- Raleigh, North Carolina-based AI technology company Pryon announced it closed $20 million in Series A
Pryon is a Raleigh, North Carolina-based AI technology company that delivers augmented intelligence for the enterprise. Recently, Pryon announced that it closed $20 million in Series A funding led by Revolution’s Rise of the Rest Seed Fund in partnership with Breyer Capital and Greycroft. And there was new participation from Digital Alpha Advisors. Existing investors BootstrapLabs, Engage, Good Growth Capital, and Two Sigma Ventures also joined the round.
“There is an opportunity for organizations to revolutionize their workplaces by giving employees the power of AI at their command,” said Pryon CEO Igor Jablokov in a statement. “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 is known for developing the foundational human language technologies that led to Amazon Alexa, IBM Watson, etc. For example, when Jablokov was a program director at IBM between 2002 and 2006, he led the innovation team that invented the precursor to IBM Watson AI.
“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,” added Breyer Capital founder and CEO Jim Breyer.
Pryon brings augmented intelligence to enterprises by combining the best of people and machines for maximizing performance. And Pryon’s technology unlocks a new level of employee productivity while also reducing the complexity, cost, and duration of AI deployments.
“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,” explained Revolution chairman and CEO Steve Case.
“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,” noted Digital Alpha Advisors founder and managing partner Rick Shrotri. “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.”
Pryon plans to use this funding to further build its core product and grow its roster of Fortune 500 customers along with developing new strategic partnerships.
“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,” noted Greycroft Principal Will Szczerbiak.
