# Ocrolus

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ocrolus

- Industry: Software
- Headquarters: New York, US
- Website: www.ocrolus.com
- Total disclosed funding: $91M
- Latest round: Series C (Jun 4, 2021)
- Investors on record: 15

## About

Based in the US, Ocrolus Inc. specializes in intelligent document automation, utilizing AI-driven technologies to enhance document processing for the financial services sector and beyond.Ocrolus Inc. was founded in 2014 and is headquartered in New York, US. The company focuses on intelligent document automation, providing solutions that streamline document processing. Co-founded by Peter Bobley, Sam Bobley, and Victoria Meakin, Ocrolus has raised a total of USD 54.54 mn through various funding rounds, with the most recent being a Series C round led by Fin Venture Capital on June 4, 2021. This funding round also included participation from several notable investors, such as Bullpen Capital, Cross River, FinTech Collective, and others. The company has executed 6 deals to date, achieving a current valuation of USD 499.43 mn.Ocrolus specializes in intelligent document automation, leveraging AI-driven technologies to streamline document processing for various industries, primarily focusing on financial services. Its core offerings include advanced machine learning algorithms that sort financial documents, extract, and structure critical data through a combination of computer vision and human oversight. These solutions assist lenders in managing risk, detecting fraud, and evaluating financial health efficiently during the loan origination process. Ocrolus serves a diverse client base that includes small business lenders, mortgage providers, auto lenders, forensic accountants, and Medicaid services, facilitating enhanced document analysis capabilities for their operations. The company's technology is deployed across markets like North America and parts of Europe, addressing the unique needs of financial institutions seeking to optimize their document handling processes.The revenue structure of Ocrolus is primarily built around subscription-based models and partnerships with financial institutions. Clients engage with Ocrolus by subscribing to its document processing services, which provide scalable solutions tailored to their operational needs. These services encompass flagship offerings that facilitate the classification, capturing, and analysis of financial documents, enabling lenders to make quicker and more informed decisions. Revenue transactions occur through direct contracts with businesses, where clients pay for the volume of documents processed or the specific services utilized, positioning the company strategically within the B2B sector to enhance the efficiency and accuracy of financial assessments for its users.In June 2021, Ocrolus Inc. raised USD 54.54 mn in Series C funding, led by Fin Venture Capital, with the aim of building its products for the mortgage lending and banking industries while expanding its operations in the US. The company plans to design and launch new products specifically targeting these sectors, enhancing its service offerings. The recent funding will facilitate this strategic development as Ocrolus aims to strengthen its position within the financial services market and address emerging needs from clients.

## Funding rounds

- Series C, Jun 4, 2021, $55M — Thomvest Ventures, Bullpen Capital, QED Investors, Laconia Capital Group, FinTech Collective, RiverPark Advisors, Oak HC/FT, Cross River, Mubadala Capital, Fin Capital, Stage 2 Capital, ValueStream Ventures, Verdure Capital Management
- Series B, Nov 12, 2020, $1.5M — FinTech Collective, Oak HC/FT
- Series B, Jun 25, 2019, $24M — Bullpen Capital, QED Investors, ARC Angel Fund, Laconia Capital Group, FinTech Collective, RiverPark Advisors, Oak HC/FT, ValueStream Ventures
- Series A, May 15, 2019, $4M — Bullpen Capital, QED Investors, FinTech Collective, Oak HC/FT
- Seed, Feb 6, 2018, $7.5M — Bullpen Capital, QED Investors, Laconia Capital Group, RiverPark Advisors, ValueStream Labs

## Investors

- Bullpen Capital (https://capitalatlas.ai/funds/bullpen-capital) — Seed, Series A, Series B, Series C
- QED Investors (https://capitalatlas.ai/funds/qed-investors) — Seed, Series A, Series B, Series C
- Laconia Capital Group (https://capitalatlas.ai/funds/laconia-capital-group) — Seed, Series B, Series C
- RiverPark Advisors (https://capitalatlas.ai/funds/riverpark-advisors) — Seed, Series B, Series C
- ValueStream Labs — Seed
- FinTech Collective (https://capitalatlas.ai/funds/fintech-collective) — Series A, Series B, Series C
- Oak HC/FT (https://capitalatlas.ai/funds/oak-hc-ft) — Series A, Series B, Series C
- ARC Angel Fund — Series B
- ValueStream Ventures (https://capitalatlas.ai/funds/valuestream-ventures) — Series B, Series C
- Thomvest Ventures (https://capitalatlas.ai/funds/thomvest-ventures) — Series C
- Cross River — Series C
- Mubadala Capital (https://capitalatlas.ai/funds/mubadala-capital) — Series C
- Fin Capital (https://capitalatlas.ai/funds/fin-capital) — Series C
- Stage 2 Capital — Series C
- Verdure Capital Management — Series C