Hypersonix, an Enterprise AI Platform for Commerce, recently closed a $35 million Series B round at a valuation of $200 million.
The Series B was led by existing investor B Capital Group with participation from Intel Capital, Firebolt, Magicus Ventures, and Gokul Rajaram, among others. The funding will be used to invest in accelerating and deepening its Commerce AI infrastructure, expanding its sales and marketing footprint and building out its global partner network.
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 realised 4-6% in margin growth and 15-20% efficiency gains by using various modules across their enterprise.
The San Jose-based 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.
“Hypersonix has built a mission-critical Commerce Intelligence platform which allows organisations to connect their various back-office operational systems and turn that into real-time intelligence across their enterprise to take proactive and adaptive actions. Various top brands and retailers like Giant Eagle, Intel, Armada, Global Partners trust Hypersonix to help them on their AI journey and drive productivity and unlock growth,” said 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.”
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. Matt Holland joins as the head of CPG, coming from a diverse background including Nielsen, Trax Retail, and McKinsey.
Prem Kiran, Founder and CEO, Hypersonix, said: “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.”
With the latest round over-subscribed, Hypersonix.ai has now raised more than $50 million. Enterprise AI and Cloud Data Management are two of the fastest-growing enterprise software categories, increasingly recognised as a universal, critical asset for businesses of all sizes, across all industries, in every geography.
Hypersonix cloud-agnostic Enterprise AI platform works seamlessly with any cloud infrastructure and data cloud environments. Hypersonix 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.
“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,” Kiran added.
