Pryon, an artificial intelligence (AI) startup, has raised $100m in a Series B funding round led by the US Innovative Technology Fund (USIT).

New and existing investors such as Aperture Venture Capital, BootstrapLabs, Breyer Capital, Duke Capital Partners, Good Growth Capital, Omnimed Capital, and Revolution’s Rise of the Rest Seed Fund also participated in the round.

The startup offers an AI-powered platform featuring chatbot or search-style interfaces that allow users to sift through businesses’ unstructured data.

Pryon’s no-code platform ingests multimodal content such as audio, image, text, and video files and converts them into a knowledge fabric, Pryon explained.

Through natural language prompts, customers can access insights on both mobile and the web, the Raleigh, North Carolina-based company added.

The company plans to use the funding to speed up its growth, increase its team, expand international operations, and forge strategic partnerships.

Currently, Pryon’s solutions are said to be used by clients operating in sectors such as energy, technology, government, financials, healthcare, industrials, materials, and utilities.

The startup did not disclose its valuation. Citing sources, Bloomberg reported that the round values Pryon at over $500m.

Elizabeth Stein from USIT and Carolyne LaSala from Good Growth Capital joined the board of directors of Pryon as part of the Series B investment.

Pryon founder and CEO Igor Jablokov said: “My lifelong goal, and Pryon’s mission, is to reduce the distance between knowledge and people, especially for those who make up the backbone of critical infrastructure. Our platform brings organisations to a state of knowledge flow, empowering a decision advantage grounded in confidential, trusted, and verifiable information.”

“This funding round ensures Pryon’s continued leadership in transforming previously static content into actionable intelligence within academic, commercial, government, and nonprofit environments.”

USIT chairman Thomas Tull said: “Pryon’s unique innovations fill a void in America’s critical information systems, delivering augmented and secure intelligence to organizations of all sizes.

“We believe Pryon’s platform offers clients a competitive advantage and look forward to supporting the company as it scales its business to bring these important solutions to market.”