Hyphenate raises $45M Series A led by Nexus Venture Partners for autonomous finance

Hyphenate, the autonomous finance platform formerly known as Maximor, has raised a $45 million Series A led by Nexus Venture Partners. B Capital participated, alongside existing investors Foundation Capital, BoldCap and Gaia Ventures. Total funding is now $54 million, and the round comes less than a month after the rebrand.

The New York company was founded in 2024 by former Microsoft finance transformation leaders Ramnandan Krishnamurthy, the CEO, and Ajay Krishna Amudan. Its agents run on top of a company's ERP and banks across order-to-cash, treasury, GL accounting, procure-to-pay and reporting.

Hyphenate says it has passed multi-million-dollar ARR since a $9 million seed a year ago, and that 40% of customers expand within their first year. HiBid has run more than $2.5 billion of GMV through it and cut its month-end close from three weeks to one day. Groupon and Synthesia are rolling it out across finance. These figures are company-reported.