Vic.ai adds sophisticated artificial intelligence, computer vision and autonomous approval flows to a company’s back-office financial operations.
and HireQuest, as well as top accounting firms like KPMG, PwC, BDO, and Armanino LLP. Enterprise customers include HSB (Sweden’s largest real-estate management company), Intercom Inc.
The company’s AI platform has now processed more than 535 million invoices with 95 percent accuracy, helping 2,000+ corporate finance and accounting clients achieve nearly $70 million in cost savings and six million hours in time savings. Vic.ai was launched in 2017 to build fully autonomous AI systems that make finance and accounting teams more efficient, accurate, and intelligent. Vic.ai plans to use the new funding to expand its enterprise offering and release additional AI capabilities for U.S. The Series B funding was led by ICONIQ Growth with participation from existing investors GGV Capital, Cowboy Ventures and Costanoa Ventures, bringing total capital raised to $63 million. 01, 2021 (GLOBE NEWSWIRE) - Vic.ai today announced $50 million in Series B funding to spur adoption of its pioneering AI platform for real-time, autonomous accounting and financial intelligence. This is easily the most talented and creative group of folks Gabs and I have ever had the pleasure of working with, and it's incredible to see how they raise the bar each and every day.NEW YORK, Sept. This is all made possible due to our amazing and innovative team, spread remotely across more than 20 countries today. Every day we're uncovering new technical insights to better enable merchants to build beautiful commerce experiences, gain unprecedented observability across their payments stack, and supercharge their payments ops. There isn't a day that goes by that we're not working on a "first of its kind", and we've barely scratched the surface of what's possible. This round is followed by Accel, Balderton, RTP Global, Seedcamp, and Speedinvest. Today, we're excited to announce that we've partnered with ICONIQ as part of a $50M Series B at a $425M valuation to supercharge the next phase of growth and product development for Primer, and to seize on the biggest opportunity in all of payments. So we set out to build the world's first open automation platform for payments, and with it, we're ushering in a new paradigm for how merchants think about and manage their payments and payment flows across a multitude of payment methods, payment providers, and other related services.Īnd this spells great news for developers, too - Primer acts as a developer framework for integrating payments on both web and mobile, so appropriate separation of concerns can be established once and for all (read more about how Primer is reinventing the payment). How do merchants take complex, dynamic, and ever-evolving payments strategies and translate these to beautiful, unified payment experiences? Well, typically they don't! - they make huge compromises.
Today, merchants maintain increasingly complex ecosystems leveraging many products and services from across the payments stack and beyond, such as multiple payments providers, 3D secure, alternative and local payment methods (including digital wallets and buy now pay later), BI tools, and data platforms, fraud platforms, payouts services, KYC tools, loyalty platforms, tax calculation and FX services, chargeback management platforms, and many, many more. The payments landscape is blowing up at a rapid pace, and merchants need to leverage the best products and services from across the web to offer the payments experiences their customers expect when they checkout, no matter where they are. Less than 2 years ago my co-founder, Gabs and I were sat in our offices at PayPal struggling to aide merchants with their overarching payments woes.
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