About Invofox

Invofox is an AI-driven tool that automates the extraction of data from various document types, including invoices and receipts, without human intervention. This technology enables businesses to efficiently process and validate document information, significantly reducing manual data entry errors and improving operational efficiency.

```xml <problem> Many organizations still rely on manual data entry for processing documents like invoices and receipts, leading to errors, inefficiencies, and delays in critical business workflows. Extracting data from diverse document formats is time-consuming and costly, hindering scalability and agility. </problem> <solution> Invofox provides an AI-powered Intelligent Document Processing (IDP) platform that automates the extraction, sorting, and validation of data from various document types, regardless of their format. The platform leverages machine learning algorithms to accurately capture over 80 data fields from invoices, receipts, purchase orders, utility bills, and other documents. By automating document processing, Invofox eliminates manual data entry errors, accelerates workflows, and enables businesses to optimize resource allocation across accounting, finance, and other departments. The platform offers a developer-first API for seamless integration into existing software applications and ERP systems, along with webhooks for real-time event notifications. </solution> <features> - AI-driven data extraction from invoices, receipts, bills of lading, purchase orders, and other document types - Support for diverse document formats and layouts - Automated document sorting and classification - Extraction of over 80 data fields, including header information and line items - Real-time exchange rate maintenance for payment solutions - Developer-first API for seamless integration with existing software - Webhooks for asynchronous notifications of document processing events - Data verification and HITL (Human-in-the-Loop) capabilities for quality assurance - Compliance with ISO 27001, SOC 2, and HIPAA standards </features> <target_audience> Invofox targets software companies, developers, scale-ups, and startups, particularly those in the ERP, payment solutions, accounting software, expense management, document management, and sustainability sectors. </target_audience> ```

What does Invofox do?

Where is Invofox located?

Invofox is based in Madrid, Spain.

When was Invofox founded?

Invofox was founded in 2015.

How much funding has Invofox raised?

Invofox has raised 500000.

Location

Madrid, Spain

Founded

2015

Funding

500000

Employees

60 employees

Major Investors

Y Combinator

Find Investable Startups and Competitors

Search thousands of startups using natural language

AI voice (2021+)underground pipe robots energy flexibility software

Start Searching

Invofox

⚠️ AI-generated overview based on web search data – may contain errors, please verify information yourself! You can claim this account with your email domain to make edits.

Executive Summary

invofox.com 2K+

Crunchbase

Founded 2015 – Madrid, Spain

Funding

Estimated Funding

$500K+

Major Investors

Y Combinator

Team (50+)

No team information available.

Company Description

Problem

Many organizations still rely on manual data entry for processing documents like invoices and receipts, leading to errors, inefficiencies, and delays in critical business workflows. Extracting data from diverse document formats is time-consuming and costly, hindering scalability and agility.

Solution

Invofox provides an AI-powered Intelligent Document Processing (IDP) platform that automates the extraction, sorting, and validation of data from various document types, regardless of their format. The platform leverages machine learning algorithms to accurately capture over 80 data fields from invoices, receipts, purchase orders, utility bills, and other documents. By automating document processing, Invofox eliminates manual data entry errors, accelerates workflows, and enables businesses to optimize resource allocation across accounting, finance, and other departments. The platform offers a developer-first API for seamless integration into existing software applications and ERP systems, along with webhooks for real-time event notifications.

Features

AI-driven data extraction from invoices, receipts, bills of lading, purchase orders, and other document types

Support for diverse document formats and layouts

Automated document sorting and classification

Extraction of over 80 data fields, including header information and line items

Real-time exchange rate maintenance for payment solutions

Developer-first API for seamless integration with existing software

Webhooks for asynchronous notifications of document processing events

Data verification and HITL (Human-in-the-Loop) capabilities for quality assurance

Compliance with ISO 27001, SOC 2, and HIPAA standards

Target Audience

Invofox targets software companies, developers, scale-ups, and startups, particularly those in the ERP, payment solutions, accounting software, expense management, document management, and sustainability sectors.