Rossum, a London, UK and Prague CZ-based AI B2B document communication company, raised $100M in Series A funding.
The round was led by General Catalyst with participation from LocalGlobe, Seedcamp, Miton and Elad Gil.
The company intends to use the funds to invest in product development, hire engineering and AI talent, open new hubs in the US, Europe and Asia and a research center in Prague, dedicated to B2B document communication, in co-operation with Czech universities.
Founded in 2016 by AI PhD students Tomas Gogar, Petr Baudis and Tomas Tunys, Rossum leverages an AI engine to provide cloud-based solutions for businesses to send documents to each other and save users typically over 90% of the manual work. The document gateway frees up human teams from onerous data entry work, links all related documents in a transaction, keeps transactions on timetable with automated data flows and integrates documents with other enterprises systems, including SAP and Oracle.
The company serves hundreds of the world’s best companies ranging from business software vendors like Celonis to Fortune 500 class enterprises such as Bosch, Cushman & Wakefield, COSCO Shipping, Delivery Hero, Deloitte, EY, K+S, Molson Coors, PepsiCo, Siemens, Suez and Veolia.
The next stage of Rossum’s journey will see it expand its product and partner ecosystem around specific verticals including finance, logistics, insurance and order management.