Ocrolus, a NYC-based automation platform that analyzes financial documents, raised $24M in Series B funding.
The round was led by Oak HC/FT, with participation from FinTech Collective and existing investors including Bullpen Capital and QED Investors, among others.
The company, which has now raised over $30m in venture-capital, intends to use the funds to develop workflows for new document types, improve its fraud detection and analytical capabilities for lenders and banks, and expand into new verticals.
Led by Sam Bobley, Co-founder and CEO, and Vik Dua, Chief Operating Officer, Ocrolus provides an artificial intelligence and crowdsourced human quality control automation platform that analyzes financial documents allowing companies to eliminate manual reviews with speed and accuracy.
The company services hundreds of customers in the financial sector and analyzes millions of data points every day.