Businesses often ask customers to fill out PDF forms that then need to be transcribed into a computer system. Anvil is working to eliminate that repetitive and tedious process through automation and a new round of venture capital.
Subscribe to the Crunchbase Daily
On Wednesday, the 2-year-old company announced a $5 million Series A investment led by Gradient Ventures, Google’s AI-focused investment fund, with participation from Citi Ventures, Menlo Ventures, Financial Venture Studio and 122 West.
The completion, processing and storing of paperwork costs America more than $1 trillion annually, Darian Shirazi, general partner at Gradient Ventures, said in a written statement.
The San Francisco-based company’s business process automation platform aims to reduce those costs by converting documents to simple online workflows.
“It’s like TurboTax for any kind of paperwork,” Mang-Git Ng, Anvil’s co-founder and CEO said in an interview. “Once you create the web form, you can then just share a link to it and track progress. It’s meant to help you create an experience when asking for basic information, or information you want to easily get at.”
Ng said Anvil has been running “lean and mean” with five employees since 2018, so his plans for the capital include recruiting more employees on both the technical and non-technical sides, as well as hitting the market hard with products.
“By the end of the year, conservatively, we plan to double our employees,” he added. “It is kind of an opportune moment as people try to understand the best experience for their customers as more people get used to doing things online.”
Ryan Falvey, co-founder and managing partner at Financial Venture Studio, told Crunchbase News he met Ng at last year’s Money 20/20 Startup Pitch showcase, and saw Anvil’s potential.
His firm invests in fintech companies and is introducing Anvil to banks that can use the platform.
“By using the internet or the cloud, it will make enterprise more productive,” he said. “Especially now in the new reality, it’s important to make it easier to sign up without paper.”
Illustration: Li-Anne Dias
Actions speak louder than words.
Vara's AI-powered breast cancer screening software enables early detection and better workflow for radiologists.
The company’s core is computer vision--using deep learning on dental images and data science to connect the imaging data with other dental practice...
Appway helps financial institutions digitize and automate the onboarding of new clients and management of their customer lifecycle.
"traditional" - Google News
June 03, 2020 at 09:07PM
https://ift.tt/303jgmR
Anvil Secures $5M Series A To Make Traditional Paperwork A Thing Of The Past - Crunchbase News
"traditional" - Google News
https://ift.tt/36u1SIt
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
Bagikan Berita Ini
0 Response to "Anvil Secures $5M Series A To Make Traditional Paperwork A Thing Of The Past - Crunchbase News"
Post a Comment