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YURTS ANNOUNCES $16 MILLION IN SERIES A FUNDING TO ACCELERATE GROWTH
News provided byYurts AI
Sep 19, 2023, 6:00 AM ET
The Startup is Focused on Secure, Turnkey Gen-AI Solutions for the Enterprise
SAN FRANCISCO, Sept. 19, 2023 /PRNewswire/ -- Yurts, the enterprise-ready Generative AI platform, today announced a $16 million Series A to support its acceleration into the market. The oversubscribed funding round was led by Nava Ventures, with additional investments from XYZ Ventures, Bloomberg Beta, Mango Capital, and Essence VC. Yurts will leverage the capital to continue to build its secure AI platform and expand its technology team. This announcement follows a strategic partnership Yurts announced earlier this year with Nvidia and Lambda Labs to bring the secure GenAI platform to the market.
"At Nava Ventures we invest in companies that address deep needs and evolve to products that become a part of everyday life," said Manish Patel, Founder of Nava Ventures. "Yurts takes the power of AI and makes it practical and accessible to the modern enterprise. Its full-stack turnkey solution enables the average employee to become a 10x employee, changing the game for small and large businesses alike."
Yurts is on a mission to help connect people to their best work. By leveraging Large Language Models (LLMs) and the practical power of GenAI applications, the company is transforming knowledge management and enterprise workflows at scale. Yurts can go wherever you work and be deployed across any cloud environment, within private data centers, or on individual workstations.
"In these early stages of using Generative AI, enterprise CXOs must reimagine how they think about the knowledge within their organization, and how that knowledge turns into productivity and outcomes," said Ben Van Roo, CEO and co-founder of Yurts. "We want to partner with them and ultimately make their job easier, so they can focus on empowering their organizations and reshaping how work gets done."
With a founding team that built products that served regulated industries and national security customers, Yurts understands the importance of secure, explainable AI solutions. Recognizing that language-based AI is essential to the evolution of government - and any large organization - Yurts set out to build a solution customers can trust with their most mission-critical data. By starting with the portions of the market with the highest standards, Yurts set a foundation to raise the bar for Generative AI security, reliability, and trustworthiness worldwide.
The Yurts platform unlocks the following potential for enterprises:
- The information you care about: The platform converges documents from various spaces like SharePoint, Teams, Slack, Google Docs, molding them into an accessible repository that allows flexibility and control. With roots as the go-to solution for the defense industry, the technology also delivers best-in-class security and reliability.
- Farewell to scattered searches & data silos: The platform helps people find, connect, and communicate faster across the vast black hole that is enterprise systems, applications and documents. Turning what used to take hours into minutes.
- Work faster where you are: Yurts accelerates workflows through Yurts application interfaces or within pre-existing applications. The models can be tuned to be on brand, reduce hallucinations, and provide accurately cited sources.
- Cost and complexity are no longer a barrier: Work smarter NOT harder. The platform seamlessly integrates with existing systems. Without long implementation timelines, high GPU costs, or in-house machine Learning/AI experts.
Yurts already counts both private sector companies and public sector organizations as a part of its customer base, including contracts with the Department of Defense and Department of Energy. "We see data security as table stakes and know that when deploying AI privacy is top of mind for nearly every CXO," added Van Roo.
To learn more about Yurts please visit www.yurts.ai.
Founded in 2022, Yurts is an enterprise-ready GenAI platform on a mission to help connect people to their best work. By leveraging Large Language Models (LLMs) and the practical power of GenAI applications, Yurts is transforming knowledge management and enterprise workflows at scale. Yurts was co-founded by Ben Van Roo Guruprasad Raghavan, and Matt Thomson. To learn more please visit www.yurts.ai.
Nava Ventures was founded in 2021 with a focus on Series A technology investing. Nava is a lead investor, built on a craftsman-like approach to venture capital. Our team has more than a decade of experience investing in early stage start-ups, and has been fortunate to partner with exceptional entrepreneurs who have scaled their businesses from idea to IPO. We look to invest in those technologies that transform industries and reshape our everyday lives. For more information, please visit www.nava.vc.
SOURCE Yurts AI
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