Ocrolus Analysis: $139M Raised
What is Ocrolus?
AI-driven document automation for financial analysis
Employees
201-500
Founded
2014
Latest Funding Round Size
$139M
Market Position
Leader
Product Features & Capabilities
- Classify financial documents with machine learning
- Capture and structure data using computer vision
- Detect suspicious activity with tampering validation
- Analyze cash flow and income with normalized data
- Support various document types for comprehensive analysis.
Use Cases
Evaluate cash flow using bank data analytics; Calculate income for diverse employment profiles; Extract and validate address information from documents; Retrieve employment data from multiple sources; Confirm identity using various document types.
How much Ocrolus raised
Funding Round - $139M
RecentOther Considerations
Raised $50M Series B in 2023; Serves notable clients like Bluevine and Brex; ISO 27001 certified for security compliance.
Future Outlook
Ocrolus predicts that by 2025, lenders will adopt a more balanced approach to AI-assisted mortgage lending. They expect AI to excel in tasks such as document classification and data extraction, which will enhance efficiency in the lending process. The company is optimistic about a favorable credit market, driven by positive economic trends, which will further encourage the integration of AI in financial services.
Awards Recognition
Ocrolus has received notable recognitions including being ranked as the #28 fastest-growing company on Deloitte's Technology Fast 500 list and the #1 fastest-growing software company in New York in 2020. Additionally, they were shortlisted for the Best AI Solution at the Banking Tech Awards USA for their products, Ocrolus Instant and Ocrolus Cash Flow Analytics.
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