Pryon Announces $20M Equity Round to Accelerate Enterprise Adoption of AI

Leaders behind transformational natural language technologies now
delivering augmented intelligence for the future of work

RALEIGH, N.C.–(BUSINESS WIRE)–#AIPryon
Inc.
, an AI technology company that delivers augmented intelligence
for the enterprise, today announced it has closed a $20 million Series A
financing round led by Revolution’s
Rise of the Rest Seed Fund
in partnership with Breyer
Capital
and Greycroft,
with new participation from Digital
Alpha Advisors
. Pryon will use this latest funding to further build
its core product, grow its roster of Fortune 500 customers, and develop
strategic partnerships.


“There is an opportunity for organizations to revolutionize their
workplaces by giving employees the power of AI at their command,” said
Igor Jablokov, CEO, Pryon. “We fill the market space between emerging
technologies that are difficult and expensive to implement and existing
products that are designed for simple rules-based services.”

The Pryon team developed the foundational human language technologies
that led to Amazon Alexa, IBM Watson, and others. The company brings
augmented intelligence to enterprises by combining the best of people
and machines to maximize performance. Pryon’s technology unlocks a new
level of employee productivity while reducing the complexity, cost, and
duration of AI deployments.

Investors from the company’s previous funding also participated in this
round, including BootstrapLabs,
Engage,
Good
Growth Capital
, and Two
Sigma Ventures
. Notably, the Engage corporate partners include AT&T,
Chick-fil-A, Cox Enterprises, Delta Air Lines, Georgia-Pacific, Georgia
Power Foundation, Inc., The Goldman Sachs Group, Inc., Intercontinental
Exchange (ICE), Invesco Ltd., The Home Depot, and UPS.

Investor Perspectives

Jim Breyer, Founder and CEO, Breyer Capital

“I am passionate about investing in big thinkers who want to solve
important challenges, and Igor’s vision for enterprise AI has the
potential to positively transform work as we know it. Pryon is providing
important solutions to make intelligent, data-driven decisions. I look
forward to working with Pryon’s very high-quality leadership team as
they continue to improve the workplace with their AI platform.”

Steve Case, Chairman and CEO, Revolution

“The Third Wave of technology will bring about great opportunities for
enterprises that are willing and able to innovate. Pryon is delivering
solutions to empower employees and enterprises to tackle the challenges
brought on by this next wave of technological progress. They are another
great example of a company that is successfully building disruptive
technology outside Silicon Valley.”

Rick Shrotri, Founder and Managing Partner, Digital Alpha Advisors

“Enterprises are in the middle of massive transformations to take
advantage of opportunities enabled by the Digital Economy, while
simultaneously combatting new challenges and threats. This is the ideal
moment for companies to build AI into their digitization strategies.
Pryon has the track record and approach to AI solutions that DA believes
enterprises will need to succeed in a world of exponential change. With
this initial investment, we look forward to helping accelerate potential
opportunities for Pryon across the many synergies within the DA
portfolio.”

Will Szczerbiak, Principal, Greycroft

“Pryon sees the long game when it comes to AI in the enterprise. They
understand the future of work is mobile, connected, and powered by AI.
With this vision, Pryon is leapfrogging the current AI approaches to
give enterprises a purpose-built AI solution that empowers individual
employees with the speed and scale that only a company focused on
enterprise AI can deliver.”

About Pryon

Pryon
is an AI company that delivers augmented intelligence for the
enterprise. Driven by the inventors of core natural language
technologies, the company is developing a platform that connects
employees to digital transformation, extending their ability to find and
use knowledge, drive workflows, and make better decisions from wherever
they are. Pryon streamlines AI adoption to dramatically reduce
complexity, costs, and deployment times. For more information, please
visit: https://www.pryon.com
or follow us on Twitter @Pryon

Contacts

Tyler Ogoshi
+1 (503) 471-6875
tyler.ogoshi@edelman.com

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