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About
Ocrolus transforms documents into actionable data with high accuracy by combining artificial intelligence and human expertise. This process automates back-office tasks, reducing the need for manual data entry. The company serves clients in the financial services sector, including lenders and mortgage providers, by streamlining processes like loan underwriting and compliance tasks. Ocrolus's platform can analyze various documents, achieving a 99% accuracy rate, and operates on a subscription-based model. Its unique approach of integrating human oversight with AI ensures continuous improvement and reliability, setting it apart from competitors. The goal of Ocrolus is to enhance efficiency, fraud detection, and compliance in document-driven workflows for financial institutions.
Company Stage
N/A
Employees
501-1,000
Industries
Fintech, AI & Machine Learning
Total Funding
$135.5M
Headquarters
N/A
Founded
2014
Simplify's Take
What believers are saying
- Ocrolus's partnerships with industry leaders like Envestnet | Yodlee and Cloud Maven enhance its market reach and credibility.
- The launch of the enhanced mortgage dashboard and Instant solution demonstrates Ocrolus's commitment to innovation and addressing specific industry needs.
- The company's rapid customer growth, onboarding over 100 new clients in a challenging market, indicates strong demand and resilience.
What critics are saying
- The fintech market is highly competitive, and Ocrolus must continuously innovate to maintain its edge.
- Reliance on the financial services sector makes Ocrolus vulnerable to economic downturns affecting this industry.
What makes Ocrolus unique
- Ocrolus combines AI with human expertise in a 'human in the loop' model, ensuring high accuracy and continuous improvement, unlike competitors relying solely on AI.
- The company's ability to process over 1,150 document types with 99% accuracy sets it apart in the fintech sector.
- Ocrolus's extensive network of training data, with over 300 million pages analyzed, provides a significant competitive edge in machine learning accuracy.
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6 month growth
↑ 1%1 year growth
↑ 2%2 year growth
↑ 0%Benefits
Taking care of you - We offer a comprehensive health package, including dental and vision, to support your physical and mental wellbeing.
Ocrolus Appreciation Days - Enjoy Ocrolus Appreciation Days, our company holiday on the last Friday of every month. That’s 12 extra days of PTO per year!
Save for retirement - All employees benefit from a 401(k) plan, offered through Betterment, the investment and savings app.
Unlimited time off - Vacations at Ocrolus are on your terms. There’s no cap on PTO, alongside a flexible schedule and time off on summer Fridays.
Paid parental leave - It’s the big moments in life that matter. Our employees take up to three months of paid maternity or paternity leave.
Meals on us - Get catered lunch in the office all week long. We also provide dinner on most nights of the week.
Develop at work - Be empowered to grow personally and professionally with our annual learning and development stipend.
Take ownership - It’s important that Ocrolus employees feel invested in the company. Equity packages are available to most staff.
Ride to work - Commuting doesn’t have to be a drag. With CitiBike membership, you can make getting to work fun and healthy.
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