Valid8 operates a cloud-based Verified Financial Intelligence platform that utilizes AI to extract and reconcile financial data from various document formats, including PDFs and handwritten checks. This technology enables forensic accountants, auditors, and investigators to prepare accurate financial evidence in hours, significantly reducing the time and risk associated with manual data entry and analysis.
Funding
$16.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
CCFT+1Founders
Product
Problem
Forensic accountants, auditors, and investigators face significant challenges in extracting and reconciling financial data from diverse document formats, including PDFs and even handwritten checks. Manual data entry and analysis are time-consuming, prone to errors, and increase the risk of overlooking critical financial discrepancies.
Solution
Valid8 offers a cloud-based Verified Financial Intelligence (VFI) platform that leverages AI to automate the extraction, verification, and reconciliation of financial data from various sources. The platform transforms raw banking evidence and accounting data into courtroom-ready evidence, significantly reducing the time required to prepare accurate financial evidence. Valid8 enables users to trace the flow of funds quickly and accurately, providing a visual narrative of financial data. By automating data extraction and reconciliation, Valid8 helps teams uncover the full financial truth, base professional opinions on indisputable facts, and increase output without increasing headcount.
Target Audience
Valid8 primarily serves forensic accountants, auditors, investigators, attorneys, and government agencies involved in financial investigations, disputes, and compliance.
Features
- AI-powered data extraction from bank statements, check images (including handwritten), deposit slips, and accounting system extracts
- Automatic matching of check images and deposit slips with line items to bank statement transactions
- Automated transaction categorization by description, amount, date, counterparty, location, and category/subcategory
- Normalization of multiple currencies based on daily exchange rates
- Built-in quality control to highlight data quality issues and ensure numerical precision
- Visual overview to identify missing data and flag incorrect or duplicate data
- Interactive visualizations to track spending and identify suspicious transfers
- Hyperlinks from every transaction to the statement evidence for easy review
- Secure, cloud-based platform with flexible access and consolidated case monitoring