NEW YORK, March 09, 2023 (GLOBE NEWSWIRE) -- OthersideAI, whose AI writing assistant HyperWrite helps you write anything on the web faster and easier with personalized and context-aware AI, has raised $2.8 million in a second round of funding.
The round was co-led by Cortical Ventures and Active Capital, with participation from existing investor Madrona. The round also included new angels such as Furqan Rydhan, Siqi Chen, the founder of Runway and previously the CEO of Sandbox VR, and Aidan Gomez, Ivan Zhang and Nick Frosst, the co-founders of Cohere, a leading AI platform company. Gomez is widely recognized as one of the co-authors of the seminal paper on transformer models that led to the development of GPT-3 and similar systems.
HyperWrite is the ultimate AI writing assistant that helps you write anything faster, better and more accurately. Whether you need to write an email, a document, a blog post, or anything else, HyperWrite will give you smart AI suggestions and completions that match your style and tone, and take the context of your writing task into account. It's like having a professional ghostwriter on demand, right in your browser.
HyperWrite draws from GPT-3 and similar AI systems but goes beyond generating generic text. Leveraging proprietary technology, HyperWrite personalizes the AI for each user, learning from their writing to match their style and tone, and include facts, figures, and information from their own writing. HyperWrite also makes the AI context-aware, meaning it takes the context of the writing task into account. For example, if you're replying to an email, HyperWrite will read the previous messages in the thread to understand the conversation, and generate relevant and coherent responses that sound as if you wrote them yourself.
But HyperWrite is more than just a writing tool. It's a platform. If HyperWrite doesn't offer a template for the type of content you want to write, you can just describe what you want and HyperWrite will create a custom template for you in seconds, which you can then use and tweak as you wish. You can also share these templates on HyperWrite's marketplace, where other users can find and use them. Eventually, these user-created templates will extend beyond writing, towards automating tasks on the web. For example, you could set up a template that automatically manages your calendar, books, travel, orders food, etc.
"We're thrilled to have the support of such amazing investors and partners, who share our vision of building the ultimate personal AI assistant that can do anything you can do on the web, without any human intervention," said Matt Shumer, the co-founder and CEO of OthersideAI. "Writing is one of the most common and valuable things people do on the web, and we're focused on making it easier, faster and more enjoyable for everyone. We're excited about the future of OthersideAI, where we'll enable our users to create and discover workflows for any web-based task with the help of AI."
"OthersideAI is one of the most impressive and innovative AI companies we've seen," said Pat Matthews, the co-founder and CEO of Active Capital, which tripled the size of its OthersideAI investment in this round. "They're not just using AI to generate text, they're personalizing and contextualizing it for each user and each use case. They're also building a platform where users can create and share their own AI-powered tools and workflows, which is a huge opportunity. We're excited to continue to back Matt and his team as they scale OthersideAI and HyperWrite, and redefine how people interact with the web."
"We are excited to partner with Matt and the OthersideAI team as they build the future of personal AI assistants,” said Igor Taber, founder and General Partner at Cortical Ventures. “Matt showed us the potential for a personalized, context-aware assistant you can trust long before this topic was popular. Since then, they have executed flawlessly, demonstrating tremendous user and revenue growth and becoming a clear category leader."
HyperWrite has been around since early 2021, but it has evolved significantly since its first launch. The current iteration of HyperWrite, which is a Chrome extension with personalization and context-awareness, launched in early 2022. Nearly a million people have used HyperWrite to date. Last month, HyperWrite had nearly 200k monthly active users and the extension has over 100k installs on the Chrome Web Store. OthersideAI is also one of the biggest customers of both Cohere and OpenAI, two of the leading AI platform companies.
To learn more about HyperWrite and to start writing with AI, visit hyperwriteai.com or download the Chrome extension.
About OthersideAI
OthersideAI is the creator of HyperWrite, a personalized and context-aware AI writing assistant that helps users write anything faster, better, and more accurately. HyperWrite is powered by GPT-3 and similar AI systems, but it personalizes and contextualizes them for each user and each task. HyperWrite is also a platform where users can create and share their own AI-powered tools and workflows for any web-based task. Otherside is building the ultimate personal AI assistant that can do anything a user can do on the web, without any human intervention. Otherside is backed by Madrona, Cortical Ventures, Active Capital and other industry luminaries. To learn more, visit hyperwriteai.com.
Contact:
Kevin Wolf
kevin@tgprllc.com
