Ephesoft Inc., a Laguna Hills, CA-based developer of document capture and analytics solutions that extract meaning from unstructured content, completed a $15m Series A financing.
Mercato Partners was the exclusive investor in the round. In conjunction with the funding, Joe Kaiser of Mercato Partners will join the Ephesoft Board of Directors.
The company will use the funds to accelerate product development while expanding operations, market presence and sales channels.
Founded in 2010 by Ike Kavas, Ephesoft has developed advanced machine learning solutions that capture, extract and analyze unstructured content. Its Transact and Insight platforms are leveraged by financial institutions to fast track mortgage processing and approvals, by government agencies to identify anomalies in over two million background investigations, and by companies across all markets to accelerate invoice approvals, automate patient records, and improve document-driven business processes.
The company has over 500 customers globally ranging from financial services, Federal government, insurance, mortgage and healthcare sectors in over 30 countries.