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Veryfi has raised $12.7M across 2 funding rounds.
Key people at Veryfi.
Veryfi was founded in 2017 by Ernest Semerda (Cofounder).
Veryfi has raised $12.7M in total across 2 funding rounds.
Veryfi provides an Intelligent Document Processing (IDP) platform, leveraging AI APIs and software to transform unstructured documents into actionable business data. The company’s core offering includes robust document capture capabilities through mobile and browser SDKs, alongside a comprehensive suite of data extraction APIs for various document types such as receipts, invoices, and bank statements. Its technical approach emphasizes advanced artificial intelligence to accurately digitize and classify information, enhancing operational efficiency.
The company was co-founded in 2016 by Dmitry Birulia and Ernest Semerda. Birulia, an entrepreneur with a strong background in Computer Vision and Machine Learning, along with Semerda, recognized the significant inefficiencies inherent in manual data entry from purchasing documents. Their collective expertise in AI was applied to solve this pervasive business problem, evolving from a personal expense application into a sophisticated IDP platform.
Businesses across diverse sectors, including finance, healthcare, and accounting, utilize Veryfi for solutions like expense management, accounts payable automation, and KYC processes. Veryfi’s overarching vision is to liberate human potential by converting raw data into powerful business intelligence. The company aims to move businesses beyond outdated manual data processes, fostering innovation and growth through AI-driven insights.
Veryfi was founded in 2017 by Ernest Semerda (Cofounder).
Veryfi has raised $12.7M in total across 2 funding rounds.
Veryfi's investors include NewView Capital, Act One Ventures, Battery Ventures, CP Ventures, Delta Emerald Ventures, Tom Hulme, Harlem Capital, KB Partners, M13, Notion Capital, Seven Seven Six, Vamos Ventures.
Key people at Veryfi.
Veryfi is an AI-first company that builds document‑processing software and APIs to extract structured data from receipts, invoices, bank statements and other unstructured documents, primarily to automate bookkeeping, expense management and intelligent document processing for businesses and platforms.[1][6]
High-Level Overview
Origin Story
Core Differentiators
Role in the Broader Tech Landscape
Quick Take & Future Outlook
Quick take: Veryfi has positioned itself as a specialist AI/IDP provider for finance and expense workflows—its combination of domain‑trained models, developer APIs and industry features (timesheets, product matching) gives it clear product market fit for companies that need high‑accuracy document extraction and real‑time bookkeeping data, but scaling into broader enterprise accounts will require continued product depth, certifications, and strategic integrations.[6][4][7]
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Veryfi has raised $12.7M across 2 funding rounds. Most recently, it raised $12.0M Series A in April 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Apr 1, 2021 | $12.0M Series A | NewView Capital | Act One Ventures, Battery Ventures, CP Ventures, Delta Emerald Ventures, Tom Hulme, Harlem Capital, KB Partners, M13, Notion Capital, Seven Seven Six, Vamos Ventures, Andy Leaver, Eric Ries, Jeremy Yap, Sean Park, Sherry Coutu, Act One Ventures, Transpose Platform |
| Mar 1, 2017 | $700K Seed | Act One Ventures, Battery Ventures, CP Ventures, Delta Emerald Ventures, Harlem Capital, KB Partners, M13, Vamos Ventures, Eric Ries |