OpenAI Acquires Financial Planning Startup Hiro Finance
OpenAI has acquired Hiro Finance, a startup that built an AI tool to automate financial plan creation. The company announced the deal Monday without disclosing terms.
Hiro's software uses a chatbot to gather information about a user's income, expenses, and investments, then generates a financial plan displayed as a dashboard. Users can create multiple scenarios-testing how a 5% versus 7% annual return would affect their finances, for example-without manual spreadsheet work.
The platform includes verification features, such as a spreadsheet view showing all data points used in calculations. Hiro's roughly 10-person team will join OpenAI. The service shuts down April 20, with user data deleted May 15.
Financial Tools Expand Across AI Chatbots
OpenAI has been building out financial capabilities for professional users. Last month, the company released a ChatGPT plugin for Excel that summarizes complex spreadsheets and generates new ones for budgeting and inventory tracking. The company also rolled out connectors linking ChatGPT to financial data sources including S&P Global and FactSet.
The Hiro acquisition signals where OpenAI sees the highest value. An internal memo showed the company is shifting resources away from consumer-focused "side quests" toward enterprise offerings. That suggests OpenAI will likely integrate Hiro's financial expertise into tools for investment professionals rather than add a standalone financial planning feature to ChatGPT.
Anthropic, which makes the competing Claude chatbot, already offers similar connectors to financial data sources. Last year, Anthropic released a version of Claude with higher usage limits specifically for financial professionals. The Hiro acquisition helps OpenAI close that gap.
Hiro previously raised funding from Ribbit, General Catalyst, and Restive before the acquisition.
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