Hupo AI, an enterprise AI startup backed early on by Meta’s investment arm, has raised $14 million in Series A funding led by DST Global Partners, just over a year after renaming its original mental health platform AMI Labs.
According to documents filed with Singapore’s Accounting and Corporate Regulatory Authority (ACRA), DST Global’s investment vehicle Gemini Investments led the round by buying back 1,764,077 shares for $6.99 million.
Collaborative Fund purchased 378,016 shares for $1.5 million, while Strong Ventures acquired 205,181 shares for $814,175. January Capital Fund also invested in 987,220 shares for $1.34 million and Goodwater Genesis purchased 145,248 shares for $193,483.
Other investors also participated, bringing the total raised to $14 million.
Hupo AI previously raised $3 million in seed funding investors, including Meta’s New Product Experimentation (NPE) Teammarking the first investment in a startup from parent company Facebook in the Asia-Pacific region.
Since pivoting to AI-based business coaching, the startup said it has acquired more than 20 corporate clients, including insurers and banks such as AXA, Prudential, Manulife, HSBC, Bank of Ireland, Grab and UOB.
After shifting its initial focus on mental health, Hupo AI now offers an AI-powered sales coaching platform that helps sales teams at companies in the banking, insurance, and financial services industries improve performance, accelerate onboarding, and increase conversion rates.
“It’s rare to see a company generate real revenue this quickly, and even rarer to see it happen in a market as complex and difficult to penetrate as banking and insurance. Hupo’s early successes aren’t just about growth; it’s about earning trust in one of the most demanding business environments.” Collaborative fund said his partner Andrew Montgomery in a statement.
According to the company’s metrics, clients are estimated to have increased the value of their contracts three to eight times in six months, while new sales recruits reach their first sales in about 25% of the typical time.
In cohorts across three countries, Hupo observed engagement rates 10-15% higher than average. “In the insurance industry, most AI providers are at the forefront of technology. Hupo stood out because it understood our frontline reality,” AXA Arjan Wes, chief commercial officer for Southeast Asia, said in a statement.