Provides an OCR API platform that uses AI-driven document capture and data extraction to process financial documents like receipts, invoices, and bank statements in real time. This eliminates manual data entry, reduces processing time, and enables seamless integration with applications in industries such as FinTech, construction, and real estate.
Funding
$12.7M 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.
EYNCTPFounders
Product
Problem
Manual data entry from financial documents like receipts, invoices, and bank statements is time-consuming, error-prone, and costly for businesses. Extracting data from these documents often requires significant human intervention, slowing down processes and increasing operational overhead.
Solution
Veryfi provides an OCR API platform that leverages AI to automate document capture and data extraction from various financial documents. The platform offers a suite of tools, including mobile capture frameworks and APIs, to process receipts, invoices, bank statements, checks, and other document types. By automating data extraction, Veryfi eliminates manual data entry, reduces processing time, and enables seamless integration with existing applications. The platform also offers data services such as fraud detection, product matching, and a business rules engine to enhance data accuracy and utility.
Target Audience
Veryfi targets businesses across various industries, including FinTech, construction, and real estate, that need to automate financial document processing. Specific use cases include accounts payable automation, bill payment, expense management, and loyalty program enablement.
Features
- Document capture via mobile lens, browser, and WhatsApp chatbot
- Data extraction APIs for receipts, invoices, bank statements, checks, W-2s, and W-9s
- Support for various document types using a large language model (∀Docs LLM)
- Data services including fraud detection, product matching, and a business rules engine
- SDKs for C Sharp, Dart, Go, Java, Kotlin, Node.JS, PHP, Python, Ruby, Rust, JavaScript, and Swift
- Mobile document capture framework that enhances document quality with minimal code
- Global bank-grade security and compliance with SOC 2 Type 2, GDPR, HIPAA, CCPA, and ITAR standards