Vic.ai, a New York City and Oslo, Norway-based provider of an AI platform for accounts payable (AP) operations, raised $52M in Series C funding.
The round, which brought total capital raised to date to $115m, was led by GGV Capital and ICONIQ Growth with participation from Cowboy Ventures and Costanoa Ventures.
The company intends to use the funds to add modules to its platform in 2023.
Founded in 2017 by Alexander Hagrup and Kristoffer Roil, Vic.ai provides a platform for real-time, autonomous accounting and financial intelligence, which uses autonomy and intelligence to allow 10,000+ customers to optimize their finance processes.
In the next phase of its growth, Vic.ai will expand its AI solution to include corporate credit cards, purchase orders, and bill pay, providing a spend intelligence offering that helps customers optimize their non-payroll costs and make more informed spending decisions. The company will also offer new capabilities for secure and optimized payment execution as well as AI-based three-way PO matching in early 2023, with card transactions following later in the year.
Vic.ai’s new offerings will be the latest in its suite of boundary-pushing features, including Autopilot, Autonomous Approval Flows and Spend Intelligence, which provide the foundation for autonomous accounting.
FinSMEs
14/12/2022