Reducto raised $8.4 million in seed funding led by First Round Capital to develop AI technology for reading complex documents.

Oct 02, 2024•about 1 year ago

Amount Raised

$8.4 Million

Round Type

seed

San Franciscoinformation technology & servicesSoftwareMachine LearningArtificial Intelligence

Investors

Tracy YoungRalph GootteeRichard AbermanJj FliegelmanKulveer TaggarAndrew OfstadArash FerdowsiLiquid2Sv AngelBox GroupFirst Round Capital

Description

Reducto has secured $8.4 million in seed funding to enhance AI capabilities for parsing PDFs and spreadsheets. The round was led by First Round Capital, with participation from various notable investors including Y Combinator and angel investors.

Company Information

Company

Reducto

Location

San Francisco, California, United States

About

Reducto is the most accurate solution for turning complex documents into AI-ready inputs. The team from MIT built state of the art vision models that read documents like humans do, solving a critical bottleneck for AI teams working with unstructured data. Reducto enables reliable AI processing of sensitive documents like medical records and financial statements with the accuracy and reliability necessary in production environments.

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