Hyphenate Raises $45M Led by Nexus to Run the CFO Office on AI
Hyphenate, formerly Maximor, raised a $45M Series A led by Nexus after 86x revenue growth, as its AI agents run 90% of routine finance work.
The finance software market is expected to grow from $11.9 billion in 2020 to $70.2 billion in 2030, with AI adoption increasing rapidly. Finance leaders prioritize staff productivity, and 59% of finance functions are using AI, up from 37% in 2023. Hyphenate, a New York-based autonomous finance platform, has raised $45 million in a Series A round led by Nexus Venture Partners, with additional participation from B Capital and existing investors.
The platform aims to automate 90% of routine finance work and has customers including six public companies like Groupon and Synthesia. Hyphenate's AI agents currently run 40% of customers' finance work, and 40% of customers expand within their first year. The company's growth is driven by the demand for finance AI, as 67% of finance leaders using AI are more optimistic about it than a year earlier.
Written by urgent.news from HackerNoon's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
