Veryfi, a San Mateo, Calif.-based AI-based data transformation platform for enterprise and technology corporations, raised $12M in Series A financing.
The round was led by NewView Capital, with participation from TI Platform Management and existing investor Act One Ventures. With the funding, Jazmin Medina of NewView Capital will be joining the Veryfi board.
The company intends to use the funds to continue to expand operations and its business reach.
Founded in 2016 by Ernest Semerda and Dmitry Birulia, Veryfi provides a suite of data transformation APIs designed to securely capture, extract, and transform unstructured data (in the form of emails, PDFs, paper receipts, media files, invoices, etc.) into business intelligence in seconds. Veryfi serves companies delivering financial services and tools, such as expense management, bookkeeping, accounts payable, and B2B payments.