Hypatos uses deep learning, natural language processing and computer vision to automate processing of financial documents such as invoices, travel and expense management, loan application validation and insurance claims. The company was spun out of AI-for-accounting startup Smacc at the back end of 2018 and is based in Germany and Poland. It says its models are trained on a dataset of more than 10 million annotated data entities and offers end-to-end "cognitive process automation" covering classification, information capture, validation and data enrichment. Hypatos provides APIs and machine-learning modules to integrate with ECM, ERP, CRM and RPA systems, with deployments in the cloud or on-premise and continuous model-training pipelines. Its customer base includes more than a dozen Fortune 500 companies, major accounting firms and over 300 software companies. The company plans to use the new funding for R&D to expand its AI model portfolio and to fuel growth in Europe, North America and Asia.

Total raised

$12M

Funding rounds

1

Latest round

Seed

Latest activity

Sep 2020