Paperwork automation company Anvil has closed its Series A round on $5m, as it looks to help business streamline their processes.
Google’s AI-focused investment division Gradient Ventures led the investment, with additional support coming from Citi Ventures, Menlo Ventures, Financial Venture Studio and 122 West.
The company offers a paperwork automation solution that helps businesses to streamline workflows. Its technology is used by financial services, human resources, technology and healthcare companies.
Companies can automate their document workflows for customer onboarding, compliance fillings, account openings, real estate closings, insurance applications and more.
Gradient Ventures general partner Darian Shirazi said, “The addressable market for Anvil’s solution is limitless. America spends over $1 trillion each year completing, processing, and storing paperwork. Anvil’s platform has allowed existing paper and PDF forms to be automatically populated with a series of APIs and AI techniques.
“Processes that used to take weeks now take minutes and allow banks, insurance companies, and many other industries that rely on paperwork to automate and delight customers.”
Menlo Ventures partner Naomi Ionita said, “I’m fascinated by technology that brings efficiency to businesses—from large enterprises all the way down to individuals who rely on software to accomplish their work.
“Anvil’s broad set of tools, from developer-first APIs to their no-code workflow builder, helps automate away the mundane and painful parts of peoples’ jobs so they can focus on higher-order problems.”
Copyright © 2018 RegTech Analyst
