companies

Ocrolus

Document AI platform that lenders use to extract, verify and analyze bank statements, pay stubs and tax forms during loan underwriting.

Ocrolus was founded in 2014 in New York by Sam Bobley, initially combining OCR with human reviewers to hit accuracy levels raw machine reading couldn't reach on messy scanned financial documents. Over time the company shifted toward a more fully automated 'vertical AI' approach purpose-built for the specific document types lenders deal with every day, rather than a generic document AI platform retrofitted for finance. Its systems classify, extract and cross-check data from bank statements, pay stubs, tax returns and other income documents, then flag inconsistencies that suggest a document has been altered. The company has raised more than $135 million across ten rounds, including an $80 million Series C in 2021 at a valuation north of $500 million, from investors including Fin Capital and Oak HC/FT. Ocrolus now employs several hundred people and serves fintech lenders, banks and credit unions including Enova, Kapitus and Fora Financial, positioning its platform around faster, more consistent underwriting decisions than manual document review allows.

Founded

2014

Headquarters

New York, United States

Sector

applications