Swedish Hypertype scores €600,000

Sweedish startup Hypertype, founded in 2021, has secured SEK 7M in a round led by Butterfly
Ventures and Bust. The company plans to expand and focus on marketing and sales of its AI
service that automates customer communication.

Hypertype was founded in 2021 by Teenie Fung and Beatrice Baltscheffsky. The service helps customer support representatives and salespeople automate and simplify communications with customers using AI. The founders recognized early on the potential of AI in customer-facing roles and identified a gap in the market, noting the time-consuming nature of finding the right information to provide high-quality responses. With Hypertype's AI service, employees gain quick and easy access to high-quality, company-specific information that helps improve
response time, quality, and service to customers.

"Hypertype’s main strength lies in the product’s unique information retrieval. Generating generic and simple text is easy today, but incorporating your company’s specific information and data to ensure the quality of the text is harder. By combining information retrieval with qualitative text generation, we solve a major problem for many companies and employees today," commented co-founder and CEO Teenie Fung.

After dedicating three years to building the product, Hypertype is now ready to scale up, having secured SEK 7 million in a funding round led by Butterfly Ventures, along with Bust. Other new investors include Bling Capital and angels such as Margaux Dietz and Baltsar Sahlin, CEO and founder of Mynt. Previous investors such as Luminar Ventures and Fredrik Olsson continue to invest in the company.

“We are excited to lead this financing round for Hypertype. Considering the team, technology, customer benefits, and adoption, Hypertype’s unique offering stands strong. We look forward to the journey with the Hypertype team, especially as the company gains customers across the Nordics, Europe, and then in the USA," says Tanya Horowitz, partner at Butterfly Ventures.

Teenie Fung shared: “The investment is an opportunity for us to reach more users and a significant validation that the product we have built addresses a clear problem. We already have high customer satisfaction and loyal users, and with the experienced investors we now have, we can focus on even more growth.”

Hypertype already has over 200 paying companies and can show high customer satisfaction and low churn. An internal customer survey showed that Hypertype saves a user an average of 7 minutes per response while improving the quality and consistency of the responses. Fintech company Mynt is a customer, and their CEO Baltsar Sahlin has also joined as an angel investor in the funding round.

"We have implemented Hypertype for our customer support, and it helps us become more efficient as we can handle cases faster without compromising quality. There is great potential in both the product and the team. It feels exciting to be part of and contribute to this journey." says Baltsar Sahlin.