Hyperplane raises $6 million and comes out of stealth
Hyperplane, a San Francisco-based startup, is emerging as a player in the field of foundation models for banking. The company has just announced its emergence from stealth with a significant $6 million funding round.
Former Stripe executive Lachy Groom led this round. The round saw participation from notable firms such as SV Angel, Clocktower Technology Ventures, Liquid2 Ventures, Soma Capital, Latitud, Atman Capital, Crestone VC, and Norte.
The startup aims to assist banks in leveraging their first-party data to create personalized customer experiences by predicting user behavior. Approximately a dozen banks in Brazil already use Hyperplane’s technology.
Per their website, they have been operating since 2022 and have processed over 5 Billion transactions. The company is now expanding to the US market. Hyperplane was co-founded by Felipe Lamounier, Daniel Silva, Rohan Ramanath, and Felipe Meneses. They bring together a diverse set of experiences and skills. Lamounier, the CEO, has a background in building the EdTech startup StartSe in Brazil. Silva and Ramanath have experience creating large-scale AI systems at Google and LinkedIn.
Hyperplane is pioneering the future of banking technology.
The company focuses on building a data intelligence layer for banks worldwide. This enables them to utilize first-party data effectively. This strategy equips banks with the tools to understand their consumers better and integrate personalization into their services.
Banks have much information to help them understand customer behavior and preferences. Most banks currently offer minimal personalized experiences, which Hyperplane’s solution addresses. The company is providing APIs to banks to construct personalization models. This will enhance the overall banking experience for customers. In addition, the company emphasizes privacy. They do not data sharing, using its models exclusively for client projects.
Two main modules are offered for building audience segments and another for creating lookalike audiences. These tools will help banks identify and expand their target audiences by finding users with similar profiles.
Hyperplane has also created the Mandelbrot LLM model, which is tailored to assist banks in predicting customer behaviors like churn or primary bank usage. Hyperplane is looking forward to growth and scaling across different markets, positing itself as a promising entity in the banking and AI technology sector.
