Total amount raised
$159.1 Millions
Latest funding date
1/1/2024
Location
Pryon has successfully raised significant funding across multiple rounds, attracting a diverse group of investors. The company's platform leverages generative AI to transform enterprise knowledge management.
Continue reading to delve into the details of Pryon's funding journey and discover the key investors supporting this innovative venture.
What Is Pryon?
Pryon, founded by Igor Jablokov in 2017, is headquartered in Raleigh, North Carolina. The company specializes in enterprise knowledge management, leveraging generative AI to enhance productivity.
With a team of 101-250 employees, Pryon focuses on transforming unstructured data into actionable insights. Their platform integrates natural language processing and automated machine learning to enrich content seamlessly.
Created by AI pioneers, Pryon aims to bridge the gap between people and information, building resilient and responsive organizations through innovative AI solutions.
How Much Funding Has Pryon Raised?
- Seed Round
- Amount Raised: $4.5M
- Date: November 2018
- Lead Investors: BootstrapLabs
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of their AI platform and build a foundational team.
- Series A
- Amount Raised: $20M
- Date: June 2019
- Lead Investors: Breyer Capital, Revolution’s Rise of the Rest Seed Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and expand market reach.
- Venture Round
- Amount Raised: $12M
- Date: September 2021
- Lead Investors: Good Growth Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and increase customer acquisition.
- Debt Financing
- Amount Raised: $3M
- Date: June 2022
- Lead Investors: Silicon Valley Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and short-term financial needs.
- Venture Round
- Amount Raised: $19.6M
- Date: January 2023
- Lead Investors: US Innovative Technology Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and market expansion.
- Series B
- Amount Raised: $100M
- Date: September 2023
- Lead Investors: US Innovative Technology Fund
- Valuation at Round: $500M - $750M
- Motivation Behind the Round: To capitalize on the growing interest in AI and expand the sales team.
- Venture Round
- Amount Raised: $78K
- Date: January 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operational needs.
Total Amount Raised: $159.178M. Current Valuation: $500M - $750M.
Key Investors
- US Innovative Technology Fund
- Details: Chaired by billionaire investor Thomas Tull, the US Innovative Technology Fund focuses on advancing cutting-edge technologies. The fund has been instrumental in supporting AI and technology startups.
- Investment Focus Areas: Artificial intelligence, technology, defense.
- Notable Investments: Anduril, Shield AI.
- Breyer Capital
- Details: Founded by Jim Breyer, Breyer Capital is a global venture capital and private equity firm. The firm is known for its investments in transformative technology companies.
- Investment Focus Areas: Technology, media, healthcare.
- Notable Investments: Facebook, Etsy, Marvel Entertainment.
- Revolution’s Rise of the Rest Seed Fund
- Details: Revolution’s Rise of the Rest Seed Fund, led by Steve Case, focuses on investing in startups outside of major tech hubs. The fund aims to support entrepreneurial ecosystems across the United States.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: AppHarvest, Catalyte, BacklotCars.
- Good Growth Capital
- Details: Good Growth Capital is a venture capital firm that invests in early-stage and growth-stage companies. The firm is known for its focus on science and technology-driven startups.
- Investment Focus Areas: Biotechnology, clean technology, advanced materials.
- Notable Investments: P2 Science, Proscia, 3Bar Biologics.
- BootstrapLabs
- Details: BootstrapLabs is a venture capital firm specializing in artificial intelligence. The firm focuses on investing in early-stage startups that leverage AI to solve significant problems.
- Investment Focus Areas: Artificial intelligence, cybersecurity, fintech.
- Notable Investments: AEye, Savioke, Qurious.io.
What's Next for Pryon?
Pryon stands at the cusp of significant growth, with opportunities to expand into sectors like finance, government, and industry. The recent $100 million funding round, led by the US Innovative Technology Fund, underscores the vast potential in AI technologies. As businesses increasingly seek reliable AI solutions, Pryon's platform is well-positioned to meet this demand.
Future fundraising seems promising, given the heightened interest in AI and Pryon's proven track record. However, the company must navigate challenges such as intense competition and the need to maintain trust in its AI systems. Staying ahead in the rapidly evolving AI landscape will be crucial for Pryon's continued success.
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