Outbound AI joins Microsoft's Pegasus Program

Seattle-based Outbound AI, a provider of AI-powered virtual agents for administrative tasks, has been selected to participate in Microsoft's invite-only Pegasus Program. Outbound AI specialises in conversational AI tools for healthcare, offering 24/7 virtual agents focusing on tasks related to the revenue cycle, such as eligibility and benefits verification, claims status, and prior authorisation. The platform utilises Outbound's proprietary Conversational AI Cloud and is hosted on Microsoft's Azure. The Pegasus Program, exclusive to companies using Microsoft's technology, assists startups with demonstrated product-market fit by providing cloud resources and mentoring services.

Outbound AI's CEO, Stead Burwell, expressed excitement about joining the Microsoft for Startups Pegasus Program, emphasising the validation of their work and the value they bring. Last year, Outbound AI secured $16 million in seed funding, intending to use the funds to accelerate sales and marketing efforts, explore new use cases for administrative technology, and establish programs with new partners. The company's participation in the Pegasus Program aligns with its goals for enterprise go-to-market initiatives and leverages Microsoft's expertise and support.

In the broader market, other players like Hyro, offering conversational AI platforms for healthcare, have also attracted significant funding. Hyro, known for its AI-powered call centre and GPT-powered assistant Spot, recently raised $20 million in Series B funding, bringing its total funding to $35 million.