Hyphenate, the New York finance automation startup that was called Maximor until October 1, raised a $45 million Series A led by Nexus Venture Partners, the company announced on October 27. B Capital joined the round, along with existing investors including Foundation Capital, BoldCap and Gaia Ventures.
The Series A takes Hyphenate's total funding to $54 million, 13 months after a $9 million seed. Hyphenate's software agents reconcile cash, process sales orders, send invoices and keep subledgers current, working on top of the ERP and banking software a business already uses. Hyphenate said its revenue grew 86x in the 12 months after the seed.
Ramnandan Krishnamurthy, Hyphenate's co-founder and CEO, said customers widen what they let the software handle once it has proved itself. “Once a team sees the system handle one workflow to an auditor’s standard, they hand it the next one,” he said.
What Hyphenate's agents do
Hyphenate connects to a company's existing finance systems instead of replacing them, and its agents work in five areas: order-to-cash, treasury, general ledger accounting, procure-to-pay, and reporting. The company said the system learns each customer's practices by training on its old spreadsheets, emails and system logs, then replaying past months to find the exceptions.
Each action is stored with its supporting evidence for auditors, and the agents pass a decision to a person when judgment is needed. Hyphenate said agents now handle 90% of routine finance work across its platform.
The company named Groupon (Nasdaq: GRPN) as a customer, saying the marketplace is moving treasury, order-to-cash and more than a dozen subledger processes onto Hyphenate from older and in-house systems. Groupon's chief financial officer, Rana Kashyap, said in the announcement that “we see it becoming the AI foundation for our entire finance organization.” Hyphenate said Synthesia, the AI video company, is also adopting the software throughout its finance department.
Hyphenate said its customer base grew 11x in 12 months and now includes six public companies, that its annual recurring revenue has passed the multimillion-dollar mark, and that 40% of customers expand within their first year.
Why Nexus led the round
Abhishek Sharma, a partner at Nexus Venture Partners, gave the firm's reason in the announcement.
What makes Hyphenate compelling is that autonomy is already showing up in customer operations.Abhishek Sharma, partner at Nexus Venture Partners
Sharma said finance holds software to an unusually high standard for accuracy, controls and audit evidence, and that Hyphenate had designed for that standard from the beginning.
What the money is for
Hyphenate said it will use the Series A to push its agents into more of the finance function and into strategic finance. When it announced the new name, the company said its larger aim lies upstream, in CFO decisions on pricing, margins, investment and capital allocation.
Hyphenate's About page lists openings for engineers, accountants and salespeople, mostly in New York.
From Maximor to Hyphenate
Krishnamurthy and Ajay Krishna Amudan, both former finance transformation leaders at Microsoft, founded the company in 2024. As Maximor, the company announced a $9 million seed round led by Foundation Capital on September 29, 2025.
Maximor became Hyphenate on October 1, and the Series A followed 26 days later. Krishnamurthy said at the time that the old name had come to stand for only one part of the business. The maximor.ai address now redirects to hyphenate.ai.
The Series A is five times the size of the seed, and the two rounds account for all $54 million the company says it has raised.
