Veryfi

Today, enterprises across all industries are investing tremendous amounts of capital to make sense of their data. Approximately 80% of an organization’s entire data set consists of unstructured data.

While unstructured data represents a tremendous opportunity for businesses, it also presents significant challenges. Many existing document processing solutions have low accuracy rates and often require human analysis to fill in the gaps. Human error is a very real and costly problem for enterprises across industries – it’s estimated that the error rate in accounting is 27.5%, and 80% of all medical bills contain errors.

Veryfi is on a mission to eliminate manual data entry. Founded by a duo of Silicon Valley technology pioneers originally from Australia and Belarus, whose families both had members working as bookkeepers, the company has developed advanced software to overcome this tedious, costly, and error-prone business process.

Veryfi uses its innovative Artificial Intelligence (AI) software to provide Intelligent Document Processing. Veryfi AI is pre-trained to extract and transform unstructured data from receipts, invoices, purchase orders, checks, W2s and other business documents into structured data, in seconds, without a human in the loop. Trusted by enterprises and technology companies alike, Veryfi’s AI-based platform is currently in use at hundreds of organizations worldwide.

Invoices, Bills & POs: 10 mins of data entry per invoice? No way! 5 seconds and it's done.
Receipts & Hotel Folios: No more painful data entry for expense management.
FMCG/CPG Receipts: Understand consumer spend across retail from SKUs in seconds.
W-2 Tax Form: Extract tax data from W2s in seconds.
Cards: Capture data from Credit Cards, Business Cards and Insurance Cards in seconds.

Veryfi is based in San Mateo, CA and is backed by NewView Capital (NVC), Act One Ventures, TI PLatform, Y Combinator and Zillionize. Learn more at https://www.veryfi.com/.