NEXT STEP DESK

OpenAI has acquired personal finance startup Hiro Finance, the company’s founder, Ethan Bloch, announced last week. Terms of the deal were not disclosed. Hiro, which launched its AI-powered financial planning tool about five months ago, will stop accepting new signups immediately. Bloch wrote in a public message to users that joining OpenAI would allow the team to pursue its mission of improving financial well-being “at a much larger scale for a much broader audience.”

According to a report by TechCrunch, the startup was backed by venture capital firms Ribbit, General Catalyst, and Restive. It never publicly disclosed its total funding. Hiro employees will join OpenAI as part of the transaction, according to Bloch, though exact numbers were not provided. LinkedIn lists roughly ten individuals associated with the company.

Hiro allowed users to input financial details such as salary, debts, and monthly expenses to model different scenarios and aid decision-making. The app was specifically trained to handle accurate financial calculations, as per the company.