Ripcord Raises Additional $45M in Series B2 Funding


Ripcord, a Hayward, Calif.-based robotics digitization company, raised an additional $45m in Series B2 funding.

The round was led by CDK Global (Nasdaq: CDK) with participation from existing investors Kleiner Perkins, GV, Steve Wozniak, Silicon Valley Bank, Lux Capital, Tyche Partners, Icon Ventures and Baidu.

The company, which has now raised over $120m in total funding, intends to use the funds to expand in additional vertical markets across North America and globally.

Led by Alex Fielding, founder and CEO, Ripcord makes robots that scan, index and categorize paper records, making them searchable in the cloud and integrated into existing business processes. The company works with notable brands such as Coca Cola, BP and Chevron, MUFG Bank, UCLA, Cantium, and a number of Fortune 100 companies, including three of the top five financial services and three of the top five insurance companies.



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