Amsterdam-based Send AI, a startup that builds software to teach AI models to process documents and emails, has secured €2.2M in a pre-seed round of funding.
The investment was led by Google’s AI fund, Gradient Ventures, and Dutch VC firm, Keen Venture Partners. The round also saw participation from former and current executives of UiPath, MongoDB, and Google DeepMind.
What does Send AI offer?
Founded in 2021 as Autopilot by Thom Trentelman and Philip Weijschede, Send AI specialises in automating document processing for companies.
The startup claims to excel in extracting key information from complex documents, such as low-quality scans, photographed paperwork, and lengthy PDFs, ensuring high precision.
Co-founder Trentelman says, “Nowadays, people prefer to transfer a document by taking a photo. Due to varying photo quality, traditional document processing software gets stuck more frequently. It also happens that multiple receipts are in one frame. Upright, upside down, different angles – people are very creative.”
“In such cases, data entry workers are prompted to copy-paste the information from the document by hand, which is a time-consuming and error-prone task.”
Send AI, in contrast to typical AI startups, avoids major models like ChatGPT, opting for a blend of smaller open-source models. This approach emphasises data security by keeping sensitive customer data on-site. “The speed, significantly lower cost, and ability to have each user train their own models also plays a significant role in this decision,” adds Trentelman.
Initially adopted by health insurers, Send AI’s platform has expanded into diverse industries.
Send AI’s features
Send AI offers a range of features, including Scan to Text, which utilises Optical Character Recognition (OCR) to convert images or scans into readable text while maintaining the original structure.
The platform also provides data extraction, enabling users to train a custom language model for the automatic extraction of entities based on a small training set with high accuracy. Model Training allows users to create personalised language models for recognising specific entities in documents.
Additionally, Send AI supports Data Export, enabling users to export processed data according to their preferences, with the option of Type Checking for validation.
Capital utilisation
Send AI plans to use the funding to enhance its team, expedite the development of internal AI models, and gear up for international expansion.
Anticipating significant growth, the startup aims to double in size within the current year. Check out their open positions here.
