AI tech company Pryon secures $20M in fresh funding

Pryon Inc., an AI technology company that delivers augmented intelligence for the enterprise, has recently 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

“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.

Jim Breyer, Founder, and CEO, Breyer Capital, said, “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, said, “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, said, “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, said, “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.”

SOURCE Pryon

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