Ocrolus raises $24 million to scan financial documents with computer vision - VentureBeat
Ocrolus raises $24 million to scan financial documents with computer vision - VentureBeat Ocrolus raises $24 million to scan financial documents with computer vision - VentureBeat Posted: 25 Jun 2019 06:30 AM PDT Ocrolus , a New York startup that taps AI and machine learning to parse financial documents, today announced it has raised $24 million in a series B round led by venture growth equity firm Oak HC/FT. Ocrolus cofounder and CEO Sam Bobley said the fresh capital, which follows a $4 million series A in April 2018 and brings the company's total raised to about $30 million, will fuel expansion into verticals like consumer and auto lending and advance development of the company's underwriting solutions for banks. "Sometimes humans are better than robots," said Bobley, who added that Ocrolus has quintupled in size since April 2018 and now counts hundreds of financial services companies among its customer base. "We co