Lyzr Inc., a startup that helps enterprises build artificial intelligence agents, is reportedly raising a funding round worth about $100 million. 

Bloomberg today cited sources as saying that the deal has drawn $400 million worth of interest from prospective investors. The group reportedly includes Silicon Valley funds, Middle Eastern venture capital firms and financial institutions. The round is expected to value Lyzr at $500 million, double what it was worth in March.

Developers turn an AI model into an agent by equipping it with software tools, information and safety guardrails that enhance its capabilities. The implementation process can take upwards of weeks. Two-year-old Lyzr offers a cloud platform that enables developers to complete the task in a few minutes.

The starting point of a Lyzr project is a no-code development wizard. Agent Studio, as the tool is called, enables users to create agents with natural language prompts. It provides the ability to customize details such as the large language model that powers an agent.

A prepackaged RAG, or retrieval-augmented generation, module gives agents access to data information in external systems. A second tool called Cognis enables agents to save data entered by users. It can extract key details from a chat session, organize them in a tabular record and save the file to a relational database. Agents can retrieve the information using SQL queries.

According to Lyzr, its platform also lends itself to building automation workflows that comprise multiple agents. The software includes a component that can break down a complex task into smaller steps and assign each one to a different agent. The module automatically defines details such as the order in which steps are carried out and the way processing errors should be corrected.

The platform ships with a set of agent guardrails designed to prevent misuse. An input filter scans user requests for personally identifiable information, malicious code and other potential risks. When an agent generates a prompt response, Lyzr’s platform checks it for accuracy.

The company offers its development tools alongside more than 100 prepackaged agent templates. They automate common business tasks such as organizing lead data and onboarding suppliers. According to Lizr, its platform reduces the amount of work involved in deploying agents by more than 70%.

According to Bloomberg, Lyzr is using one of its agents to process inbound queries about the funding round that it’s currently raising. The agent is responsible for tasks such as creating investment memos, documents that explain why a fund should back a startup.

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