HerculesAI (formerly Zero Systems) has been at the forefront of automating professional services since 2017, initially focusing on the legal industry. The company has been developing robust language models for several years, anticipating the trend long before it gained mainstream attention. When ChatGPT emerged in late 2022, HerculesAI was well-positioned to capitalize on the growing interest in Large Language Models (LLMs).
To fuel its continued growth, the company recently announced a $26 million Series B investment.
CEO and co-founder Alex Babin revealed that HerculesAI had been working on smaller models with up to 2 billion parameters as early as 2020, even running them on edge devices for compliance purposes. However, it wasn’t until the rise of ChatGPT that the significance of their approach was widely acknowledged.
The company now boasts models for intelligent data extraction, data transformation, and data verification. Babin emphasized the critical role of data verification, ensuring accuracy by comparing extracted information to the source of truth.
Driven by these capabilities, HerculesAI has developed a multi-agent system to automate key processes for regulated industries, including legal, insurance, and financial services.
Their AI-driven approach has led to significant growth, with a 4x increase in revenue over the last year. HerculesAI serves major clients such as top law firms, insurance companies, and financial institutions.
Despite the latest funding round, Babin plans to prioritize operational efficiency over expanding headcount, focusing on internal processes and automation to enhance scalability.
The Series B funding was led by Streamlined Ventures, joined by Proof VC, Thomson Reuters Ventures, Alumni Ventures, and industry angels.
