Generative AI startup Yurts raises $16m Series A funding to accelerate growth

Generative AI startup Yurts raises $16m Series A funding to accelerate growth

Published: 19-09-2023 12:40:00 | By: Pie Kamau | hits: 2396 | Tags:

Yurts, the enterprise-ready Generative AI platform, 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 VenturesBloomberg BetaMango Capital, and Essence VCYurts 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.

Manish Patel, Founder, Nava Ventures: "At Nava Ventures we invest in companies that address deep needs and evolve to products that become a part of everyday life. 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.

Ben Van Roo, CEO and Co-founder, Yurts: "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. 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.

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.