industry landscape and enabling them to make timely and agile decisions that drive growth. The company is experiencing accelerated growth with total customers up over 500% YoY, further highlighting the critical importance of “systems-of-operational-intelligence” in commerce.
“Hypersonix has built a mission-critical Commerce Intelligence platform which allows organizations to connect their various back-office operational systems and turn that into real-time intelligence across their enterprise to take proactive and adaptive actions, driving business growth. Various top brands and retailers like Giant Eagle, Intel, Armada, Global Partners today trust Hypersonix to help them on their AI journey and drive productivity and unlock growth.”– Rashmi Gopinath (General Partner, B Capital)
“At B Capital Group, we are huge believers in Data and AI and the exponential impact AI and automation can create for enterprises and traditional business processes. We are always looking to back leading enterprise SaaS companies that are disrupting traditional processes and tools and becoming the new backbone for agile business. We are excited to deepen our relationship with Hypersonix and look forward to continue working with the incredible team at Hypersonix as they build the leading Enterprise AI Platform for Commerce,” Gopinath continued.
Positioned for Greater Growth
Over the last several months, Hypersonix has added several highly distinguished leaders to its executive team. Taking the helm as CTO is Kumar Srivastava, who brings more than two decades of experience from Microsoft and a host of innovative and emerging brands to the company. Ying Tat, heading up AI for the company, comes from a successful career at IBM and Noodle.ai. Finally, Matt Holland joins as the head of CPG, coming from a diverse background including Nielsen, Trax Retail, and McKinsey & Co.
“Our company is experiencing accelerated growth, despite headwinds from COVID-19, which I think highlights the critical importance of ‘systems-of-operational-intelligence’ in commerce. Enterprises are demanding real-time insights that will power agility in decisions and actions across the commerce enterprise. These insights span from marketing and merchandising to operations and supply chain arenas.”– Prem Kiran (Founder and CEO, Hypersonix)
Funds to Accelerate Scalability & Ecosystem
Hypersonix.ai has now raised more than $50 million, with the latest round over-subscribed. Enterprise AI and Cloud Data Management are two of the fastest-growing enterprise software categories, increasingly recognized as a universal, critical asset for businesses of all sizes, across all industries, in every geography. The category has ballooned to a massive addressable market and is becoming a must-have strategy for large to small enterprises globally.
Hypersonix cloud-agnostic Enterprise AI platform today works seamlessly with any cloud infrastructure and data cloud environments. Hypersonix in most cases directly integrates to system of record including several ERP and Commerce systems like SAP, Blue Yonder, NCR, Salesforce Commerce, Adobe, Shopify etc. to seamlessly bring in data and turn them into revenue & ebit growth recommendations and actions that are pushed back into transaction systems. In several cases, this is all done seamlessly and in an automated closed-loop fashion. Hypersonix will continue to invest, partner and build deeper integration with its partner eco-system delivering faster value and ROI to its enterprise clients. Hypersonix also sees global demand growing in digitization and today has clients globally in US & EMEA.
Hypersonix’s latest partnership with Snowflake is yet another key milestone in its growing eco-system of strategic partnerships to accelerate time to value for its enterprise commerce customers.
“It is immensely satisfying to be leading the enterprise AI and digital transformation for commerce enterprises, from being a ‘nice-to-have’ to a ‘critical-to-have’ software category. We’re eminently well-positioned to continue leading the way and helping commerce businesses. Hypersonix is clearly out in front and executing on our mission to democratize Enterprise Intelligence and accelerate digital transformation – the foundation of commerce businesses – and this is just the beginning!”Prem Kiran (Founder and CEO, Hypersonix)
Hypersonix is the leading cloud-based, enterprise AI platform for commerce. The company’s operational intelligence infrastructure for commerce enables decision-makers with rapid visibility, predictive insights and suggestive actions, leading to rapid decisioning and business agility. Hypersonix constantly monitors and measures business results, highlights why results are occurring, and recommends actions to drive improvements.
Leveraging innovations in auto-machine learning, natural language programming (NLP), high scale real-time data computing, and business and workflow automation, the platform offers a simple, fast “Alexa-like” experience supported by “Jarvix,” a virtual assistant.
Hypersonix today helps several leading brands and clients to drive profitable growth, save money, and improve customer engagement. Founded in 2018 by former executives from SAP, IBM, and PayPal, the company has been featured in the Wall Street Journal, Fortune, TechCrunch, and others. The company was recently recognized as a World Changing Company by Fast Company and, earlier in 2020, as a Cool Vendor by Gartner. Hypersonix is headquartered in San Jose, CA.