SAN FRANCISCO – (BUSINESS WIRE) – October 6, 2021–
Mindee, the first API platform designed for developers to eliminate manual data entry, has exited stealth mode and today announces that it has raised a $ 14 million Series A funding round led by GGV Capital with the participation of Alven and existing investors Serena Capital and Bpifrance via its Digital Venture fund. Notable leaders in the application development space who also participated in the round include Algolia co-founder and former CEO Nicolas Dessaigne and Datadog co-founder and CTO Alexis Lê-Quôc. The funding will be used to expand the presence in the US and European markets to further develop both the underlying machine learning engine and the functionality of the platform.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211006005116/en/
Mindee co-founders Olivier Rey (CTO), Victor Briançon-Marjollet (COO), Jonathan Grandperrin (CEO) and Mohamed Biaz (CSO) (Photo: Business Wire)
Mindee helps developers automate workflows in their applications by standardizing the document processing layer. Mindee’s API helps businesses avoid manual data entry and can be used in expense management, accounts payable automation, purchasing, accounting, insurance, user and employee onboarding , loan applications, subscription, etc.
“Documents are the fundamental currency of business, and as the world continues to move from paper to digital, documents must keep pace. We are very excited to be working with Jonathan and the entire Mindee team as they bring document processing into the modern age with their powerful API, ”said Tiffany Luck, Investor at GGV Capital. Tiffany is leading enterprise software investments with a focus on API economics for GGV Capital and will join Mindee’s board of directors in connection with this funding.
“OCR is decades old technology, with many out-of-the-box solutions designed by Google or Amazon. Mindee’s unique approach is to integrate it into a simple product that developers can integrate with two lines of code with algorithms already trained on a growing library of use cases and workflows, ”said Bartosz Jakubowski, Director from Alven. “This elegant solution is intuitive and is already proving valuable in the market.
“As digital transformation accelerates at breakneck speed, we see Mindee as the most advanced solution on the market for data mining and document processing. Mindee’s powerful machine learning API will undoubtedly become an essential component of every business and every architecture. since their selection round, we’ve been impressed with the team’s execution and vision, and the progress they’ve made. We are proud and delighted to support Mindee through important milestones, ”said Bertrand Diard, Partner at Serena.
Mindee Machine Learning API
Mindee offers developers a document analysis API that can be deployed with two lines of code and ready for production in a matter of hours. The API offers cutting-edge deep learning algorithms. The API can be tested for free (no credit card required) and used for any type of document.
“Document processing is the bottleneck for most modern workflows. Instant document analysis with greater than human accuracy is the challenge of the coming decade on the path to digital transformation. Mindee combines cutting-edge deep learning research with a unique developer-centric approach to help software products meet this challenge, ”said Jonathan Grandperrin, CEO of Mindee.
Mindee is a pioneer of document analysis API leveraging machine learning to reduce manual data entry into software products. Headquartered in San Francisco, California, United States and Paris, France, the company serves the finance, research, insurance, government, healthcare and logistics industries with cutting-edge software for the consumer community. developers. Backed by venture capitalists such as GGV Capital, Alven, Serena Capital, Venture Capital BPI France, as well as leaders in the application development industry, Mindee is well positioned to take advantage of the automation trend. robotic processes. For more information, visit us at: https://mindee.com/ and follow us on LinkedIn, Twitter
About GGV Capital
GGV Capital is a global venture capital firm focused on multi-stage sector investments. Recognizing that the talent for building great businesses can come from anywhere, the company invests in founders who build companies that are leaders in their class across the globe. Founded in 2000 with roots in Singapore and Silicon Valley, GGV has grown with additional offices in San Francisco, Shanghai and Beijing. The company manages $ 9.2 billion in investments in the United States, Canada, China, Southeast Asia, India, Latin America and Israel. Over the past two decades, the company has supported more than 400 companies, including Affirm, Airbnb, Alibaba, BigCommerce, Grab, HashiCorp, Hello, Keep, Kujiale, Opendoor Technologies, Peloton, Poshmark, Slack, Square, StockX, Udaan, Vedantu, Wish, XPeng, Zendesk, and more. More information can be found at www.ggvc.com and @ggvcapital.
Alven is an independent early-stage venture capital firm with over $ 500 million under management and a track record of supporting over 130 startups over 20 years. Our mission at Alven is to support the long-term success of European category-defining startups with global reach, from the Series A stage or the seed stage. Alven’s areas of focus include B2C / B2B marketplaces, productivity and development tools, vertical AI platforms, consumer social and entertainment services, B2C financial services and brands. well-being. Past or current investments include Algolia, Dataiku, Drivy, Happn, Wit.ai (Facebook), CaptainTrain (Trainline / KKR), MeillAgents (Axel Springer), SeLoger (IPO), Webhelp, Peopledoc, Sqreen, Meero, Jobteaser , Sézane, Qonto and OpenClassrooms. Find out more on www.alven.co
Serena invests in daring companies and provides them with a level of expertise and operational resources unmatched in Paris and New York.
Serena’s portfolio can be supported by an experienced team of operational partners and a very active C-level community, the Serena Squad, open exclusively to present and past businesses, each contributing to the success of the other.
Founded in 2008, by entrepreneurs for entrepreneurs, Serena’s core belief is that VCs should work for their organizations, not the other way around.
About Bpifrance and its Digital Venture fund
Bpifrance finances companies – at each stage of their development – with credit, collateral and equity. Bpifrance supports them in their innovation projects and internationally. Bpifrance also ensures their export activity through a wide range of products. Consulting, university, networking and acceleration programs for start-ups, SMEs and mid-cap companies are also part of the offer offered to entrepreneurs. Thanks to Bpifrance and its 49 regional offices, entrepreneurs benefit from a privileged, unique and efficient interlocutor to help them meet their challenges.
Bpifrance Digital Venture is the VC team of Bpifrance, dedicated to digital and technology companies aiming to become world leaders in their market. It focuses on the Seed and Series A / B stages. With 700 million euros under management, the team has supported more than 90 companies and has had 18 exits since 2011. Among the investments made by the Bpifrance Digital Venture team are Teads (acquired by Altice), Talentsoft, Netatmo ( Legrand), Best Agents (Axel Springer), Balyo, Manomano, Evaneos, Openclassrooms, Klaxoon, Livestorm, Shippeo. More information on: www.Bpifrance.fr. Follow us on Twitter @Bpifrance – @BpifrancePresse – @BpifranceDV
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211006005116/en/
CONTACT: Nina Gill
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: SOFTWARE INTERNET NETWORKS FINANCE DATA MANAGEMENT PROFESSIONAL SERVICES TECHNOLOGY SECURITY
Copyright Business Wire 2021.
PUB: 06/10/2021 9:00 a.m. / DISC: 06/10/2021 9:02 a.m.