- December 13, 2023
- AI in Business
HyperPlane, a startup based in San Francisco, is emerging from stealth mode today, unveiling a $6 million funding round led by former Stripe executive Lachy Groom. Other contributors include SV Angel, Clocktower Technology Ventures, Liquid2 Ventures, Soma Capital, Latitud, Atman Capital, Crestone VC, and Norte. The primary objective is to assist banks in leveraging their proprietary data to craft personalized customer experiences through predictive analytics.
Presently engaged with approximately twelve banks in Brazil, HyperPlane has ambitious plans to extend its operations to the U.S. Despite its current focus on the banking sector, the company envisions extending its technology to various other industries in the future.
Founded by Felipe Lamounier, Daniel Silva, Rohan Ramanath, and Felipe Meneses, HyperPlane’s CEO, Lamounier, brings seven years of experience from building StartSe, an EdTech startup in Brazil. Meanwhile, Silva and Ramanath, with backgrounds at Google and LinkedIn, have expertise in developing large-scale AI systems.
Ramanath elucidated their initial hypothesis: constructing a personalization layer for global banks. He emphasized that while major technology companies possess extensive first-party data, banks have unparalleled granular data about their clients. This detailed information, according to Lamounier, is more potent for predicting user behavior than data held by Google or Facebook.
At present, banks generally offer minimal personalized experiences, providing an opportunity for HyperPlane to elevate the standard. The company offers APIs to enable banks to construct personalized models dynamically. Notably, all deployments are private, and HyperPlane does not engage in data sharing. The company deploys its own models and offers two modules: one for building audience segments and another for generating lookalike audiences.
HyperPlane recently introduced Mandelbrot LLM, a model designed to aid banks in predicting customer churn and identifying primary bank users. The company claims that one neobank in Brazil, utilizing its services, increased transaction volume by 46% by gaining a clearer understanding of customer estimated income.
Lamounier expressed optimism about the Brazilian market’s willingness to adopt new technologies, citing an ecosystem primed for innovation. HyperPlane plans to announce its first partnerships in the U.S. soon and asserts that its cloud infrastructure can scale across markets seamlessly.
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