A startup that builds AI agents used one to raise $100m

A startup that helps enterprises build AI agents proved the technology’s value in the most practical way possible: by deploying one during its own fundraising.

Lyzr Inc’s system ran outreach for its Series B round, which is on track to raise $100 million at roughly a $500 million valuation, according to the company.

It responded to queries from more than 130 investors and helped draft dozens of investment memos. In the end, the Accenture Plc-backed firm drew $400 million in interest from Silicon Valley funds, Middle Eastern venture firms and financial sector investors, it said.

AI agents have exploded in popularity following the release of OpenClaw, an open-source framework that lets users automate complex tasks like prioritising emails or booking flights.

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But with mounting cybersecurity concerns over the technology, firms like Lyzr see an opportunity to build secure agentic systems for enterprises.

The New York-based company was valued at $250 million in a Series A round earlier this year and said its revenue has grown more than 250% in each of the past three quarters.

It describes its AI platform as an “agent factory in a box” that allows companies to build autonomous AI systems inside their own infrastructure.

That keeps sensitive data and intellectual property from leaving their walls. Lyzr said its system has been used by consulting firms Accenture, Deloitte LLP and KPMG LLP to build custom agents for clients.

While the most human aspects of fundraising such as personal relationships and performing due diligence might never be fully automated, in Lyzr’s latest round analysts pressed the AI system on product positioning, competitive threats and its business model. Some asked it to help them pitch Lyzr to their own investment committees.

“It just sped up our fundraising process,” said Siva Surendira, Lyzr’s co-founder after whom the SivaClaw agent is named.

“Once it’s trained with the right data, it can do a lot of the heavy lifting,” he said, adding that the company is planning to open-source the tool, which was developed by its engineering team in Bangalore.

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Accelerating the evaluation process

Nishant Rao, a founding partner at Bangalore-based Avataar Venture Partners and one of the investors that engaged with SivaClaw in its latest round, said the experience “meaningfully accelerated the early stages of our evaluation.”

However, he added: “AI agents are still not at the level where they can end up materially accelerating the diligence process per se.”

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The agent tracked how investors interacted with the presentation. Those included Atlanta-based Open Opportunity Fund, a SoftBank Group Corp.-seeded vehicle later acquired by a duo including former executive Marcelo Claure.

SivaClaw noted which sections they lingered on and where they clicked, giving Lyzr a read on how different backers were sizing up its team, technology and revenue.

“That helped us sort which investors were a better fit,” Surendira said.

To run SivaClaw, Lyzr built and developed GitAgent, an enterprise alternative to OpenClaw that is now used by major banks, telecom operators and consulting firms.

The company has also created a sovereign version of its AI agent platform for clients including insurance brokerage Willis Towers Watson Plc, electronic payments firm VeriFone Inc as well as several US government agencies, Surendira said.

In-Q-Tel Inc, a nonprofit that deploys funds from US intelligence agencies, has made a strategic investment in the company, he added.

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