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Vic.ai secures USD 50 mln in series B financing

Wednesday 1 September 2021 15:08 CET | News

Vic.ai, a startup developing software to automate accounting and financial processes, has closed a USD 50 million series B financing round with participation from GGV Capital, Cowboy Ventures, and Costanoa Ventures.

Vic says it’ll use the capital to expand its existing enterprise offering as well as build out its financial intelligence engine.

Vic combines the two pillars of invoice processing and optimising business decisions while applying reasoning to the data that’s processed. The platform delivers features like the AI-powered Autopilot, which selects invoices and expenses that meet a certain confidence threshold and automates them so that they’re sent to approvers without requiring human review. Another feature, Autonomous Approval Flows, determines the number of steps in an invoice approval process and decides which employee needs to review each step.


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Keywords: artificial intelligence, funding, expansion
Categories: Blockchain & Cryptocurrencies | E-invoicing, SCF & E-procurement
Countries: United States
This article is part of category

Blockchain & Cryptocurrencies