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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, such as bank statements and invoices, achieving a 99% accuracy rate. Unlike competitors, Ocrolus offers end-to-end automation solutions through a subscription-based model, ensuring clients can efficiently scale their operations. The goal is to enhance efficiency, improve fraud detection, and ensure compliance in document-driven workflows.
Company Stage
Late Stage VC
Employees
501-1,000
Industries
Fintech, AI & Machine Learning
Total Funding
$135.5M
Headquarters
New York City, New York
Founded
2014
Simplify's Take
What believers are saying
- Partnerships with LendSaaS and Envestnet | Yodlee expand Ocrolus' market reach.
- The enhanced mortgage dashboard addresses key pain points in mortgage lending.
- The Instant service offers a cost-effective, fully automated document processing solution.
What critics are saying
- Emerging fintech startups may erode Ocrolus's market share.
- Economic uncertainties could impact revenue growth in the lending market.
- Data privacy concerns may pose compliance challenges for Ocrolus.
What makes Ocrolus unique
- Ocrolus combines AI with human expertise for high accuracy in document processing.
- The platform supports over 1,150 document types, offering unmatched versatility.
- Ocrolus provides end-to-end automation solutions, enhancing efficiency in financial services.
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6 month growth
↑ 3%1 year growth
↑ 4%2 year growth
↑ 3%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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